Prayoon Asakan made an offer to acquire the remaining 36% stake in Global Service Center Public Company Limited (SET:GSC) from a group of shareholders for THB 90 million on July 29, 2020. Under the terms of transaction, Prayoon Asakan will acquire 90 million shares representing 36% stake at THB 1 per share. Prayoon Asakan has source of funds for making this offer in the amount of THB 250 million in securities trading accounts of AIRA Securities Public Company Limited, to make payment for the tender offer transaction. Prayoon Asakan also received a confirmation of the deposit of cash without other obligation at AIRA Securities Public Company Limited in the amount of THB 90 million. Prayoon Asakan does not intend to change the business of Global Service Center Public Company Limited. Prayoon Asakan intends to change all 4 directors representing the sellers, consisting of Yiem Chundprasit, Sugunya Sukjaroenkraisri, Anuchai Vitnalakorn and Adisai Warinsirikul. Preliminary, the tender offeror will nominate Prayoon Asakan to be a director of Global Service Center, and will consider and select qualified experts to be directors later. Prayoon Asakan does not intent to change or appoint any person to the management positions due to the original management of GSC compose of many people with experience and ability. Prayoon Asakan does not intend to delist Global Service Center Public Company Limited securities from the exchange within 12 months after the tender offer period. The transaction is subject to approval from shareholders of Global Service Center Public Company Limited. Discover Management Company Limited is of the opinion that the shareholders should reject the tender offer. The Board of Directors of Global Service Center Public Company Limited agree with the opinion of the financial advisor on the fairness of the offer price and supporting information to reject the offer although the offer has an offer price at THB 1 per share which is a price within the evaluated range evaluated by the financial advisor. Since the tender offer price is in the range between the appropriate price calculated by the independent financial advisor, therefore, shareholders should reject the tender offer and sell securities on the Stock Exchange of Thailand in order to obtain a price higher than the tender offer price. However, the price and trading amount of the securities may fluctuate during the tender offer period and after the tender offer, if there is any period within September 15, 2020 that the trading price of Global Service Center Public Company in Exchange falls below the offer price of THB 1 per share, shareholders are advised to accept the tender offer. The tender offer is expected to be filed by August 7, 2020. The offer period is expected to start from August 11, 2020 and will run till September 15, 2020. As per the update on August 24, 2020, The offer period is expected to start from August 11, 2020 and will run till September 17, 2020. As of September 11, 2020, no shares have been tendered in the offer. Absolute Advisory Company Limited acted as the tender offer preparer and PENTAI Legal Company Limited acted as legal advisor to Prayoon Asakan. Vuthichai Tumasaroj and Kanokporn Pongjetanapong of Discover Management Company Limited acted as the financial advisors and fairness opinion providers to the shareholders of Global Service Center Public Company Limited. Prayoon Asakan completed the acquisition of additional stake in Global Service Center Public Company Limited (SET:GSC) from a group of shareholders for THB 0.003 million on September 17, 2020. Prayoon Asakan acquired 2,516 shares of Global Service Center Public Company during the offer period.