TTCL-W1 closed the first trading day at 1.10 baht.



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TTCL-W1 The stock is trading at 1.19 Bt, up from 1.31 Bt and down to 0.65 Bt.

Meanwhile, TTCL closed at 7.95 Bt, up 0.05 Bt (+ 0.63%). The value of the transaction is 23.32 million baht, the market price is 7.95 baht, the highest price is 8.10 baht and the lowest price is 7.90 baht.

TISCO Securities In the analysis, the fair value of the warrants TTCL's first TTCL-W1 course is Bt2.83 (BSM), based on the share price of the parent company of 7.90 Bt and 86% volatility on equities. Holders of TTCL-W1 had the price of the XW sign of 2.75 Bt (the stock price fell by 0.55 Bt on May 10 and that of XW from one year ago). ratio of 5: 1)

. The fair value of TTCL-W1 is quite high due to the high volatility of the parent stock in the past. Worse than expected Including concerns about the need to increase capital. And the age of the mandates is relatively high (3 years). We recommend that Time Decay be cautious and the volatility of the par value decrease, giving a fair valuation. Based on the fair value of Bt5.60, TTCL will have a fair value of Bt1.60 We recommend to avoid the investment

with a valuation base TTCL-W1 of Bt2.72-3.00 . Volatility 86% per annum

TTC Engineering design services Supply of machinery and equipment

TTCL-W1 Issue of 112 million shares allocated to existing shareholders at a ratio of 5 existing shares: 1 Convertible securities (XW sign 10 May 2018) Exercise Ratio: 1: 1 @ 18.00 Baht, with a term of 3 years, with the last exercise date of June and December. First Exercise June 28, 2062 and Final June 28, 2021)

– Infomation of Pornpen Duang Chalermwong / Sasithorn Tel: 02-2535000 ext. 345 Email: [email protected]

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