Surachai Chetchotisak, Chet Chetchotisak, Chot Chetchotisak, Pol. Gen. Smyot Pumpanmuang agreed to acquire 37.548626% stake in Gratitude Infinite Public Company Limited (SET:GIFT) from Union Petrochemical Public Company Limited (SET:UKEM) for approximately THB 210 million on December 15, 2022. As per the terms, the offer per share is THB 1.65 for 221,596,466 shares. Transaction is subject to UKEM shareholders approval and other conditions precedents. The Board of Directors considered that this transaction with reasonable conditions and consistent with the policy and strategy of the company. Source of funds of the Offeror for this Tender Offer will come from cash owned by the Offeror with the Confirmation Letter on Source of Funds in the name of Mr. Surachai ChetchotisakTransaction is expected to be completed in the second Quarter of 2023. Proceeds from the sale of such assets, before tax and all types of expenses, in the amount of 365,634,168.90 baht, will be used as working capital of the company. PI Advisory Company Limited acted as a financial advisor to Union Petrochemical Public Company Limited (SET:UKEM). Silom Advisory Company Limited acted as fairness opinion provider to Gratitude Infinite Public Company Limited.

Surachai Chetchotisak, Chet Chetchotisak, Chot Chetchotisak, Pol. Gen. Smyot Pumpanmuang cancelled the offer to acquire additional 37.548626% stake in Gratitude Infinite Public Company Limited (SET:GIFT) from Union Petrochemical Public Company Limited (SET:UKEM) on April 11, 2023.