Energy Absolute Public Company Limited (SET:EA) signed a non-binding memorandum of understanding to acquire a 19% stake in Land Prosperity Holding Co., Ltd. from Aek Ahunai and others for THB 5.1 billion on February 26, 2020. Under the terms, Energy Absolute will acquire 285 million shares at THB 18 per share. It is anticipated that the parties will enter the share purchase agreement within May 2020. It is anticipated that source of funds will come from loans from financial institutions, in-house cash flow of Energy Absolute, or funds from a capital increase. In a related transaction, Amita Thailand, subsidiary of Energy Absolute will lease the land covering approximately 91 Rai 2 Ngan 44 Square Wa from Double P Land. Transaction is subject to approval from Energy Absolute's shareholders. The board of Energy Absolute resolved to approve the transaction on February 26, 2020. As on April 23, 2020, at the Annual General Shareholders’ Meeting shareholders of Energy Absolute Public Company Limited approved the transaction. Energy Absolute Public Company Limited (SET:EA) cancelled the acquisition of 19% stake in Land Prosperity Holding Co., Ltd. from Aek Ahunai and others on February 26, 2021.