Thai Airways International : SET notifies procedures for POST and THAI as the equity is negative

SET notifies procedures for POST and THAI as the equity is negative

As Bangkok Post Public Company Limited (POST) and Thai Airways International Public Company Limited (THAI) submitted the financial statements for the year ended 2020 to the Stock Exchange of Thailand (SET) which shows that the equity is negative, resulting in the company is subject to possible delisting according to SET's regulation Re: Delisting of Securities1.

Listed Company	Shareholders' Equity (Million Baht)
1. Bangkok Post Public Company Limited (POST)	-230
2. Thai Airways International Public Company Limited (THAI)	-128,742

In order to comply with SET's regulations as mentioned above, SET will proceed as follows:

1. Announce that POST's securities and THAI's securities are subject to possible delisting (NC

Stage 1) from 8 March, 2021. SET will post NC (Non-Compliance) sign and SP (Suspension) sign will still be posted to suspend the companies' securities trading.

2. POST announces its decision to adopt a rehabilitation plan to propose to the shareholders before implementation, to submit a petition to the court to propose a rehabilitation plan pursuant to the law on bankruptcy, or to undertake voluntary delisting, or to engage in any other actions which are beneficial to the company and the shareholders.

THAI announces that apart from filing a petition to the court to propose a rehabilitation plan under the bankruptcy law, THAI makes other decision to engage in any other actions or not.

Moreover, POST and THAI should set the timeline to implement the rehabilitation plan or any other decisions (if any) and publish that information to the shareholders and the investors within 7 April, 2021.

3. When the time limit as specified in no. 2 is due and the company has informed the decision complete and clear, SET will be allowed trading on company's securities for 1 month. When the said time has passed, SET will not be allowed trading on the companies' securities until the company has proceeded to eliminate the grounds for delisting, and proceed to qualify the company to return to trade as normal.

If the company does not notify or confirm the decision within the deadline as no. 2, SET may still post the SP sign on the company's securities.

4. SET shall give POST and THAI to eliminate the ground for delisting within 3 years from 8 March, 2021. The periods of action will be divided into 3 periods, each period lasting for 1 year (NC stage 1, NC stage 2 and NC stage 3). After the end of those periods, if the company is still unable to eliminate the ground for delisting, SET will propose to the SET's Board of Governors to consider delisting the company's securities accordingly.

Therefore, SET recommends the investors and shareholders to carefully study financial statements of POST and THAI financial statements along with POST and THAI announcement of further actions.

March 8, 2021

1 SET's regulation Re: Delisting of Securities1 B.E. 2542 (1999) and Procedure for Actions against Listed Companies whose Performance or Financial Position fits the Criteria for Possible Delisting