The Board of Directors' Meeting of Pace Development Corporation Public Company Limited (company) has resolved to approve the dissolution of the company's subsidiary, Pace Creative Agency Company Limited ("PCA"). PCA operates designing, advertising, and marketing communications businesses, and has a registered capital of THB 10,000,000. The company holds 100% of PCA's total shares. Due to the fact that the current economic condition does not suit the PCA's businesses and those businesses are not the main business of the company, the company will dissolve and liquidate PCA in accordance with law. The dissolution will not impact the company's business operation.