PTT Global Management Company Limited entered into a share purchase agreement to acquire 50% stake in Global Renewable Power Co., Ltd. from Global Power Synergy Public Company Limited (SET:GPSC) for approximately THB 690 million on November 18, 2020. PTT Global Management Company Limited will acquire 4.655 million shares. Global Renewable Power Co., Ltd had total assets of THB 0.84 million, Total Shareholder Equity of THB 0.29 million as of December 31, 2019 and net loss of THB 0.65 million for the year ending December 31, 2019. The business operation of GRP shall be managed by the GRP’s Board of Directors of which shall be jointly appointed by PTT and GPSC. The Share Sale and Purchase will be completed upon the satisfaction of certain conditions precedent, such as obtaining confirmation from the relevant regulators of acknowledgement of the notification etc., or upon the conditions precedent being waived in writing by the related parties if any conditions precedent cannot be completely satisfied. The conditions precedent will be satisfied within the first quarter of 2021. The board of Global Power Synergy Public Company Limited and PTT Public Company Limited approved the deal. The transaction is expected to completed by the first quarter of 2021. The funds received will be used to invest in other businesses of Global Power Synergy Public Company Limited in the future.