Vorapak Tanyawong and Chuangchai Nawongs entered into a share purchase agreement to acquire a 29.29% stake in Finansia Syrus Securities Public Company Limited (SET:FSS) from Finansa Capital Ltd. for approximately THB 690 million on December 9, 2021. Under the transaction, buyer will acquire 170,269,978 shares in FSS at a price of THB 4.07 per share. Post transaction, Finansa Public Company Limited will not have any stake in Finansia Syrus Securities Public Company Limited. In addition, given that the Transaction will result in buyer's shareholding in FSS exceeding 25% of all voting rights of FSS, buyer is required to make a tender offer for all securities of FSS. The tender offer is subject to the conditions precedent that all conditions precedent and any other conditions under the Share Purchase Agreement shall have been satisfied and the Purchaser shall have obtained the voting rights and any other rights in all shares in FSS representing 29.29% under such Share Purchase Agreement. Transaction is subject to completion of conditions precedent under the Share Purchase Agreement, which includes buyer and Finansa Capital Ltd. shall have obtained approval from the Board of Directors’ Meeting and the Shareholders’ Meeting, Varah Sucharitakul, a representative director of Finansa Public Company Limited in FSS shall have submitted his resignation letter as a director to FSS, effective as of the closing date of the Transaction, buyer shall have obtained approval to borrow a loan from financial institution(s) and/or other person(s) to make the share payment. Transaction is approved by the board of directors of Finansa Public Company Limited. Transaction is expected to complete by December 16, 2021. Finansa Public Company Limited plans to use the proceeds from this disposal to repay the Company’s debts and for further investment in the Company’s business, both at present and in the future, as well as for the Company’s working capital.