Sena Development Public Company Limited (SET:SENA) entered into a share purchase agreement to acquire an additional 11.19% minority stake in J.S.P. Property Public Company Limited (SET:JSP) from Likhit Luesakulkitpaisal for approximately THB 240 million on January 7, 2022. SENA will acquire 470 million shares of JSP at a price of THB 0.5 per share in cash. Since the transaction will result in SENA holding JSP's shares in the proportion of 35.35%, which exceeds the tender offer trigger point pursuant to the Takeover Notification, SENA is therefore required to conduct a Mandatory Tender Offer to purchase the remaining 2,715,400,000 shares or 64.65% of the total issued and paid-up shares in JSP at the Tender Offer price THB 0.5 per share, being an approximate value of the Tender Offer of THB 1.36 billion. SENA received a credit line from financial institutions amount of THB 1.4 billion to fund the consideration. For the remaining, SENA will use the Company's working capital. The independent financial advisor has given the opinion in favor of the transaction for the shareholders to consider.

Transaction is subject to approval of not less than three-fourths of shareholders of SENA and other conditions precedent. Board of Directors of SENA approved the transaction. Extraordinary General Meeting of Shareholders of SENA will be held on February 28, 2022. The transaction is approved by the shareholders of SENA on February 28, 2022. Transaction is expected to complete in March 2022. Advisory Plus Company Limited acted as financial advisor and fairness opinion provider to SENA.