Sakol Energy Public Company Limited (SET:SKE) agreed to acquire a 22% stake in Vanta Capital Co., Ltd. from Pokpong Jirayukul, Luttawit Punjanutbong and Phanuphan Tanasetsakul for THB 28.6 million on February 21, 2022. Sakol will be acquiring 44000 shares out of total 200000 shares from existing shareholders with a par value of THB 100 per share, at a purchase price of THB 650 per share, totaling THB 28.6 million. Sakol will also subscribe for the newly issued preference shares of VANTA in a total number of 23,000 shares, with a par value of THB 100 per share, at a subscription price of THB 650 per share, totaling THB 14.95 million.

As a result, the Sakol will hold shares in VANTA in the total number of 67,000 shares, comprising 44,000 ordinary shares and 23,000 preference shares, or equivalent to 30.04% percent of the total sold shares of VANTA and the vendors will hold 23.32% each. On March 31, 2022, Sakol made a payment of THB 9 million and gave VANTA a short-term loan amounting to THB 3 million for the period of six months. Sakol will be entitled to nominate two persons to be directors of VANTA among the total number of four directors and will be entitled to, as a holder of preference shares subscribed from the subscription of newly issues shares, the voting right of six votes per one preference shares, which accounts for 53.85 percent of the total voting rights over VANTA.

Furthermore, there shall be a stipulation in a shareholders' agreement between Sakol and the Existing Shareholders to ensure that VANTA become a subsidiary of the Sakol.