PROUD has announced that the Board of Directors has approved the proposal to present at the Annual General Meeting of Shareholders for consideration to approve the issuance of 243.5 million warrants (W3) to existing shareholders at a ratio of 4 existing shares to 1 warrant, with an exercise price of 2 baht per share. The registered capital will be increased from 997,840,729 baht to 1,217,517,512 baht, with a Record Date set for May 2, 2025. This move aims to strengthen financial stability and future growth while advancing new luxury projects that cater to all lifestyles, emphasizing the core slogan "ALL IS WELL for a sustainable good life," which aims to provide good returns to shareholders in the long term.

Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD), revealed that the company’s board meeting has approved the proposal to be presented at the 2025 Annual General Meeting of Shareholders to consider the approval for the issuance and allocation of warrants to purchase ordinary shares of Proud Real Estate Public Company Limited for the third time ("PROUD-W3") or "warrants" not exceeding 243.5 million units to existing shareholders at no cost, at a ratio of 4 existing shares to 1 warrant. Each warrant will have a 3-year validity from the date of issuance, allowing the purchase of 1 ordinary share at an exercise price of 2.00 baht per share. The list of shareholders entitled to receive the warrants (Record Date) is set for May 2, 2025.

Additionally, the board has approved a reduction of the registered capital by 23,826,719 baht from the original registered capital of 997,840,729 baht to 974,014,010 baht by canceling 23,826,719 unissued ordinary shares with a par value of 1.00 baht each. Subsequently, the registered capital will be increased by 243,503,502 baht from the previous registered capital of 974,014,010 baht to a new total of 1,217,517,512 baht through the issuance of 243,503,502 new ordinary shares with a par value of 1.00 baht each to support the exercise of the warrants ("PROUD-W3").

This approval from the board meeting is another key strategy to strengthen financial stability to support future investments in various projects and enhance working capital to improve liquidity for the company, as well as to increase operational capacity and strengthen business operations, which will yield good returns for shareholders in the long term.

The company is ready to move forward with the development of luxury real estate projects in rare potential locations, funded by the exercise of warrants under the concept "ALL IS WELL for a sustainable good life," aimed at elevating the standard of Thai real estate to a world-class level, catering to the lifestyles of every generation while driving comprehensive sustainable development.

“We believe that the exercise price of 2.00 baht per share for the warrants is appropriate, given the strong business fundamentals and high growth potential in the next 2-3 years, which will be a period of significant growth for the company. Currently, the company has a backlog of sales awaiting transfer valued at approximately 10,935 million baht as of December 31, 2024, which will gradually be recognized as revenue in 2025-2026.

Furthermore, the company aims for revenue of 9,000 million baht in 2025, with plans to launch 3 new luxury projects valued at a total of 9,200 million baht in 3 potential locations: Bangkok, Hua Hin, and Phuket, to ensure continuous growth. With a clear business development plan, project expansion strategies, and the creation of a global brand, we aim to increase revenue and profits appropriately, ensuring stable growth in the future,” Mr. Pasu stated.