Green Era Pte Ltd entered into a shares sale and purchase agreement to acquire a 33.33% stake in Star Energy Group Holdings Pte Ltd from BCPG Public Company Limited (SET:BCPG) for THB 14.6 billion on January 28, 2022. The Share Purchase Price will be paid in cash. BCPG will sell the ordinary shares of SEGHPL, totaling 250,801 shares or 1/3 of total shares. Post transaction PT Barito Pacific Tbk will hold 66.7% and Springhead Holdings Pte Ltd will hold 33.33%. The completion of the share sales pursuant to the Share Sales and Purchase Agreement is conditional upon the complete satisfaction or waiver of the various conditions precedent, which includes the following key conditions precedent: (a) PT Barito Pacific Tbk has consented the transaction and the Buyer to be the party to the Shareholder's Agreement, in place of the BCPG. The Buyer has an obligation to procure PT Barito Pacific Tbk to provide such consent and BCPG expects that the consent will be obtained by February 28, 2022. (b) The board of directors of SEGHPL has pass the resolution to approve the share sales in SEGHPL and the proceedings relating to the such share sales, including the entry into various agreements relating to the share sales and the appointment of the two persons nominated by the Buyer to hold the position of director in SEGHPL. In this regard, on February 15, 2022, SEGHPL informed BCPG that the aforesaid matters have already been approved by SEGHPL Board of Directors' Meeting.

If all conditions precedent are not satisfied or waived within three months following the execution date of the Share Sales and Purchase Agreement, the agreement is deemed terminated. BCPG has its Board of Directors' Meeting on January 26, 2022 which has passed the resolution to approve the disposal. Expected completion of transaction is within the first quarter of 2022. BCPG intends to use the cash received from the share sales to invest in other projects pursuant to the BCPG investment plan.