Milestones

Year 2024

March 4, 2024, P.C.S. Machine Group Holding GmbH ("PHG"), a subsidiary of the Company, sold all of its 1,000 ordinary shares in P.C.S. Smart Mobility GmbH ("PSM") at a price of 1 Euro per share, or equivalent to approximately 39.3 Baht, and all of its 1,000,000 ordinary shares in P.C.S. Smart Energy GmbH ("PSE") at a price of 1 Euro per share, or equivalent to approximately 39.3 Baht, to the Company. PHG transferred the ownership of the ordinary shares of PSM and PSE to the Company in September 2024. This change in the shareholding structure has no impact on the preparation of the consolidated financial statements of the Company and its subsidiaries.

Year 2023

March 31, 2023 P.C.S. Precision Works Germany GmbH (“PWG”), a subsidiary incorporated under the laws of Germany, filed a petition for insolvency proceedings. The German court accepted the petition on March 31, 2023, to preserve liquidity and current cash on hand.
On May 12, 2023, the Board of Directors' Meeting approved the purchase of Unit No. 193/105, located on the 25th floor of Lake Rajada Office Complex, Ratchadaphisek Road, Khlong Toei, Bangkok, with an approximate area of 712.63 square meters, along with 10 parking spaces, from Mr. Siriphong Rungrotkitiyot, a director of the Company, who is a connected person of the Company, for a value of 76,964,040 Baht (excluding value-added tax).
On August 11, 2023, the Board of Directors' Meeting approved the cessation of operations of all foreign subsidiaries, in which the Company holds 100% of the total capital, both directly and indirectly. The main factor is the significant changes in the automotive industry in Europe.

Year 2022

January 14, 2022: P.C.S. Precision Works Cunewalde GmbH changed its name to P.C.S. Smart Mobility GmbH.

Year 2021

At the Board of Directors Meeting No. 6/2021 held on November 12, 2021, a resolution was passed to approve the cessation of business operations of P.C.S. Precision Works Hungary Kft. (“PWK”), a subsidiary located in Hungary. The cessation of operations will not have any material impact on the company’s operations or financial position.
P.C.S. Precision Works Hennef GmbH (“PWH”), a subsidiary in Germany, filed a petition for insolvency proceedings, which was accepted by the German court on December 16, 2021. The filing was made to preserve the company’s liquidity and current cash position.

Year 2020

At the Board of Directors Meeting No. 2/2020 held on February 21, 2020, the Board approved changes and additions to the scope, duties, and responsibilities of the Audit Committee.
At the Board of Directors Meeting No. 5/2020 held on August 7, 2020, a resolution was passed to convene the 2020 Annual General Meeting of Shareholders. The meeting was scheduled for Thursday, October 22, 2020, at the company’s head office meeting room, in accordance with the measures and guidelines for meetings under the COVID-19 pandemic situation.