K C Property Public : Notify the correction of accounting records in the process of clearing accumulated losses

KC 024/2022

June 30, 2022

Subject Notify the correction of accounting records in the process of clearing accumulated losses

To	The President
	The Stock Exchange of Thailand
	1.	KC 005/2022 Notification on resolutions of the BOD's meeting, the 2022 AGM of
		Shareholders' schedule and the omissive dividend payment, amendment of the
		company' seal, capital reduction, transfer of appropriated legal reserve and paid-up
		capital reduction by reducing the par value to compensate accumulated loss on
		February 24, 2022
	2.	KC 011/2022 Notification on the resolution of the Annual General Meeting of Shareholders
		for the year 2022 on April 5, 2022
	3.	KC 016/2022 Report on corrective action guidelines in the case of KC securities are
		marked with a "C" on June 2, 2022

According to The Board of Director of K.C. Property Public Company Limited (the "Company") held on February 24, 2022 has approved the plan to compensate accumulated loss for Shareholders consider and approve. The resolution of the Annual General Meeting of Shareholders for the year 2022 has approved the plan to compensate accumulated loss on April, 5 2022 .And the explain plans to improve the Company's securities are marked with a "C" on June 2, 2022 by The company carry on accumulated loss and par value. by registered already with the Ministry of Commerce on June 22, 2022

The Company would like to inform The company had a misunderstanding in the accounting for the reduction of capital as before, the company used the surplus from the capital reduction to clear the accumulated loss first. and the rest will be deducted with the low price of the ordinary shares which according to the correct accounting principles The company must deduct the surplus from the capital reduction from the low on common stock first. and then deduct the accumulated losses, respectively.However, this operation has been performed correctly according to the procedure. but only inaccurate accounting records which can be summarized as follows:

Before Summary Effects on the Company's consolidated financial statements Table

		At the March 31,2022
	Effects on the Company's consolidated financial statements
	Before reduce	Change		After reduce
	par value			par value
Paid up capital	3,613,536,044.00	(1,084,060,813.20)		2,529,475,230.80
Par Value	1.00	(0.30)		0.70
Share discount	(2,364,663,159.60)	181,507,187.82		(2,183,155,971.78)
Retaining earnings -appropriate	-	-		-
(Loss) Retaining earnings	(838,701,144.83)*	902,553,625.38		63,852,480.55
Shareholder's equity	410,171,739.57	-		410,171,739.57

*It is the amount after transferring the legally allocated reserve to reduce the accumulated loss (940,995,636.81 - 102,294,491.98)

After Summary Effects on the Company's consolidated financial statements Table

		At the March 31,2022
	Effects on the Company's consolidated financial statements
	Before reduce	Change		After reduce
	par value			par value
Paid up capital	3,613,536,044.00	(1,084,060,813.20)		2,529,475,230.80
Par Value	1.00	(0.30)		0.70
Share discount	(2,364,663,159.60)	1,084,060,813.20		(1,280,602,346.40)
Retaining earnings -appropriate	-	-		-
Accumulated loss	*(838,701,144.83)	-		(838,701,144.83)
Shareholder's equity	410,171,739.57	-		410,171,739.57

*It is the amount after transferring the legally allocated reserve to reduce the accumulated loss (940,995,636.81 - 102,294,491.98)

Before Summary Effects on as per separated financial statement Table

	Information as of 31 March 2022
	Effects on as per separated financial statement
	Before transfer	Change	After transfer
Paid up capital	3,613,536,044.00	(1,084,060,813.20)	2,529,475,230.80
Par Value	1.00	(0.30)	0.70
Share discount	(2,364,663,159.60)	181,507,187.82	(2,183,155,971.78)

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	Information as of 31 March 2022
	Effects on as per separated financial statement
	Before transfer	Change	After transfer
Retaining earnings -appropriate	-	-	-
(Loss) Retaining earnings	(902,553,625.38)	902,553,625.38	-
Shareholder's equity	346,319,259.02	-	346,319,259.02

*It is the amount after transferring the legally allocated reserve to reduce the accumulated loss (1,004,848,117.36 - 102,294,491.98)

After Summary Effects on as per separated financial statement Table

	Information as of 31 March 2022
	Effects on as per separated financial statement
	Before capital	Change	After capital
	reduction by		reduction by
	reducing par value		reducing par value
Paid up capital	3,613,536,044.00	(1,084,060,813.20)	2,529,475,230.80
Par Value	1.00	(0.30)	0.70
Share discount	(2,364,663,159.60)	1,084,060,813.20	(1,280,602,346.40)
Retaining earnings -appropriate	-	-	-
Accumulated loss	*(902,553,625.38)	-	(902,553,625.38)
Shareholder's equity	346,319,259.02	-	346,319,259.02

*It is the amount after transferring the legally allocated reserve to reduce the accumulated loss (1,004,848,117.36 - 102,294,491.98)

The company is considering a way to clear the margin on ordinary shares and clear the accumulated loss. which will be considered with caution and prudence If any conclusion will inform next time

Please be informed accordingly,

Yours Sincerely

-Santi Piyatat-

___________________

(Mr. Santi Piyatat)

Managing Director

K.C. Property Public Company Limited

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