Major Shareholders

The shareholder structure of TOA Paint (Thailand) Public Company Limited as of April 3, 2017 and after IPO is as follow:

No. Name Before IPO After IPO
No. of Shares % No. of Shares %
1 TOAGH (1) (2) 608,400,000 34.3 608,400,000 30.0
2 Wybrant (1) (3) 253,600,000 14.3 - -
3 Mr. Vonnarat Tangkaravakoon 182,600,000 10.3 182,600,000 9.0
4 Mr. Jatuphat Tangkaravakoon 182,600,000 10.3 182,600,000 9.0
5 Mr. Nattavuth Tangkaravakoon 182,600,000 10.3 182,600,000 9.0
6 Mrs. Busatree Wanglee 182,600,000 10.3 182,600,000 9.0
7 Mr. Prachak Tangkaravakoon 91,300,000 5.1 91,300,000 4.5
8 Mrs. Laor Tangkaravakoon 91,300,000 5.1 91,300,000 4.5
9 General Public - - 507,600,000 25.0
  Total 1,775,000,000 100.00 2,029,000,000 100.00

Note: (1) The shareholders of TOAGH and Wybrant are as follows:

No. Name TOAGH Wybrant
No. of Shares % No. of Shares %
1 Mr. Prachak Tangkaravakoon 100,000 20.0 - -
2 Mrs. Laor Tangkaravakoon 100,000 20.0 - -
3 Mr. Vonnarat Tangkaravakoon 75,000 15.0 1 25.0
4 Mr. Jatuphat Tangkaravakoon 75,000 15.0 1 25.0
5 Mr. Nattavuth Tangkaravakoon 75,000 15.0 1 25.0
6 Mrs. Busatree Wanglee 75,000 15.0 1 25.0
  Total 500,000 100.00 4 100.00

(2)

TOAGH has the investment policy that designates the Company to lead the operation of Agreed Paint Businesses and entered into a non-compete agreement with the Company.

(3)

Wybrant, is an existing shareholder of the Company, offered total shares of 253,600,000 shares and 254,000,000 newly issued shares offered to the general public simultaneously. Assuming the general public subscribes for all newly issued ordinary shares as a result the general public holds 507,600,000 shares after IPO.