On June 14, 2016, at 10:30 AM, Mr. Vichai Srivaddhanaprabha, Chairman of King Power Group, along with Mr. Tharathpol Baelveld, CEO of Thai AirAsia, held a press conference regarding the purchase and sale of shares in Asia Aviation Public Company Limited at the multipurpose area on the 1st floor of King Power's headquarters on Rang Nam Road.

On December 27, 2017, at 5:05 PM, Asia Aviation Public Company Limited (AAV) submitted a letter to the Stock Exchange of Thailand (SET) regarding changes in major shareholders and company directors after the 5th/2017 board meeting acknowledged the signing of the share purchase agreement on December 25, 2017, between Mr. Tharathpol Baelveld as the buyer and Mr. Vichai Srivaddhanaprabha, Mr. Aiyawatt Srivaddhanaprabha, Ms. Voramas Srivaddhanaprabha, Mr. Apichart Srivaddhanaprabha, and Ms. Arunrung Srivaddhanaprabha as the sellers. The transaction involved 1,761 shares, accounting for 36.3% of the total shares, at a price of 4.70 baht per share, totaling 8.279 billion baht.

Mr. Tharathpol Baelveld, CEO of Thai AirAsia, stated that the purchase of AAV shares from Mr. Vichai Srivaddhanaprabha, Chairman of King Power Group, and his family reinforces the commitment to the airline and confirms that business expansion will continue according to the original goals. Previously, he held a 5% stake in AAV, but after this purchase, he became the major shareholder with a 41.3% stake in the company.

Regarding the reason for buying back AAV shares from the Srivaddhanaprabha family, Mr. Tharathpol stated that he has a strong connection to the airline business, having been involved since the airline's inception. Holding such a stake allows him to have a clearer direction for the company.

“I assure you that my team and I, who have been with the airline since day one, will continue to play a crucial role in managing Thai AirAsia, along with our dedicated employees who have worked hard to achieve the number one market share in the country. Thai AirAsia will continue to invest for growth according to the 2018 plan, which includes acquiring 7 new aircraft and projecting 22 million passengers, while targeting markets in ASEAN, India, and China,” said Mr. Tharathpol.

Mr. Tharathpol further stated that the purchase of AAV shares was financially supported by Bangkok Bank Public Company Limited. After the share transaction with the Srivaddhanaprabha family is completed, Mr. Tharathpol will proceed according to the regulations and conditions of the Capital Market Supervisory Board's announcement regarding the rules, conditions, and methods for acquiring securities to control the business, which requires a mandatory tender offer for all common shares of the company. He plans to submit the tender offer on January 8, 2018, to purchase the remaining shares from other shareholders, approximately 58.7% of the total issued shares of AAV, at a price of 4.70 baht per share.

Previously, on June 14, 2016, Mr. Vichai Srivaddhanaprabha and Mr. Tharathpol Baelveld held a press conference regarding the purchase and sale of shares in Asia Aviation, where Mr. Tharathpol sold 1.892 billion shares, accounting for 39% of the total shares, to Mr. Vichai at a price of 4.20 baht per share, totaling an investment of 7.945 billion baht.

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