two parts. The first part prescribes the Qualifications of the CIS Operator, Trustee/Fund Supervisor, and requirements relating to Approval, Valuation, and Operational Matter. The second part prescribes

relation to reasonableness of the connected transaction and fairness of valuation and conditions of the Transaction for shareholders’ approval including submit such opinion to the SEC Office and the Stock

materiality of ESG information Integrate into analysis and valuation Present in research report 9 ESG INFORMATION Sources • Company disclosures and publications • Meetings and correspondence with company

Book Value Approach Details of the assessment of fair value under each method are as follows: 1) Book Value Approach Valuation based on this approach will show the value of the land by reference to the

Criteria used to determine asset selling price is referred to the appraisal of the following 3 independent appraisers having the market approach as the method of valuation since it can be traded in property

ยูในชวงปลายของวัฏจักร ในสวนของผลกระทบตอตลาดหุน สามารถแบงออกเปน 2 สวน ดังนี้ 1) Valuation หรือคา Forward P/E ซ่ึงถูกกดดันผานนโยบาย การเงินที่เขมงวดข้ึน และ 2) คาดการณกําไรบริษัทจดทะเบียน

Criteria used to determine asset selling price is referred to the appraisal of the following 3 independent appraisers: Name of Appraisal Company Method of Valuation Appraisal Value Date of Valuation 1

the condition that a due diligence and feasibility study of the project and valuation of shares are being satisfied and there must be no material adverse effect to the financial conditions and operation

Thai restaurants. 5. Total Value of Consideration 5.1 Total Value of Consideration and Valuation Method for the Determination of the Value of Consideration The total value of consideration of the

significantly effects on the level of debt usage. Thus, the non-debt tax shield level (NDT variable) could effect on the valuation of the firm. Variable and Model Development (Cont’) Page 18/40 Variable and Model