News Detail

Date/Time
28 Nov 2018 17:09:00
Headline
Plan and Progress Report for the correction of "C" sign of AQ Estate Public Company Limited
Symbol
AQ
Source
AQ
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                 -Translation-
SET042/2018
28 November 2018
RE:    Plan and Progress Report for the correction of "C" sign of AQ Estate Public 
Company Limited
TO:    Director and Manager
    The Stock Exchange of Thailand

Reference is made to the public presentation by AQ Estate Plc. for the 
correction of the "C" sign from the case that the Company's equities fell below
50% of the paid-up capital of Q3/2018 financial statement ending 30 September
2018, held on 28 November 2018 at 10 am. at Alix Bangkok Hotel, Building B,
Meeting room on 2nd Fl., 31 Soi Soonvijai 7, New Petchburi Road, Bangkapi, Huay
Kwang, Bangkok. The Company would like to summarize the result from the meeting
as follows:

The large amount of net loss of the Company was the result from the reserve for 
liabilities of 3,056.41 million Baht that the Supreme Court's Criminal Division
for Persons Holding Political Position ordered the Company to jointly pay for
damages to Krungthai Bank in the amount of 10,004.47 million Baht. The Company
made the payment of 1,635.74 million Baht and the remaining liabilities is
8,368.73 million Baht.

Plan for correction:
The sale of the collateralized land of 4,300 rai by the public auction and the 
auction price of the land was set by the Appraisal committee at 8,914.07 million
Baht which is greater than the remaining amount of liabilities to be paid by
the Company. On 17 October 2018, the 1st schedule of the public auction, the
auction winner purchased the collateralized land at 8,914.07 million Baht and
put the deposit of 448.50 million Baht with the Legal Execution Office. The
payment of the remaining of the purchase price was granted the extension to 1
February 2019. Therefore, the reserve for liabilities would be reversed and
deducted with the retained loss and the retained loss would be 3,339.06 million
and the total equities would be 6,668.89 million Baht. The total equities, when
compared to the paid-up capital netted off the discount on shares of 9,902.35
million Baht, would be 67.35% which is greater than 50% according to the
regulation and therefore the Company would be able to correct the "C" sign.

The Board of Directors considered to wait for Krungthai Bank for the receipt of 
the proceed from the sale of 4,300 Rai land by public auction. The Company will
report the progress to the shareholders and investors through the system of the
SET in due course.

Please be informed accordingly.

Yours Sincerely,



(Mr. Suthad Chankingthong)    (Ms.Ranchana Rajatanavin)
Director                Director
______________________________________________________________________
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