Oil Distributor

Tapaco Public Company Limited (TAPAC) has stated that the meeting of the Board of Directors has approved TAPAC’s subsidiary, C4 Corporation Company Limited (C4C) (a subsidiary company which is newly established and held shares by TAPAC of 99.99%), to purchase 23,000 ordinary shares of Premier Tank Corporation Company Limited (PTC) representing 23.00% of PTC total ordinary shares. The transacted shares will be purchased from the existing shareholders of PTC, which is Growider Capital Company Limited ("GWC"). The purchasing price is ฿5,200/share (par value of ฿1,000/share) for a total purchasing value of 119.60 million baht. Premier Tank Corporation Company Limited is an Oil Distributor to provide oils to consumers and oil stations in the North-eastern region of Thailand. PTC has operated to provide and store oil products such as Mogas, Diesel, Bio-diesel and other oil products. In present, PTC has contract as an oil distributor with some large oil company of Thailand. PTC has full capacity to provide oil volume of 4.2 million litres per day at its Khonkaen Hub, while the upcoming 2.6 million litres per day hub in Sisaket will be fully operated around December 2018 or January 2019. TAPAC sees that entering into this transaction will be deemed as investing in the mature revenue generating and profitable company, since PTC has operating contract with some large energy company, and the consumable demand of oil still extensively grows. If PTC has profitable net profit, investment in PTC shares will result TAPAC to realize higher operating profit due to the change of investment portion amount in PTC shares.