Company History

●In March 2024, a resolution was approved for the Company to invest in a solar power plant project to generate and supply electricity to the plant of Thai Agro Energy Public Company Limited (“TAE”), located in Dan Chang District, Suphan Buri Province. The Company assigned Lanna Power Generation Company Limited (“LPG”), a subsidiary company, to invest in and develop a ground-mounted solar power project (Solar Farm) with a capacity of 1.20 megawatts (MW). The electricity generated will be supplied to TAE under a Private Power Purchase Agreement (Private PPA) for a period of 15 years. The project has an estimated investment budget of approximately Baht 25 million, with commercial operation expected to commence by May 2026.

●On July 20, 2023, the Extraordinary General Meeting of Shareholders of SRT Power Pellet Company Limited (“SRT”) unanimously approved the dissolution of SRT. The dissolution was registered on the same day, and the Company is currently in the process of liquidation.

●On August 30, 2021, Lanna Power Generation Company Limited (“LPG”), a subsidiary of LANNA, provided financial assistance to SRT Power Pellet Company Limited (“SRT”), a subsidiary of LPG engaged in the production and distribution of wood pellets. Due to the impact of the COVID-19 pandemic, SRT experienced a shortage of raw materials and was required to temporarily suspend its production. To support its financial obligations, LPG granted a loan of Baht 70,820,758.18 to SRT to repay its existing loan from Kasikornbank Public Company Limited.

●On March 4, 2020, Lanna Power Generation Company Limited (“LPG”), a subsidiary of Lanna Resources Public Company Limited (“LANNA”), invested in the acquisition of ordinary and preferred shares of SRT Power Pellet Company Limited (“SRT”) to invest in SRT’s wood pellet production and distribution project in the proportion of 99.9998 percent of SRT’s paid-up capital. The project’s production plant is located in Kian Sa District, Surat Thani Province, with a wood pellet production capacity of 60,000 metric tons per year.

●Lanna Resources Public Company Limited (“LANNA”) approved PT Lanna Harita Indonesia (“LHI”) and PT Singlurus Pratama (“SGP”), its subsidiaries in Indonesia, to sign amendments to their coal mining concession agreements with the Ministry of Energy and Mineral Resources of Indonesia (“MEMR”) in order to divest foreign or non-Indonesian shareholding from 65 percent to not more than 49 percent of the paid-up capital, in accordance with Indonesian law (Mining Law No. 4/2009). Following the divestment of LANNA’s shareholding in LHI and SGP, LANNA will retain management control over both subsidiaries, allowing their financial statements to continue to be consolidated into LANNA’s consolidated financial statements. In 2019, LANNA has completed the share valuation process and submitted the offer to the relevant government agencies in Indonesia. The divestment process is currently ongoing, with the Indonesian authorities reviewing the acquisition of the divested shares in accordance with the applicable divestment procedures.

●On July 7, 2016, Lanna Resources Public Company Limited established Lanna Power Generation Company Limited to operate the business of coal-fired power plants and renewable energy, both domestically and overseas. LANNA holds 99.99985 percent of the company’s paid-up capital.

●In 2008, Lanna (Singapore) Pte. Ltd. invested in the acquisition of ordinary shares in PT Singlurus Pratama, the holder of a third-generation coal mining concession in Indonesia, representing 65 percent of the paid-up capital. Subsequently, in 2009, all ordinary shares in PT Singlurus Pratama were transferred to Lanna Resources Public Company Limited, which now directly holds the shares.

●In 2003, Lanna Resources Public Company Limited (“LANNA”) invested in the acquisition of ordinary shares in Thai Agro Energy Public Company Limited (“TAE”), representing 75 percent of TAE’s paid-up capital. In 2005, LANNA increased its shareholding to 75.75 percent to engage in the production and distribution of ethanol (99.5% high-purity ethanol) for biofuel applications used in general automobiles. On June 2, 2014, TAE was listed on the Stock Exchange of Thailand (SET) to raise funds for investments aimed at enhancing efficiency in ethanol production and distribution. As part of the listing, LANNA reduced its shareholding from 75.75 percent to 51 percent. TAE commenced trading on the Stock Exchange of Thailand on 5 June 2014.

●In 1998, Lanna (Singapore) Pte. Ltd. invested in the acquisition of ordinary shares in PT Lanna Harita Indonesia, representing 55 percent of the paid-up capital, to undertake its first coal mining project in Indonesia. The project commenced coal production and distribution in 2001. Subsequently, in 2007, all ordinary shares in PT Lanna Harita Indonesia were transferred to Lanna Resources Public Company Limited, which now directly holds the shares.

●In 1997, Lanna Resources Public Company Limited established Lanna (Singapore) Pte. Ltd. in Singapore, holding 100 percent of the paid-up capital, to operate as a holding company investing in coal mining and utility businesses overseas. Subsequently, on June 28, 2012, the Company registered the dissolution and liquidation of Lanna (Singapore) Pte. Ltd. as part of an investment restructuring to enhance operational efficiency.

●In 1996, Lanna Resources Public Company Limited jointly invested an establishment of United Bulk Shipping Pte. Ltd. in Singapore, holding 49 percent of the paid-up capital, to engage in the ocean freight shipping business.