independent financial advisor views that despite the reasonable objectives of the proposed acquisitions, NBC’s shareholders should not grant an approval because (1) the sale price of “Komchadluek” assets and

purchase price are reasonable and beneficial for the company and its shareholders and in compliance with reasonable conditions. In this regard, IFA is of the opinion that the acquisition is reasonable

No.4/2018 on November 14, 2018, considered that this transaction is charged at the same rate as the financing cost of the Lender. Therefore, it is reasonable to increase the efficiency of capital

at the same rate as the financing cost of the Lender. Therefore, it is reasonable to increase the efficiency of capital management and reduce financial costs; including the risk of non-payment

the financing cost of the Lender. Therefore, it is reasonable to increase the efficiency of capital management and reduce financial costs; including the risk of non- payment according to the transaction

, collectively referred to as the “Mahachai Group”, as the sponsor and lender whereby GSTEL had entered into the agreement on 17 February 2014. According to the opinion of the independent financial advisor (IFA

and related person as following details: Borrower Mana Patanakarn Company Limited as a subsidiary of Nawarat Patanakarn Public Company Limited (“the Company”) Lender 1. K Alliance Company Limited 2. Mrs

December 2018 2. The parties involved Borrower : Pan Asia Footwear Public Company Limited [PAF] Lender : Mr.Boonsithi Chokwatana Connected person : Mr.Boonsithi Chokwatana Brother of Mr.Boonkiet Chokwatana

January - 31 December 2020 2. The parties involved Borrower : Pan Asia Footwear Public Company Limited [PAF] Lender : Mr.Boonsithi Chokwatana Connected person : Mr.Boonsithi Chokwatana Brother of

December 2019 2. The parties involved Borrower : Pan Asia Footwear Public Company Limited [PAF] Lender : Mr.Boonsithi Chokwatana Connected person : Mr.Boonsithi Chokwatana Brother of Mr.Boonkiet Chokwatana