PROEN Corp Public Company Limited

PROEN Corp Public Company Limited, or PROEN, has received an investment promotion certificate from the Board of Investment (BOI) for its Cloud Service business for up to 8 years, as disclosed by Chief Executive Officer Kittiphun Sribua-iam. The company has been granted a corporate income tax exemption on net profits from the promoted business for up to 8 years, with the total exempted tax amount not exceeding 100% of the investment capital, excluding land costs and working capital, along with import duty benefits on machinery under specified conditions. The promotion certificate requires the project to have an investment of no less than 282.86 million baht, excluding land costs and working capital, and operations must commence within 36 months from the date the promotion certificate is issued. The project scope covers the provision of Cloud Services including both Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), along with conditions regarding the Data Center, connectivity systems, and standards for security and service provision. Kittiphun said that this BOI privilege did not come solely from the investment, but required passing conditions and standards on many fronts, including the quality of the Cloud and Data Center infrastructure, the efficiency of systems and energy usage, high-speed connectivity systems, as well as standards for security and service provision, which reflect the readiness of the infrastructure the company has developed. In addition, PROEN plans to organize training to develop knowledge and skills in using Cloud Services continuously every quarter for a period of 3 years from the date of receiving the promotion certificate, in order to upgrade the Cloud technology skills of its personnel. The company expects this investment to open opportunities for PROEN to build a new revenue base from providing Cloud infrastructure and platform services if it can increase the number of customers and system utilization rates according to plan, while the 8-year tax exemption will help profits from businesses that meet BOI conditions have a greater chance of flowing through to net profit.

PROEN Corp Public Company Limited, or PROEN, informed the Stock Exchange of Thailand that its first extraordinary general meeting of shareholders for 2026, held on September 16, 2026, approved a general mandate capital increase and the allocation of newly issued ordinary shares to existing shareholders in proportion to their holdings, or a rights offering. The company will issue and offer no more than 98,142,017 new ordinary shares with a par value of 0.50 baht each, at an allocation ratio of 4 existing ordinary shares to 1 new ordinary share, at an offering price of 0.84 baht per share, representing total fundraising of no more than 82,439,294.28 baht. The company has set September 25, 2026 as the record date for shareholders entitled to subscribe to the new shares, and the subscription and payment period will run from October 19 to 22 and on October 26, 2026, a total of 5 business days, from 09:00 to 15:30. The funds raised from the capital increase, amounting to no more than 82.44 million baht, will be used as capital for investment in and development of the data center business, to provide data storage and management services, as well as to develop solutions and software supporting services to both public and private sector customers in the future. The company expects to use the funds within 2027.