ASW sends subsidiary 39E to buy 99.99% stake in Chewathai Estate 3 from CHEWA

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Summary · why it matters

AssetWise Public Company Limited, or ASW, informed the Stock Exchange of Thailand that 39 Estate Company Limited, or 39E, a subsidiary in which ASW holds a 99.99% stake, has purchased 9,999 ordinary shares of Chewathai Estate 3 Company Limited, or CE3, from Chewathai Public Company Limited, or CHEWA, representing 99.99% of CE3's registered and paid-up capital. As a result, CE3 becomes a subsidiary of AssetWise. The conditions precedent under the share purchase agreement were fully satisfied on 6 October 2026. The executive board of AssetWise approved the share purchase at its 29/2026 meeting on 25 June 2026, with the objective of supporting and extending the group's real estate development business. Following the transaction, 39 Estate Company Limited will hold 99.99% of CE3 and Mr. Kromchet Viphanphong will hold 0.01%. CE3 has registered capital of 1 million baht, divided into 10,000 ordinary shares with a par value of 100 baht each. As for the transaction size, the acquisition of CE3 shares qualifies as an acquisition of assets under the criteria of the Capital Market Supervisory Board, with a maximum transaction size of 0.34% based on the total value of consideration, which is below the 25% threshold, and the company has had no other asset acquisitions in the past 12 months. It therefore does not qualify as a transaction requiring disclosure under the criteria for acquisition or disposal of assets. However, AssetWise is required to report the acquisition of CE3 shares to the Stock Exchange of Thailand, as it is an investment in another company that results in that company becoming a subsidiary of a listed company.

Impact on assets 2

Real Estate▲

Off-coverage companies 2

39 Estate Co., Ltd.i
Private▲ PositiveCapitalrelevance

39E, 99.99% held by ASW, purchased the 99.99% stake in CE3, making CE3 a subsidiary.

Chewathai Estate 3 Co., Ltd.i
Private± MixedCapitalrelevance

CE3's shares were acquired by 39E, making it a subsidiary of AssetWise; no standalone impact stated.