Siam Technic Concrete Public Company Limited announced that the Board of Directors' resolution of Meeting No.1/2022, held on February 23, 2022, has approved the establishment of new subsidiary company as follow, from the company's strategy to sustainable growth, in order to expand business, increase competitiveness} reduce production cost and increase profit margin. Business Type: Manufacturer and Distributor steel wire. Investment cost: THB 320,000,000.

Registered Capital: THB 100,000,000 Consisted of 1,000,000 ordinary shares with a par value of THB 100 each Shareholding: Siam Technic Concrete Public Company Limited 100%. Source of Fund: The Company's working capital. Expected Benefits: Increase more revenue and profit, increase competitiveness and reduce production cost.

The Board of Directors has approved investment in construction steel wire factory project in the value equal to THB 320 million. In detail, The Board of Directors has approved that Siam Steel Wire Company Limited to purchase the machine to produce steel wire in the value not exceed THB 220 million and construct factory and other cost in the value not exceed THB 100 million in which the source of fund will be from loans from financial institutes and internal working capital. The Company expects to recognize revenue in the year 2023.