- Translation -
No. ACE-NEWS-8/2565
July 12, 2022
Subject: Report on the utilization of the increased capital from the initial public offering (IPO)
Dear President
The Stock Exchange of Thailand
With reference to Absolute Clean Energy Public Company Limited (the "Company") had conducted the initial public offering (IPO) of 1,018,000,000 newly issued shares on November 1 and 4-7, 2019 at the offering price of Baht 4.40 per share, and the Company had received Baht 4,395 million in the net aggregate (after deducting all IPO-related expenses), of which would be used according to the use of proceeds statement as specified in the registration statement for securities offering and the draft prospectus (the "Registration Statement"). Thereafter on 16th December 2021, the Board of Directors' Meeting of the Company No. 9/2021 passed the resolution to approve the Company to insignificantly amend the use of proceeds statement as per the details have already been disclosed by the Company to the Stock Exchange of Thailand on 10th January 2022 and to the 2022 annual general meeting of shareholders of the Company on 28th April 2022.
With regard to the insignificant amended use of proceeds statement as mentioned above, the Company would like to report the proceeds utilization as of June 30, 2022 as follows:
Unit: million Baht
Proceeds | Actual Proceeds | Remaining | |||||||||||
Utilization | Utilization | ||||||||||||
Unutilized | |||||||||||||
Objectives | Plan | ||||||||||||
Nov 2019 | Jan 2022 - | Amount as of | |||||||||||
(Estimated | |||||||||||||
- Dec 2021 | Jun 2022 | Jun 30, 2022 | |||||||||||
Amount) | |||||||||||||
1. To fund the capital expenditures of projects | 195 - 1,440 | 226 | 203 | 0 - 1,011 | |||||||||
under development i.e., 4 SPP Hybrid power | |||||||||||||
plants and 1 MSW power plant (Krabi). | |||||||||||||
2. To fund the capital expenditures of future | 1,639 - 2,515 | 1,639 | 280 | 0 - 596 | |||||||||
projects. | |||||||||||||
3. To repay debenture and/or loans from | 1,450 - 1,685 | 1,685 | - | 0 | |||||||||
financial institutions and/or other liabilities of | |||||||||||||
the Company and/or subsidiaries. | |||||||||||||
4. To fund other investments besides the | 0 - 100 | - | 58 | 0 - 42 | |||||||||
projects as stated in Objective No. 1 and No. | |||||||||||||
2 such as investments to improve operational | |||||||||||||
and production efficiency of existing power | |||||||||||||
plants, and to be used as working capital of | |||||||||||||
the Company and subsidiaries. | |||||||||||||
Total | 4,395 | 3,550 | 541 | 304 |
Please be informed accordingly.
Yours sincerely,
Tanachai Bunditvorapoom
(Mr. Tanachai Bunditvorapoom)
Director and Chief Executive Officer
Authorized Information Reporter