Thai Ha Public Company Limited announced that the resolution of the board of directors' meeting no. 4/2021 held on July 30, 2021. The meeting passed a resolution to approve the establishment of a new subsidiary in Thailand in order to support the business expansion of the manufacturing and distribution of food, including plant-based food and ready-to-eat food for elder and patient. The company and/or the new subsidiary to be established will purchase land and buildings located at No. 88 Moo 7, Wang Sala Sub-district, Tha Muang District, Kanchanaburi Province, together with machineries and equipment (investment assets) which are used in the business of food manufacturing, including plant-based food and ready-to-eat food for elder and patient for sale both domestically and internationally from Albatross Co. Ltd. (AB) and Albatross Foods Co. Ltd. (ABF) who are not the connected person of the company. The total transaction value is not more than THB 30,000,000. At present, the company is in the process of conducting due diligence of the investment assets. If the result of the due diligence of the investment assets is satisfactory, it is expected that the company and/or the new subsidiary to be established will complete the investment assets purchase transaction within the fourth quarter of the year 2021. The details of the new subsidiary to be established in order to support the business expansion of the food manufacturing and distribution are as follows: subsidiary's name: Thai Ha Innovative Foods Co. Ltd. Type of business: food manufacturing and distribution. Registered capital: THB 40,000,000. Shareholding structure: 1. Shareholding ratio of the company is not less than 80%. 2. Shareholding ratio of the existing managements and/or shareholders of AB or ABF are not more than 20%.