SET Announcements

of association that the shareholding ratio of non-Thai persons shall not exceed 49% of all paid up capital of the Company except for the conditions specified in the Company's articles of association. In such case, the Company shall not be liable for any compensation for damages or not owe any obligation to such non-Thai warrant holders, and such non-Thai warrant holders are not entitled to claim for any damages or any compensation from the Company. Restriction on the transfer of the Warrants and the exercise of the Warrants The Company has no restriction on the transfer of the Warrants. However, the Company has a restriction on the exercise of the Warrants in the case that such exercise will cause the Company to lose benefit and rights that the Company should receive under the law and a restriction on shareholding ratio of non-Thai person as described in the Company's articles of association as detailed below: 1. The Company shall not issue ordinary shares to non-Thai persons who exercise the Warrants in accordance with the processes to exercise the Warrants, which causes the shareholding ratio of non- Thai person to exceed 49% of all paid-up capital of the Company as stipulated in the Company's articles of association except for conditions specified in the Company's articles of association. 2. If the transfer restriction under Clause 1 above causes non-Thai warrant holders who exercise the Warrants to be unable to exercise his/her rights in accordance with what specified in the processes to exercise the Warrants whether in whole or in part, the Company reserves the rights to return to the non-Thai warrant holders the money remained from the exercise price of the Warrants or the Warrant Substitutes, in the part that cannot be exercised, without any interest by registered mail within 14 days after the Exercise Date. 3. The non-Thai warrant holder is not entitled to any compensation from the Company in the case of the inability to exercise the Warrant as a result of the restriction on shareholding ratio of non-Thai person as specified in Clause 1 above. Silent Period -None - Others -None - Financial Advisor -None - Prepared By Sansiri Public Company Limited Signed (Mr. Apichart Chutrakul) Director Signed (Mr. Wanchak Buranasiri) Director Page 11