interpretation of the “Executive” in relation to “person holding executive position in Accounting or Finance Department whose rank is not lower than departmental manager” ​ Regarding the Notification of the

or Finance Department whose rank is not lower than departmental manager” ​ Regarding the Notification of the Securities and Exchange Commission No. Kor Jor. 17/2557 Re: Determination of Definitions in

กลุม่ กราฟแสดงสดัส่วนการลงทุนในปัจจุบนัท่ี Standardized แลว้ Investor types Mean Rank of mean within same investor types Rank of mean across investor types Cash Holder Old- Fashioned Modern Investor Cash

Persistence of Performance http://www.sec.or.th Empirical Paper Methodology Evidence Sharpe (1966) Spearman rank correlation Yes Jensen (1968) Jensen’s alpha No Grinblatt&Titman (1989,1992) Jensen’s alpha Yes

include:   - disclosure of additional information to cover individual remunerations for executives of the highest rank, e.g., chief executive officer and managing director;    - extending the periods for

University, who will serve as ad-hoc contest committees and will set out the requirements for scoring, as well as rank the participants as had been done every time before. Additionally, this year’s contest

% 52,010,000.00 2.50 130,050,000.00 10 Vibhavadi Medical Center PCL. 50% 56,000,000.00 2.68 150,000,000.00 Total 100% 112,000,000.00 2.68 300,000,000.00 Rank List of Shareholders Proportion Shares Price per Share

institution which follows the performance measurement standards as set out by the Association; (b) at least the following information is presented on the same page: 1. rank, name, or type of awards received; 2

Association; (b) at least the following information is presented on the same page: 1. rank, name, or type of awards received; 2. date, time or the period when the award was granted; 3. name of the institution

performance measurement standards as set out by the Association; (b) at least the following information is presented on the same page: 1. rank, name, or type of awards received; 2. date, time or the period when