Grande Asset Hotels and Property Public : Notification of the Calculation of Conversion Price of the Convertible Debentures of GRAND

(Translation)

Ref. KorNgor. 09/06/2022

		16 June 2022
Subject	:	Notification of the Calculation of Conversion Price of the Convertible Debentures
		of the Company.
To	:	Director and Manager,
		The Stock Exchange of Thailand.

According to Grande Asset Hotels and Property Public Company Limited (the "Company") has entered into the agreement for issuance and offering the newly convertible debentures pursuant to the Convertible Debentures Agreement for "Grande Asset Hotels and Property Public Company Limited's long-term convertible debentures No. 6/2022 due 2025" ("Convertible Debentures") to Advance Opportunities Fund ("AO Fund"). And then AO Fund notified the conversion of the Convertible Debentures on 16 June 2022 as follows:

The Company's	Amount of	Remaining	Exercise the right to conversion	Remaining debentures after
long-term	debentures	debentures before		(unit)		conversion (Unit)
convertible	(units)	conversion (unit)	(16 June 2022)
debentures
		AO Fund	AO Fund I		Total	AO Fund	AO Fund I		Total
No. 1/2022	50,000	-	-	-		-	-	-		-
No. 2/2022	20,000	-	-	-		-	-	-		-
No. 3/2022	20,000	-	-	-		-	-	-		-
No. 4/2022	40,000	-	-	-		-	-	-		-
No. 5/2022	20,000	-	-	-		-	-	-		-
No. 6/2022	40,000	30,000	30,000	-		30,000	-	-		-
Total	190,000	30,000	30,000	-		30,000	-	-		-

On 16 June 2022

• AO Fund notified the conversion of the Convertible Debentures in the number of 30,000 units (Baht 30 million) to 151,515,151 ordinary shares.
• The conversion prices of AO Fund are equal to 0.198 Baht per share which are not less than 90 percent of the market price, whereby the market price is calculated from the weighted average price of the Company's shares in the SET for the past 7-15 business days. However, the weighted average price of the Company's shares for the past 7 business days is as follow:

Date	Number of Shares	Total Value (Thousand Baht)
07/06/2022	18,751,200	4,129.07
08/06/2022	7,649,300	1,705.37
09/06/2022	6,153,600	1,364.76
10/06/2022	13,862,800	3,058.70
13/06/2022	50,032,400	10,966.56
14/06/2022	11,371,700	2,489.99
15/06/2022	19,754,100	4,344.68
Total	127,575,100	28,059.13

Remark : Information from www.setsmart.com

Weighted average price for 7 business days (Baht/Share)

• Trading Value
  Trading Volume
• 28,059,129
  127,575,100

	=	0.22
90% of the weighted average price (Baht/Share)	=	0.198

Therefore, the convertible price of 16 June 2022 is equal to 0.198 Baht per share which is not less than 90 percent of the market price, resulting that it is not categorized as the condition for prohibition of the sale of shares within 1 year from the date of receiving the convertible securities (Silent Period) pursuant to Notification of the Stock Exchange of Thailand, Re : Rules, Conditions and Procedures Governing the Listing of Ordinary of Preferred Shares issued for Capital Increase B.E. 2558. The Convertible Debenture Holders will receive the shares from the conversion of the Convertible Debentures on 16 June 2022 in the number of 151,515,151 shares. Therefore, there are the remaining capital increase ordinary shares for accommodation of the conversion of the Convertible Debentures in the number of 1,361,429,632 shares.

Please be informed accordingly.

Yours sincerely,

Mr. Somchai Trirattanapitak

Company Secretary

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