Gulf Energy Development Public Company Limited agreed to acquire remaining 52.6% stake in Intouch Holdings Public Company Limited

Gulf Energy Development Public Company Limited agreed to acquire remaining 52.6% stake in Intouch Holdings Public Company Limited for approximately THB 120 billion on July 16, 2024. In the amalgamation process, the shares in NewCo were allocated to existing shareholders of the Company and INTUCH at the exchange ratio of 1 existing share in the Company to 1.02974 shares in the NewCo and 1 existing share in INTUCH to 1.69335 shares in the NewCo. The exchange for shareholders of INTUCH did not include the portion of shares in INTUCH previously held by the Company.

As of October 3, 2024, at the Gulf Energy Development's Extraordinary General Meeting of Shareholders, shareholders approved the special resolution on the Amalgamation between the Company and Intouch Holdings Public Company Limited.