Planet Communications Asia Public Company Limited (SET:PLANET) agreed to acquire 99.99% stake in EEC GLOBAL Cloud Company Limited from group of sellers for approximately THB 190 million on March 1, 2023. The group of sellers include Chud Hengsavad,Santi Panawong,Boonruang Polpanich,Supachoke Yongstar,Cherdchom Ongaree,Veeravat Modesri, Predee Pongsethasant and Chai Sanguansin.PLANET will acquire the entire business, which means all current and future assets, liabilities, rights, obligations, and responsibilities of EEC GC Holdings as of the entire business transfer date including 19,999,998 ordinary shares with a par value of THB 5 per share of EEC GLOBAL Cloud. The PLANET will pay consideration for the purchase and the entire business transfer of EEC GC Holdings under the transaction value of THB 270 million through not more than 135,000,000 newly issued and allocated ordinary shares of the Company at the par value of 1 Baht per share with the offering price of 2 Baht per share, representing 25.56% of the total issued and paid-up shares of the PLANET.

The PLANET has appointed WELCAP Advisory Company Limited, an authorized IFA by SEC as the independent financial advisor to give an opinion on the asset acquisition and the Request for a Waiver from Making a tender offer for all securities of the business by virtue of the resolution of the shareholders' meeting. The transaction is subject to shareholders approvals. As of April 28, 2023 Shareholders of Planet Communications Asia Public Company Limited approved the acquisition.