Page 182 - ACC One Report 2567-En

ADVANCED CONNECTION CORPORATION PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2021
Therefore, the independent financial advisor for the RTS acquisition has stated that in the case of the lawsuit between RTS and a private company, which is still awaiting a ruling from the Administrative Court, in order to mitigate any risks related to the transaction under the share purchase agreement, it was stipulated that in the event the court rules that RTS must pay damages to the opposing party in any unresolved case existing at the time of the share transfer, two directors of RTS have agreed to assume responsibility and compensate RTS and/or the buyer for the full amount of any liability arising from the case. As such, any liability from the litigation occurring prior to the share purchase transaction will be borne by the two directors in accordance with the indemnity provisions under the share purchase agreement. Furthermore, in the civil case between the leasing company and RTS, the case has been finalized, and RTS is required to settle a debt of 209 million baht with the leasing company in full. This case is included as a condition precedent in the share purchase agreement, which is the responsibility of RTS to resolve before the share transaction can proceed. On September 17, 2024 (before the company acquired shares in RTS), RTS entered into an agreement to transfer and assign the rights and obligations to another company (Note 19). The management of the company has assessed that these two legal cases will not have any adverse impact on the group.
37. RECLASSIFYINGACCOUNTINGITEMS
The company has reclassified certain accounting items in the financial statements as of December 31, 2023 to be consistent with the classification of accounting items in the current period.
38. APPROVALOFFINANCIALSTATEMENTS
These financial statements were authorized for issued by the Company’s board of directors on February 28, 2025.
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Annual Report 2024 (Form 56-1 One Report)
Advanced Connection Corporation Public Company Limited
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