The Board of Directors Meeting of Ananda Development Public Company Limited held on December 19, 2016, approved the establishment of 2 subsidiaries. First subsidiary's name is ADC -­ JV7 Co. Ltd. with the registered capital of THB 100,000, registered 1,000 ordinary shares, par value of THB 100. Type of business is real estate development. Second subsidiary's name is ADC -­ JV8 Co. Ltd. with registered capital of THB 100,000, registered 1,000 ordinary shares, par value of THB 100. Type of business is real estate development.

The board also approved the appointment Mr. Nopporn Thepsithar, Director, to be an Audit Committee with effect from January 1, 2017 onwards.