Asset Wise Public Company Limited (ASW) is set to move forward with financial tools after receiving approval from the Annual General Meeting of Shareholders for the year 2022 to issue and offer convertible bonds into common shares, not exceeding 320,000 units at a selling price of 1,000 baht per unit to existing shareholders. The offering is expected to take place within this year, along with a capital increase of 506,985,818 common shares with a par value of 1.00 baht per share, and the issuance of the second series of warrants (ASW-W2) amounting to 96 million shares with an exercise price of 12 baht per share, strengthening its financial position to support growth plans towards achieving a sales target of 10 billion baht.

Mr. Krungchet Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading property developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that on April 20, 2022, the Annual General Meeting of Shareholders approved via electronic media (E-AGM) the allocation of warrants series 1 (ASW-W1) not exceeding 285,373,707 units to existing shareholders at a ratio of 3 existing common shares to 1 warrant unit, valid for 2 years from the date of issuance, with an exercise ratio of 1 warrant to 1 common share at an exercise price of 12 baht per share, with the record date set for March 11, 2022.

Additionally, the shareholders approved the issuance and offering of new convertible bonds of the company, granting the right to convert into common shares not exceeding 320,000 units at a selling price of 1,000 baht per unit, totaling a maximum offering value of 320 million baht to existing shareholders based on their shareholding ratio (PPO) at a ratio of 2,676 existing shares per 1 convertible bond unit. The meeting also approved the issuance and offering of warrants for the purchase of common shares series 2 (ASW-W2) not exceeding 96 million units, representing 11.21% of the company's paid-up capital, valid for 2 years, to be allocated to existing shareholders who subscribe and are allocated convertible bonds based on their shareholding ratio at a rate of 1 convertible bond unit per 300 units of the second series warrants (ASW-W2) with an exercise price of 12.00 baht per share.

Furthermore, shareholders voted to increase the registered capital of the company by 506,985,818.00 baht from the previous registered capital of 856,121,119.00 baht to a new registered capital of 1,363,106,937.00 baht through the issuance of 506,985,818 new common shares with a par value of 1 baht each, supporting the issuance of general mandate common shares for a limited number of 85,612,111 shares, the issuance and offering of ASW-W1 for 285,373,707 shares, the issuance and offering of convertible bonds for 40,000,000 shares, and the issuance and offering of ASW-W2 for 96,000,000 shares.

The purpose of issuing convertible bonds and warrants this time is to use the funds raised for investments in ongoing projects such as the Atmos Oasis On Nut, Atmos Flow Min Buri, and The Honor Yothin Phatthana, among others. Additionally, the funds will be used to invest in the installation of solar panels on rooftops for the KAVE TU low-rise condominium project in a prime location near Thammasat University and the KAVE Town Shift condominium project in Rangsit-Bangkok University, which is part of the Green Loan or funding support for alternative energy or renewable energy development projects, as well as to serve as working capital for the company's operations.

“After the completion of the issuance of financial instruments, the company's structure will be strengthened, enabling more agile operations to support growth plans both now and in the future. This year, ASW plans to develop 7 new projects, including condominium and housing projects, with a total project value of 12.4 billion baht, aiming for sales (pre-sales) of 10 billion baht in 2022, while striving to become a leading property developer in the country,” Mr. Krungchet stated.

Asset Wise Public Company Limited (ASW) is engaged in real estate business, committed to developing high-rise and low-rise residential projects in prime locations under the concept of "Happiness Designed for You" or "We Build Happiness." Currently, it has developed over 39 condominium and housing projects under brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR, with a total project value exceeding 38.5 billion baht, comprising 31 completed and ready-to-occupy projects and 8 projects currently open for sale and under development. The company currently has a backlog of sales worth over 7.338 billion baht, which will be recognized as revenue continuously.