SMD100_SAINTMED

SMD Rise Public Company Limited, or SMD100, informed the Stock Exchange of Thailand that its Board of Directors meeting resolved to approve the cancellation of the establishment of 2 subsidiaries out of the original plan under which the company had approved the establishment of a total of 6 subsidiaries to support business expansion under its restructuring plan toward becoming a comprehensive Specialized Healthcare Service Provider. The subsidiaries whose establishment is cancelled are SMD Glynovar Company Limited, with registered capital of 1 million baht, and SMD Euroverse Company Limited, with registered capital of 1 million baht, with SMD100 planning to hold a 100% stake in both companies. Both subsidiaries have not yet been registered as legal entities with the Department of Business Development, the company has not yet paid any investment funds, and the subsidiaries have not conducted any business since the Board resolved to approve their establishment. After the company studied the feasibility and further reviewed its business plan, it found that the operations did not proceed according to the original plan, so the Board deemed that cancelling the establishment of both subsidiaries would be most beneficial to the company and its shareholders. Since both subsidiaries have not yet been registered as legal entities and no investment funds have been paid, SMD100 confirmed that the cancellation of the establishment plan does not affect the company's financial position or operating results.