Company Milestone

Greenovation Power Co., Ltd. (“GNP”), a subsidiary of the Company which operates wind power plant business, which the Company holding 99.99% of registered and paid-up capital, GNP has operated commercial electricity (“COD”) of the Saranlom Wind Farm Project located at Nakorn Ratchasima in the capacity of 60 megawatts.

The Board of Directors of Gunkul Engineering Public Company Limited No. 2/2561 on Tuesday, April 10, 2018 resolved to approve the treasury stock program to maximize benefit from the excess liquidity management of the Company and to signal to investors on the strong financial position of the Company, with the maximum amount that used to repurchase shares not exceeding 1,000 million baht, the maximum amount of repurchased shares not exceeding 300,000,000 shares at a par value of 0.25 baht per share. The number of shares to be repurchased is equal to 4.04% of the total issued shares by specifying the period for the repurchase of shares from April 25, 2018 to October 24, 2018. The totaling repurchased shares in the above program are 99,043,700 shares or 1.34% of the total issued shares of the Company. The total value of all repurchased shares equal to 304,674,256.00 baht.

• The Annual General Meeting of Shareholders for the year 2018 resolved to approve as follows: Approval of the decrease of the registered capital of the Company totaling 513,246,748 shares, or 128,311,687 baht, which were not able to be allocated for dividend payment according to the resolutions of the Annual General Meeting of Shareholders for the year 2017 of 6,421 shares or 1,605.25 baht. The remaining portion of the warrants for the Company's ordinary shares is 513,240,327 shares or 128,310,081.75 baht from the current listed share of 7,931,868,241 shares at the par value of 0.25 baht (current registered capital is equal to 1,982,967,060.25 baht) to be new registered shares of 7,418,621,493 shares at the par value of 0.25 baht (new registered capital is equal to 1,854,655,373.25baht)
  
  
• Approval of the reorganization of the Board of Directors from 9 to 10 persons so that the Board of Directors has more variety of professional skills and expertise including for more balance of power in the Board of Directors.
  
  
• Approval of the amendment of the Company's Articles of Association Chapter 4 ‘Shareholders' Meeting’ Article 24.

Korat Wind Energy Co., Ltd. (“KWE”), a subsidiary of the Company operates wind power plant business. The Company holds 99.99% of the registered and paid-up capital. KWE has operated commercial electricity ("COD") of the Mittraphap Wind Farm Project which is located in Nong Nam Sai Sub-district, Sikhiu District, Nakhon Ratchasima province, with total capacity of 50 MW. These projects are supported by the government through adder at THB3.50 per KW for 10 years started from the commercial operation date.

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  the Extraordinary General Meeting of Shareholders No.1/2561 resolved to approve as follows: Approving the Gunkul Power Development Co., Ltd. ("GPD"), a subsidiary of the Company which the Company holds 99.99% of the issued and paid-up shares, to enter into the purchase of 10,000,000 ordinary shares of Future Electrical Control Co., Ltd. ("FEC"), representing 100.00% of total issued shares with the par value of Baht 10.00 per share and with the paid-up capital of Baht 47,500,000.00 from existing shareholders of FEC in total not exceeding 650,000,000.00 Baht.
• Approving the Amendment of the Articles of Association of the Company, Article 45. “The Company’s Seal” Approval of the amendment of the Company's Articles of Association Chapter 4 ‘Shareholders' Meeting’ Article 24.

The Company received the installation work of Solar Roof for Charoen Pokphand Foods Public Company Limited or CPF in the form of a power purchase agreement with a project value of approximately 1,400 million baht. The Company will be the investor and the system administrator throughout the contract period of 15 years which will install 120,000 solar panels on the roof of the CPF factories in 34 locations, with a total area of approximately 230,000 square meters or comparable to a 40 MW power plant.

Sendai Okura Power Plant project which is located in Sendai Miyagi, Japan with total capacity of 31.75 MW. (38.10 MW: Installed Capacity). This is a project that produces and sells solar power to Tohoku Electric Power Co., Inc. ("Tohoku Electric”) at JPY 36 per unit in feed-in tariff scheme, with 20-year concession period starts from the commercial operation date.

the Company established a subsidiary company, Gunkul Solar Power 6 Co., Ltd. (“GSP-6”) in order to produce and sell electricity from renewable energy to sell to government agencies. The Company held 99.99% of the registered capital of 100,000,000 baht (Current registered capital of 100,000,000 baht and the Company holding shares in the ratio of 99.99%).

the Company established a subsidiary company, Gunkul Solar Power Co., Ltd. (“GSP”) in order to produce and sell electricity from renewable energy to sell to government agencies. The Company held 99.99% of the registered capital of 560,999,100 baht (Current registered capital of 599,998,800 baht and the Company holding shares in the ratio of 99.99%).

the Company acquired 48,000 shares in BMP Solar Co., Ltd. (“BMP Solar”). The Company will be entitled to receive dividends from its operations and rights for voting in proportion to 99.99%. This power plant is located at Tha Kwian, Watthana Nakhon District, Sa Kaeo Province. The capacity is 8.0 megawatts with Feed-in-Tariff (FiT) 5.66 baht per unit for a period of 25 years. The Commercial Operation Date starts from April 29, 2016. (Current registered capital of 980,100 baht and the Company holding 48,010 shares in the ratio of 48.98%).

the Company signed a Memorandum of Understanding between BG Energy Solution Co., Ltd. and Gunkul Power Development Co., Ltd. to launch the Solar Rooftop project for its own use with the capacity of 4.84 MW at Ayudhya Glass Industries Limited.

the Company acquired 99,999 common shares in Gunkul LED Lighting Co., Ltd. from the existing shareholders or equivalent to 9.99% of the current registered capital in the amount of 4,095,000 baht. Gunkul’s total shareholding in this company is 999,998 shares or equivalent to 99.99% of total ordinary shares (current registered capital is 100,000,000 baht). (On February 21, 2018, Gunkul LED Lighting Co., Ltd. changed name into “Gunkul Energy Solutions & Lighting Co., Ltd.” with a purpose to expand its business to provide integrated electrical system services)

the Company was employed by the Provincial Electricity Authority (“PEA”) for the construction of 33 KV submarine cable to Koh Pra Thong, Phang Nga Province. The construction period is starting from the signing date of the contract 450 days.

is the date on which the remaining warrants to purchase the Company’s ordinary shares No.1 (GUNKUL-W) have been set as listing status termination.

Wind Energy Development Company Limited, a subsidiary of the Company. Operates wind power plants, the Company held 99.99% of the share capital. Has begun commercial sales of electricity (“COD”) of the Power Plants liner Pool Wind Farm 1 and Power Plants liner Pool Wind Farms 2, total capacity of 10 Megawatts (MW). Located at Huay Bong sub-district, Dan Khun Thot district. Nakhon Ratchasima Province. The support has been added to the purchase price (Adder) at the rate of 3.50 baht per kWh, for a period of 10 years from the date of commencement of commercial operation of the power distributor.

Annual General Meeting of Shareholders for 2016, resolved to change the par value per share of the Company from 1.00 baht per share to be 0.25 baht per share and an increase in the share capital of the Company. To be support the stock dividend and to accommodate the exercise of the Warrants. The warrants to purchase the common shares of the Company 1 (GUNKUL-W). After the revaluation of capital stock shares. The new capital total 1,416,405,589.00 baht changed to 1,699,686,359.00 baht. Issuing new ordinary shares amount 1,133,123,080 shares at par value of 0.25 baht per share. Including the adjustment of the warrants to purchase common shares of the Company No. 1 (GUNKUL-W). As per the exercise Ratio 1 warrant : 1 common share to 1 unit : 4.8 common share, and the exercise price of 27.00 baht per share to 5.625 baht per share, and resolved to raise the issue and offering of debentures in the amount of 2,000 million baht. Therefore, the amount of 1,000 million baht, fine not exceeding the new limit is 3,000 million baht and not over 7 years.

The Company filed a registration with the Ministry of Commerce to change the par value of one baht to be 0.25 baht.

The Company announced the establishment, Gunkul Bio Energy Co., Ltd., to produce raw material for the biomass power plant, the Company helds 99.94% of the share capital of 500,000 baht (Current registered capital of 500,000 baht)

The board of Directors Meeting No. 6/2016 approved the Gunkul International (Mauritius) (“GIM”), a subsidiary of the Company. Transaction investment in the solar power plant located GD Utsunomiya, Utzunomiya City, Tochigi Province, Japan. The capacity under power purchase of 66.78 Megawatts (MW), Installed of 72.80 Megawatts (MW), The manufacturer and distributor of solar power to the Tokyo Electric Power Company (“TEPCO”) was awarded the concession to sold electricity to TEPCO, period 20 years. The rate of purchase power feed-in tariff (FIT) Yen 36 per unit, the total value of the project is approximately 24,017 million yen or approximate of 8,391 million baht.

The Board of Directors Meeting No. 7/2016, approval for the Company to buying preferred stock in the BMP Solar Company Limited (“BMP Solar”), which operates the solar power plants. A capacity of 8.00 Megawatts (MW) of 48,000 or 48.98% of the paid-up capital totaling registered of 98,000 shares (including ordinary shares total 50,000 shares and preferred shares of 48,000 shares), the Company will be entitled to dividend from operations and the rights to vote at 99.99%, which a turnover of 670 million baht, by the power plants of the Company are located at Tha Carter, Watthana Nakhon district, Srakaew Province. In order to gain power. Feed-in Tariff (FiT) 5.66 baht per unit, for a period of 5 years.

Wind Energy Development Company Limited, a subsidiary of the company. Operates Wind Power Plants located in the Huay-Bong Sub-district, Dan Khun Thot District, Nakhon Ratchasima Province, the company held 99.99% of the shares capital. Has been selling commercial operation (“COD”) of the Wind Power Projects of 50 Megawatts (MW), wind farm on March 17th, 2016, the company has been selling commercial operation (“COD”). The project liner pool Wind Farm 1 power plants projects and liner pool Wind Farm 2, a total of 10 Megawatts (MW) of projects undertaken of COD totally 60 Megawatts (MW). Although, 3 project has been supported additional purchase price (Adder) at the rate of 3.50 baht per Kilowatts (kWh) for a period of 10 years from the date of commencement of the commercial operation of the power distributors.

The Extraordinary General Meeting of Shareholders No. 2/2016 approved to Gunkul International (Mauritius) (“GIM”), a subsidiary entered into an investment in solar power plant projects in GK East Japan Solar 13 (“GK Iwakuni”) Iwakuni City, Yamanguchi Province, Japan. Capacity of the project of 75.0 Megawatts (MW), (Size of capacity that, installed 90.0 Megawatts (MW) was awarded the concession to distribute electricity to Chungoku Electric Power for a period of 20 years at a rate of the power purchase and Feed in Tariff (FiT) Yen 32 per unit. The totally value of approximate 31,327.80 million yen or approximately 10,776.76 million baht, also approval that, including a resolution to raise the issuing of debentures amount 3,000 million baht, By the way, the amount changing not more than 3,000 million baht, a new limit not over 6,000 million baht, the period within 7 years.

Wind Energy Development Company Limited (“WED”) which is one the Company’s subsidiaries, has invested in the wind turbine power plant project with the total project value at approximately Baht 6,145,721,100. WED has signed the contract in PPA in the capacity of 50 MW wind turbine power plant from Electricity Generating Authority of Thailand (“EGAT”) as well as the capacity

GUNKUL has signed the Memorandum of Understanding (“MOU”) in jointly generating of solar cell on rooftop PV system with Chai Watana Tannery Group Pubic Company Limited (“CWT”) whereas GWT and GUNKUL shall jointly establish a company in developing this project. GUNKUL shall have the shareholding in this new company at 25.01 percent.

the Company has informed the information technology of investment in the wind turbine power plant of Greenovation Power Company Limited (“GNP”). GNP operates its business in developing and constructing wind turbine power plant for Electricity Generating Authority of Thailand (“EGAT”) under the capacity of 60 MW electrical agreement with 3.50 Adder for the period of 10 years. This power plant is situated in Huay Bong Sub-district, Dan Koon Tod District, Nakorn Ratchasima Province with the expected complete construction and commercially distribution within the first quarter of 2017.

the Extraordinary General Meeting of Shareholders No. 1/2015 passed the following resolutions:

• Ratified the Company in investing in the capacity of 60 MW wind turbine power plant with Greenovation Power Company Limited with the total project value of Baht 6,325,000,000.
  
  
• Ratified the Company in investing in the capacity of 31.75 MW solar cell power plant; Sendai Okura Mega Godo Kaisha in Japan with the total project value of Yen 12,599,100,000 or approximately Baht 3,527,800,000.
  
  
• Approved the Company in purchasing 67 percent of ordinary shares of Infinite Alternative Energy Company Limited which is a shareholder of Rang Ngern Solution Company Limited. Rang Ngern Solution Company Limited is the counterparty in the power transaction of the solar cell power plant and the capacity of 87 MW project’s total value is approximately Baht 5,487,500,000.
  
  
• Approved the Company in investing in the capacity of 33.50 MW solar cell power plant; GK Kimitsu in Japan with the total project value of Baht 3,656,200,000.
  
  
• Approved the Company in acquiring source of investment fund as the capital increase by issuing the newly ordinary share to the Company’s existing shareholders in proportion to their respective shareholding (Right Offering) and issue the warrant certificate to the Company’s existing shareholders who wish to exercise their right in purchasing the ordinary shares of the Company. These newly ordinary shares issuance for Right Offering shall be not more than 274,981,118 shares at the par value of Baht 1 per share. Details are as follows:
  • Issuing not more than 183,320,745 newly ordinary shares at the par value of Baht 1 per share to the existing shareholders of the Company in proportion to their respective shareholding (Right Offering) of 6 existing shares to 1 unit of warrants (disregarding the fraction). The offering price is Baht 22 per share. In the event that there are remaining amount of the newly issued ordinary shares after the issuance to the existing shareholders of the Company, the Company shall allocate such amount to the shareholders who express their intention in purchasing the newly issued ordinary shares apart from the proportion to their respective shareholding until the full amount is completely allocated, unless the remaining is the fraction which cannot be allocated or no more shareholder expresses his/her intention in purchasing the newly issued ordinary shares.
  • Issuing not more than 91,660,373 newly ordinary shares at the par value of Baht 1 per share to the existing shareholders of the Company in proportion to their respective shareholding (Right Offering) of 2 existing shares to 1 unit of warrants for the exercise of right of GUNKUL-W.

the Company has informed the information technology of investment in the establishment of Outgrow Energy Consult Company Limited which operates its business in biomass power plant. The Company’s shareholding in this company is 74.90 percent while Outgrow Energy Consult Company Limited’s shareholding is 25.10 percent. The registered capital is Baht 34,300,000.

the Company has purchased the ordinary shares of Gunkul LED Lighting Company Limited from the existing shareholders at 150,000 shares or equivalent to 15 percent of the current registered capital of Baht 6,090,000. Gunkul’s total shareholding in this company is 899,999 shares or equivalent to 90 percent of total ordinary shares (current registered capital is Baht 100,000,000).

Pang Tru Project which is located in Pang Tru Sub-district, Ta Muang District, Kanchanaburi Province with the capacity of 8 MW, started commercial distribution to Provincial Electricity Authority (“PEA”) for the period of 25 years at the electricity charge of Baht 5.66 per unit as Feed in Tariff (“FiT”). Pang Tru Project is one of the projects of Rang Ngern Solution Company Limited, a subsidiary of the Company, which operates in 11 solar cell power plants at the capacity of 87 MW.

the Company had acquired 199,998 Common Shares in Greenovation Power Co., Ltd. (“GNP”) from Impact Energy Asia Limited (“IEA”) which represents 99.9990 percent of GNP’s registered shares of 200,000 shares at the total selling price of THB 432,000,000. GNP do business as a Power Producer from wind energy resource which electricity generated will be sold to the Electricity Generating Authority of Thailand (“EGAT”) in accordance to a Power Purchase Agreement (PPA) in capacity of 60 MW at the registered capital of 2.0 million baht. (Currently registered capital is 1,485 million bath)

the Company had signed 2 more agreements with MEPE, Ministry of Electric Power for Engineering Services and Procurement of High Voltage Electrical Equipment to supply for substation and transmission system, 66/33/11kV, 20&-30MVA, by approximated amount of USD 2.2882 million and EURO 1.0075 million or THB 120 million. Distribution period is 360 days after signing agreement and L/C issuing.

the Company had established a new subsidiary to carry out the manufacturing and distributing of Lighting Bulb Type LED named Gunkul LED Lighting Co., Ltd. in which the Company had stakes of 74.79% of their respective 10.00 million baht registered capitals (current registered capital : 100 million baht).

the Company had acquired of 31,563,000 Common Shares in Wind Energy Development Co., Ltd. (“WED”) from Impact Energy Asia Limited Co., Ltd. (“IEA”) which represents 30 percent of WED’s registered shares of 105,210,000 shares at the total selling price of THB 373,721,100 that totally holding 100 percent of registered capital of 1,052,100,000 baht (current capital: 1,052,100,000 baht). WED do business as a Power Producer from wind energy resource which electricity generated will be sold to the Electricity Generating Authority of Thailand (“EGAT”) in accordance to 3 Power Purchase Agreements in capacity of 60 MW receiving THB 3.50 / unit as adder for 10 years. (Currently registered capital is 1,575 million baht)

the Company had established a new subsidiary to carry out the Generating Electrical Power and Engineering Procurement and Construction named Gunkul Solar Community Co., Ltd. in which the registered capital of 1 million at par value of 100 baht (current registered capital:10 million baht).

the Company had signed Memorandum of Understanding (MOU) for joining Solar Roof business with East Coast Furnitech Public Company Limited (ECF).

Gunkul International (Mauritius) (GIM), which is a subsidiary of the Company to purchase shares of Sendai Okura Mega Solar Godo Kaisha (“GK Sendai”), which is incorporated in Japan by operating the solar power plant business with 31.75 MW contract capacity (38.10 MW installed capacity) located in Miyaki Japan. GK Sendai produces electricity from solar energy and sell the electricity to Tohoku Electric Power Co., Inc. (“Tohoku Electric”), the local utility, at JPY36 per unit in feed-in tariff scheme, with 20 year concession period in the ratio of 100 percent shareholder in the amount of JPY1.80 billion or approximately 504 million baht.

the Company disposed of common shares in Gunkul Powergen Co., Ltd., which operates solar power generation and distribution business and is a contractual party of 5 electricity sale agreements with the Provincial Electricity Authority, with a total capacity of 30.9 MW and adder rate of 8.00 baht per unit. In this regard, 4,860,800 common shares, equivalent to 49.00% of the 992,000,000-baht registered capital, were disposed to Chubu Electric Power Gem B.V., Japan.(Currently registered capital of 992 million baht)

• Siam Wind Energy Co., Ltd. was established by the Company holding shares at the ratio of 40% with the registered 1 million, which the business of producer and distributor of renewable energy by emphasized on wind energy. (Currently registered capital of 1 million baht)
  
  
• For the purpose of international investment expansion, the Company registered the establishment of Gunkul International (Mauritius) (“GIM”) in the Republic of Mauritius, and Gunkul International (Singapore) Pte. Ltd. (“GIS”) and Gunkul Myanmar Power (Hlawga) Pte. Ltd. in Singapore. In this regard, the Company held a stake of 100% of the 12,000-USD registered capital in GIM (the current capital is 134,825,624 U.S. dollar); GIM held a stake of 100% of the 28,000-SGD registered capital in GIS (the current capital is 511,645 Singapore dollar), and GIS held a stake of 100% of the 14,000-SGD registered capital in Gunkul Myanmar Power (the current capital is 284,829 Singapore dollar).

Gunkul Powergen Co., Ltd. changed its name to Gunkul Chubu Powergen Co., Ltd.

the Company signed a letter of intent with TPI Polene PCL , for installation of electrical system and supply of relevant equipment for TPI Cement Plant no. 4 located at Mittraparp Road, Tambol Tubkwang, Amphoe Kangkhoy, Saraburi. The contract value was approximately 367,270,000 baht.

the Company established Gunkul Solar Roof 1 Co., Ltd. (GSR-1), Gunkul Solar Roof 2 Co., Ltd. (GSR-2), Gunkul Solar Power 1 Co., Ltd. (GSP-1), Gunkul Solar Power 2 Co., Ltd. (GSP-2), Bright Green Power Co., Ltd. (BGP) and Solar Energy Society Co., Ltd. (SES) to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. The Company held stakes of 99.97% of their respective 1,000,000- baht registered capitals (Currently registered capital of WHA_GSR-1 is 11.50 million baht, WHA_GSR-3 is 14.50 million baht and WHA_GSR-6 is 14.50 million. For WHA_GSR-2, WHA_GSR-4 and WHA_GSR-5, completed liquidated the companies).

the Company established Gunkul Power Development Co., Ltd. to operate solar rooftop power generation and distribution for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority, as well as to operate businesses of constructing power plant and distributing equipment for electrical and other systems related to power plant construction. The Company held a stake of 99.97% of the 1,000,000-baht registered capital (current capital is 300,000,000 baht).

WHA Corporation PCL established WHA Gunkul Green Solar Roof 1 Co., Ltd. (WHA_GSR-1), WHA Gunkul Green Solar Roof 2 Co., Ltd. (WHA_GSR-2), WHA Gunkul Green Solar Roof 3 Co., Ltd. (WHA_GSR-3), WHA Gunkul Green Solar Roof 4 Co., Ltd. (WHA_GSR-4), WHA Gunkul Green Solar Roof 5 Co., Ltd. (WHA_GSR-5), and WHA Gunkul Green Solar Roof 6 Co., Ltd. (WHA_GSR-6), in which the Company had stakes of 25.01% of their respective 1,000,000-baht registered capitals, to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. (Currently registered capital of WHA_GSR-1 is 11.50 million bath, WHA_GSR-2 is 1.00 million baht, WHA_GSR-3 is 14.50 million baht, WHA_GRS-4 is 1.00 million baht, WHA_GSR-5 is 1.00 million baht and WHA_GSR-6 is 14.50 million baht)

• WHA Corporation PCL established WHA Gunkul Green Solar Roof 8 Co., Ltd., WHA Gunkul Green Solar Roof 9 Co., Ltd., WHA Gunkul Green Solar Roof 10 Co., Ltd., WHA Gunkul Green Solar Roof 16 Co., Ltd., and WHA Gunkul Green Solar Roof 17 Co., Ltd., in which the Company had stakes of 25.01% of their respective 100,000-baht registered capitals, to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. (Currently registered capital of and WHA_GSR-17 is 16 million baht and the Company still holding shares in the ratio of 25.01%. For WHA_GSR-8, WHA_GSR-9, WHA_GSR-10 and WHA_GSR-11 completed liquated the companies).
  
  
• Subsidiaries obtained contracts for solar rooftop power generation and distribution from the Provincial Electricity Authority and the Metropolitan Electricity Authority, and also obtain letters of intent and contracts for rooftop power plant construction. (Details in Section 2. Nature of Business).

Gunkul Consortium, a joint venture of the Company and Trina Solar Energy Development Pte., Ltd., obtained letters of intent from Bangchak Solar Energy (Chaiyaphum) Co., Ltd. and Bangchak Solar Energy (Nakhon Ratchasima) Co., Ltd. for their solar farm construction projects, with a total capacity of 25 MW and 1,215,000 baht in value. The Company’s scope of works amounted to 58% of the total project value.

The Company acquired the shares of Wind Energy Development Company Limited from Impact Energy Asia Limited, which operates production and distribution of electricity from wind energy. The Power Purchase Agreement with the Electricity Generating Authority of Thailand and the Provincial Electricity Authority with the contracts total 3 contracts and totaling 60 Megawatts (MW), and has been supporting the electric margin (Adder) 3.50 baht per unit, the Company acquired the common stock of 5,460,000 shares at a price of 95.60 baht for a total amount of 522,000,000 baht, representing a stake of 70% of the registered capital 78,000,000,000 baht. (Current registered capital 1,575,000,000 baht and the Company holding shares in the ratio of 99.99%)

The Stock Exchange of Thailand added GUNKUL securities as new securities on the Stock Exchange of Thailand.

GUNKUL securities traded on the Stock Exchange of Thailand for the first day (First Day Trade).

• the Company acquired the common stock of G-Power Source Co., Ltd. which operates in the production and distribution of electricity from solar energy and being a party with the Provincial Electricity Authority (PEA) which has 4 contracts of power purchase agreements in a total of 26 Megawatts (MW) with a period of 25 years and is supported by an additional electricity charge of 8.00 baht per unit for a period of 10 years. This project also receives promotional privileges from the Board of Investment (BOI). The Company has purchased 9,898 ordinary shares at a price of 6,500 baht per share, total amount 64,337,000 baht. The Company holds 98.98% of the registered capital of 1,000,000 baht (Current registered capitals: 930,000,000 baht and the Company holding shares in the ratio of 40%)
  
  
• Gunkul Powergen Co., Ltd. signed a power purchase agreement with the Provincial Electricity Authority to produce and sell electricity from solar energy, with a total of 5 contracts for a total of 30.9 megawatts of solar power for a period of 25 years. The price for the electricity purchase (Adder) from the Provincial Electricity Authority at the price of 8.00 baht per unit for a period of 10 years, including the project is also received a benefit of investment support from the Board of Investment (BOI).

• Gunkul Engineering Co., Ltd. increased its registered capital from 300 million baht to 400 million baht and changed the par value of ordinary shares from 100 baht per share to 1 baht per share.
  
  
• The company transformed into a public company and changed its name to "Gunkul Engineering Public Company Limited (PCL)".

Establishment of Gunkul Powergen Co., Ltd. with registered capital of 100,000,000 baht to produce and sell electricity from renewable energy. (Current registered capital: 992,000,000 baht and the Company holding shares in the ratio of 51%)

Establishment of G.K. Power Product Co., Ltd. (formerly known as Kerney (Thailand) Co., Ltd.), with registered capital of 2.60 million baht. (Current registered capital : 100 million baht)