Srisawad Trust for Real Estate Investment ("SSTRT") has successfully filed with the Securities and Exchange Commission (SEC) to prepare for the issuance and sale of new trust units for the first time, involving a land parcel of 4 rai, 1 ngan, and 68.9 square wah, along with 4 document storage buildings totaling 7,000 square meters, with a total value not exceeding 190 million baht. This reinforces its position as the first trust in the sector to utilize modern automated document storage technology (AS/RS), operating as a 100% Freehold trust, offering a dividend yield of 7%.

Mr. Ekachai Limsirivathana, Managing Director of SST Reit Management Co., Ltd., stated that the overall document storage service industry remains a crucial factor in data management for business operations across all sectors, both public and private, facilitating document retrieval and reference for business data verification, including audits by government agencies. Although many companies currently opt for electronic document storage, legal regulations in Thailand still require companies to retain physical documents for verification or reference as mandated by law, particularly for financial institutions that must keep certain types of documents in original paper form, such as accounting records, financial documents, legal agreements, and other legally significant documents for auditing, oversight, and retrieval as per the legal retention period of at least 5-10 years or according to each company's policy before the scheduled destruction of documents.

Therefore, due to the increasing volume of transactions and documents, along with internal regulatory requirements of each company, Srisawad Public Company Limited ("SST") as the asset owner has approved the sale of assets to the SSTRT trust for additional investment for the first time, aligning with the trust's investment policy in core real estate assets or property lease rights, particularly in document storage buildings, warehouses, and related assets.

Recently, SSTRT Trust has submitted a securities offering filing to the Securities and Exchange Commission (SEC) to seek approval for the issuance and sale of additional trust units, not exceeding 36.53 million units, to invest in the assets for the first additional investment, valued at up to 190 million baht (excluding taxes, fees, and other related expenses). The fund management company, Wana Securities Co., Ltd., will act as the trustee, and Jay Capital Advisory Co., Ltd. will serve as the financial advisor. The assets that SSTRT will invest in this time include document storage facilities in the document storage project of Srisawad Public Company Limited, comprising land of 4 rai, 1 ngan, and 68.9 square wah, and 4 document storage buildings.

1. Document Storage Building No. 36, approximately 1,750 square meters.

2. Document Storage Building No. 37, approximately 1,750 square meters.

3. Document Storage Building No. 38, approximately 1,750 square meters.

4. Document Storage Building No. 39, approximately 1,750 square meters.

All 4 document storage buildings serve as Document Storage Services Centers for businesses and government agencies, including accounting documents, financial documents, legal documents, and other important data that the law mandates to be retained for at least 5-10 years.

The potential and highlights of SST's document storage facilities include the use of innovative technologies such as modern automated document storage systems (AS/RS), large document storage centers with good ventilation systems, strong and durable steel shelving for document storage, convenient management and care, computer-controlled storage systems, and barcodes for quick and accurate document retrieval. Expert staff are available for consultation and service, with rapid document delivery for verification purposes, and a 24-hour security monitoring system with CCTV, along with measures to prevent data leaks and fire hazards.

Following this additional investment, SSTRT will increase its ownership of land, document storage facilities, public utility systems, and equipment to a total of 18 buildings, up from the current 14 buildings, resulting in a total asset value for the trust reaching 1.7 billion baht. It will also remain the only trust in Thailand classified as a document storage trust.

The assets acquired from this capital increase will be fully leased back to Srisawad Public Company Limited ("SST") for a lease term of 10 years from the date of registration of the transfer of ownership of the assets for the first additional investment, with the option to renew the lease for an additional 3 years at a time.

The SSTRT trust manager further stated that the assets for this additional investment are classified as 100% Freehold, and it is estimated that the benefit distribution per unit to trust unit holders after the first additional investment in core assets will be 0.4183 baht per unit for the accounting period from December 1, 2022, to November 30, 2023, representing a dividend yield of 7%. The total assets will increase from 1.549 billion baht at the end of Q2 2021 to 1.739 billion baht.