Eastern Commercial Leasing Public : Approval of Related Party Transaction Parking Space Lease

Sor Kor. 29/65
11 August, 2022
To the Attention of	The Manager and Director of
	the Securities Exchange of Thailand
Subject	Approval of Related Party Transaction
	- Parking Space Lease
Attachment	Information relating to Related Party Transaction
	- The Company shall enter into a space lease agreement From
	Mr.Prapakorn Veerapong

On 11 August 2022, the Board of Directors of Eastern Commercial Leasing PLC convened its meeting number 3/2565 at 10.30 o'clock. Resolution of the Board relating to subject may be summarized below;

The Board passed resolution approving for the Company to renew enter into space lease agreement with Mr.Prapakorn Veerapong. The landlord is to be utilized as parking space for repossessed vehicles for a 2-year tenor commencing from 1 September 2022 to 31 August 2024 for value of lease amounting to Baht 1,164,126.24 The lease transaction is considered related party transaction in accordance with announcement of the Securities Exchange of Thailand with detailed information per the enclosed document.

Please be so advised.

Sincerely Yours,

Mrs. Duangrat Jaengmongkol

Director and Company Secretary

ATTACHMENT

Information summary of Related party transaction Reporting Entity: Eastern Commercial Leasing PLC

Subject: Parking Space Lease Agreement with Mr.Prapakorn Veerapong

1.	Date of transaction	11 August 2022
2.	Contracting parties
	Lessee	Eastern Commercial Leasing PLC
	Lessor	Mr.Prapakorn Veerapong
	Lessor's Business	The landlord
	Relationship	Authorized directors of Eastern Commercial Leasing PLC (ref ECL),
		and concurrently shareholders holding 44,348,480 shares
		accounting for 4.00 of ECL's issued and paid up capital

1. Nature of transaction
   ECL shall renew enter into the space lease agreement for land space part of area totaling 280 square wah located at Wang Tong Lang Sub-District, Bangkapi District, Bangkok, to be utilized as parking space for repossessed vehicles and for other purposes for a 2 years commending from 1 September 2022 to 31 August 2024 with rental payable monthly.
2. Total value of transaction and basis for determination of transaction value

Year	Monthly		Annual
	Rental (Baht)	Rental (Baht)
1	48,505.26	582,063.12
2	48,505.26	582,063.12
2-Year	Total Rental	1,164,126.24
Size of Transaction	=	Value of Transaction / Net Tangible Assets x 100

• THB 1,164,126.24 / THB 1,782,128,209.06 x 100
• 0.07% ( Remark : NTA as at June 30, 2022)

5. Names of related parties or directors with conflicting interest Name of director with conflicting interest namely:

ECL	Mr.Danucha	Veerapong, Authorized director,	Tenant
	and Chairman of the Executive Committee
	Mr.prapakorn	Veerapong, Authorized director,	Tenant
	and Managing Director
The landlord	Mr.prapakorn	Veerapong, Authorized director	Landlord

1. Meeting attendance and voting in the Board of Directors' meeting of the director with conflicting interest
   Director with conflicting interest per 5. above did not attend the meeting and did not vote in the Board meeting for the concerned agenda.
2. Nature and scope of conflicting interest of the related parties in agreeing to enter into the transactions
   The transaction valued at Baht 1,164,126.24 which was in excess of Baht 1 million but being less than Baht 20 million or accounting for 0.07% which was in excess 0.03% but less than 3% of net tangible asset of the Company thus qualifying as related transaction in accordance with announcement of the Securities Exchange of Thailand, Subject: Disclosure and operations of listed companies concerning related party transaction, classified as short term lease of real estate. This is a significant size. The Company must accordingly disclose information to the SET.
3. The Audit Committee and the Board's opinion relating to the decision to enter into the transaction
   It is necessary to lease parking space for repossessed vehicles and for other purposes as a part business operation. Rent of the landlord to offer Year 1 and Year 2 = 48,505.26 Baht/monthly. It is reasonable of rent and is a transaction that occurs according to the market price or fair price. The conditions of agreement would be the same as agreement with other party in the normal course of business.
4. The Audit Committee's opinion and/or directors' opinion which are different from that of the Board of Directors in 8 above.
5. • None -