B.grimm Power Public Company LtdSET: BGRIM

Investment update in renewable energy business in Malaysia (Initial Subscription)

Jun 10, 2022 at 10:31 AM UTC · Issued by B.Grimm Power Public Company Ltd

(English translation)

No. BGRIM 08/2565

	10 June 2022
Subject:	Investment update in renewable energy business in Malaysia (Initial Subscription)
To:	President
	The Stock Exchange of Thailand
Ref:	Letter of B.Grimm Power Public Company Limited No. 16/2564 dated 10 November 2021
	regarding the investment in renewable energy business in Malaysia

Reference is made to the aforementioned letter which B.Grimm Power Public Company Limited ("B.Grimm Power") disclosed to the Stock Exchange of Thailand about the entering into Subscription Agreement with reNIKOLA Sdn. Bhd. (the existing shareholder), and reNIKOLA Holdings Sdn. Bhd. in order to purchase 285,216,652 newly issued ordinary shares of reNIKOLA Holdings Sdn. Bhd., or equivalent to 45 percent of total shares by B.Grimm Power (Malaysia) Sdn. Bhd. ("B.Grimm Malaysia"), a 100 percent owned subsidiary of B.Grimm Power.

B.Grimm Power would like to inform that B.Grimm Malaysia has already completed the initial subscription according to the Subscription Agreement on 10 June 2022. The acquisition of shares in reNIKOLA Holdings Sdn. Bhd. resulted in B.Grimm Malaysia indirectly hold 45 percent of economic interests in SBU Power Sdn. Bhd. ("SBU Power"), RE Gebeng Sdn. Bhd. ("RE Gebeng") and Halpro Engineering Sdn. Bhd. ("Halpro Engineering"), subsidiaries of reNIKOLA Holdings Sdn. Bhd.

SBU Power, RE Gebeng and Halpro Engineering are the owners of solar power projects which have total installed capacity of 88 MWdc and have entered into 21-year power purchase agreement with Tenaga Nasional Berhad (the only electric utility company in Peninsular Malaysia). Summary of information are as follows:

	Company		Installed Capacity (MWdc)		Location		Commence Commercial
				Operation

	SBU Power	5.2		Perlis, Malaysia		3 March 2018
	RE Gebeng	38.9		Pahang, Malaysia		22 January 2020
	Halpro Engineering	43.9		Pahang, Malaysia		29 June 2021


Please be informed accordingly.
					Yours faithfully,
					(Dr. Harald Link)
					President