INFORMATIVE NOTICE – GULF ENERGY DEVELOPMENT PCL(GULF.BK) & INTOUCH HOLDINGS PCL(INTUCH.BK) MERGER

Dear Clients,

On Jul 16, 2024, On Jul 16, 2024, INTOUCH HOLDINGS PCL(INTUCH.BK) and GULF ENERGY DEVELOPMENT PCL(GULF.BK) announced an amalgamation to restructure related companies. The two companies will merge and form a new entity GULF DEVELOPMENT (NewCo). The allocation of shares in the NewCo will be in accordance with the following fixed ratios: 1 existing share in GULF ENERGY DEVELOPMENT PCL to 1.02974 shares in NewCo and 1 existing share in INTOUCH HOLDINGS PCL to 1.69335 shares in NewCo. On February 10, 2025, INTOUCH HOLDINGS PCL announced a joint shareholder meeting on March 25, 2025 to approve matters related to the amalgamation. The NewCo will be named as Gulf Development Public Company Limited. Moreover, there will be a trading suspension of INTOUCH HOLDINGS PCL and GULF ENERGY DEVELOPMENT PCL starting from March 21, 2025 to April 2, 2025. The shares of NewCo are expected to commence trading on the Thailand stock exchange on April 3, 2025.

Solactive will remove INTOUCH HOLDINGS PCL and GULF ENERGY DEVELOPMENT PCL from the index and add the shares of GULF DEVELOPMENT(NewCo) with a theoretical price calculated based on deal terms effective on April 3, 2025(Open).

Press Releases:
https://weblink.set.or.th/dat/news/202407/0201NWS160720242125300323E.pdf
https://weblink.set.or.th/dat/news/202502/0201NWS110220250646250765E.pdf
https://links.sgx.com/FileOpen/ann_20250228.ashx?App=Announcement&FileID=835013