Page 17 - PSTC - One Report 2023 (EN)

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Power Solution Technologies Public Company Limited
On 14 June 2021, the Company signed a share purchase agreement with Biogreen Energy 5 Co., Ltd in the amount of 17,000,000 baht to Mr. Kachapisit Boonchusri in accordance with the resolutions of the Board of Directors of Power Solution Technology Public Company Limited No. 8/2018 held on 3 December 2018 and No. 4/2021, which was convened on 2 July 2021. Biogreen Energy 5 Company Limited (“BGE5”), a subsidiary of the Company engaged in the business of producing energy from biomass, in which the Company holds 99.97% of the registered capital, consists of 4,897 common shares and 5,100 preferred shares at a par value of 10 baht per share. On 16 June 2021, the Company signed a share purchase agreement for the sale of shares in Bioco Green Company Limited in the amount of 11,094,000 baht to Woodverk Energy Company Limited and Sahakij Klaeng Company Limited in accordance with the resolution of the Board of Directors of Power Solution Technology Public Company Limited No. 3/2021, which was convened on 13 May 2021, to approve the company’s disposition of all the Company’s shares held in. Biogo Green Company Limited (“BGG”), which operates a biomass power generation business, with 410,700 common shares and 427,463 preferred shares. The par value of 20.75 baht per share and the share purchase agreement entered into by Biogreen Energy 2 Company Limited on 9 October 2020 was cancelled.
On 25 June 2021, the Company relocated its new head office to PSTC Building, 389 Vibhavadi Rangsit Road, Samsen Nai Subdistrict, PhayaThai District, Bangkok 10400.
On 15 October 2021, the Company received 400 million baht from an offering of debt instruments. The debentures, which are guarantors of Power Solution Technology Public Company Limited No. 1/2021, are due in 2023, giving the issuer the right to redeem before maturity at a par value of 1,000 baht per unit. The number of debentures offered for sale does not exceed 400,000 units and the redemption maturity date is 18 April 2023. The offering will be made to insitutional and/ or major investors.
On 26 October 2021, the Company registered the dissolution of three subsidiaries, namely PST Energy 3 Company Limited, PST Energy 7 Company Limited and PST. Energy 8 Company Limited in accordance with the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 6/2021, which was convened on 22 September 2021, because there were no longer plans to continue with the projects.
On 24 December 2021, the Company signed a share purchase agreement with Well Korat Energy Company Limited in the amount of 446.35 million baht to Mr. Sunthorn Kaewpichit in accordance with the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 22/2021, which was convened on 24 December 2021 to approve PST Energy Company Limited (a subsidiary) in proceeding to dispose of shares in Well Korat Energy Company Limited (“WKE”), a subsidiary (owned by a subsidiary) of a company engaged in the business of generating electricity and biomass energy in which the Company indirectly owns 100% of the registered capital, divided into 66 million common shares at a par value of 10 baht per share. The company received payment from the sale on 6 January 2022.