(Translation)

PP. 146/2018

16 May 2018

Subject : Notification of the establishment of the joint venture company. To : Director and Manager,

The Stock Exchange of Thailand.

According to the Board of Directors Meeting of the Company No. 4/2018, held on 22 March 2018 resolved for approval of Property Perfect Public Company Limited (the "Company" or "PF") to enter into the joint venture with Hongkong Land Co., Ltd. ("HKL") which is the leader company in investment, management and development of the real estates in Hong Kong, Singapore and the important cities in Asia Region in order for the purpose of establishment of the joint venture company for investment and development of real estate projects for sale, whereby Mr.Chainid Adhayanasakul was assigned to be the representative of the Company to negotiate and agree with the conditions with HKL including to disclose the said transaction to the Stock Exchange of Thailand after the Company has already received the final agreement for entering into the said joint venture.

By this letter, the Company would like to notify that the Company will establish the new joint venture company, with the following particulars:

Name of Joint Venture Company

  • : HKL Perfect Co., Ltd.

    Type of Business Registered Capital

  • : Investment and developments of real estate projects for sale

  • : Not exceeding 1,200,000,000 Baht, divided into 12,000,000 ordinary shares, with par value of 100 Baht per share each However, the joint venture company will register the initial capital in the amount of 100,000 Baht, divided into 1,000 ordinary shares, with par value of 100 Baht per share each (fully paid-up), whereby the joint venture company will increase the registered capital from time to time in accordance with the necessity of business operations.

Shareholding Structure

:

1. PF holds the shares being equivalent to 51%

2. HKL (Thai Developments) Limited ("HKLTD") which is

the registered company in Thailand and the Company in the

group of HKL holds the shares being equivalent to 49%.

Board of Directors

:

1. Directors from PF in number of 2 persons

2. Directors from HKLTD in number of 2 persons

Source of fund

:

Working capital of the Company

Investment and providing

:

In compliance with the proportion of shareholding of each

financial supporting

shareholder.

in future

The above transaction is not categorized as the connected transaction which is required to comply with the relevant Notification of the Capital Market Supervisory Board and the Notification of the Board of Directors of the Stock Exchange of Thailand. And the size of the above transaction is not also categorized as the significant transaction of the acquisition or disposal of assets under the relevant Notification of the Capital Market Supervisory Board and the Notification of the Board of Directors of the Stock Exchange of Thailand. However, the Company disclosed the above transaction to the Stock Exchange of Thailand in accordance with the Regulations of the Stock Exchange of Thailand, Re: Rules, Conditions and Procedures Governing the Disclosure of Information and Other Acts of a Listed Company in relation to the entering into the joint venture with another company in the proportion of investment from 10% of the paid-up capital of the joint venture company.

Please be informed accordingly.

Sincerely yours,

- Chainid Adhyanasakul - _____________________ Mr. Chainid Adhyanasakul Chief Executive Officer

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Property Perfect pcl published this content on 16 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 May 2018 10:27:08 UTC