Earlier, the SEC had an observation on the reasonableness and appropriateness of the assumptions used in calculating the recoverable amount for considering the impairment loss of assets as related to Cannabiz way Co., Ltd and CBD Bioscience Co., Ltd., which would impact EE’s consolidated financial statements and the separate financial statements.

Therefore, the SEC notified EE to rectify the financial statements for the year 2023 and the third quarter of 2024 and subsequently submit the rectified financial statements that would have been audited and reviewed respectively by the auditor, and simultaneously report the disclosure of related information under Section 56 of the Securities and Exchange Act B.E. 2535 (1992). Additionally, the rectified financial statements and the report of the rectification must be disclosed publicly via the SETLink Electronic System by 10 February 2025*.

EE later made a request for an extension of submission deadline of its rectified financial statements for the year 2023 and the third quarter of 2024 because EE has appointed an independent financial advisor (IFA). Currently, IFA is reviewing and adjusting the assumptions for cash flows projections. Additionally, the auditor needs additional time for reviewing the information and auditing/reviewing the rectified financial statements. Furthermore, EE is preparing the financial statements for the year 2024, which would have to be audited by the auditor as well. To ensure that the timeline for submitting the financial statements for the year 2024 would not be affected, EE has therefore requested the extension of deadline for submitting the rectified financial statements.

In this regard, the SEC has permitted EE to postpone the submission and public disclosure of the rectified financial statements for the year 2023 and the third quarter of 2024. These financial statements must first be audited and reviewed by the auditor before submission, along with related reports, via the SETLink Electronic System by 28 February 2025 for the rectified financial statements of the year 2023 and by 10 March 2025 for those of the third quarter of 2024.

Remark: * SEC News No. 4/2025 headlined: “SEC notifies EE to rectify financial statements for the year 2023 and Q3 of 2024” released on 10 January 2025: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11478