Tender Offer

Subject                                  : Tender offer
Listed company subject to tender offer   : GLOW ENERGY PUBLIC COMPANY LIMITED 
(GLOW)
Offeror                                  :
GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED
Tender offer period                      : From 25-Mar-2019 to 17-May-2019
Offer price
Common shares (baht per share)           : 90.8136
Net price
Common shares (baht per share) (Update)  : 90.57067362
Tender offer                             : Not for delisting
Date of securities payment settlement    : 23-May-2019
Tender Offer Agent                       : Phatra Securities Public Company 
Limited
Remark                                   : As the Offer period spans 35 business
days from 25 March 2019 to 17 May 2019 and the Tender Offeror shall receive the
shares from the Offeree after the Offer period and the Record Date, in order to
determine the rights to receive the dividend, the Offeror shall not be entitled
 to receive such dividend from the shares of the Offeree.
In order to prevent complications or errors arising from the determination of 
right to receive such dividend, and to provide clarity and to ensure fair
treatment to all shareholders of GLOW who accept the tender offer from such
Record Date to receive the dividend, any shareholder who submits the Tender
Offer Acceptance Form before 7 May 2019 shall be a shareholder whose name is
listed in the share register book as at 3 May 2019, and therefore shall remain
eligible to receive the dividend from GLOW. All shareholders of GLOW can submit
the Tender Offer Acceptance Form as from the commencement date of the Offer
Period from 25 March 2019 to 17 May 2019, during the office hours of the Tender
Offer Agent from 9:00 a.m. to 4:00 p.m., however, the Tender Offer Agent will
accept and transfer the shares of the Offeree to the Tender Offer Agent's
account as from 7 May 2019 to 17 May 2019, during the office hours of the Tender
 Offer Agent from 9:00 a.m. to 4:00 p.m.

The Offer Price is THB 91.9906 (Ninety-one point nine nine zero six Baht) per 
share (the "Offer Price"), which will be reduced by an amount of dividend to be
received by the shareholders of GLOW pursuant to the resolution of the 2019
Annual General Meeting of Shareholders of GLOW. In this regard, the Board of
Directors' Meeting of GLOW held on 18 March 2019 resolved to approve and propose
the 2019 Annual General Meeting of Shareholders of GLOW to be held on 23 April
2019 for consideration and approval of the annual dividend for 2018 of GLOW at
the amount of THB 2.785 per share.). In this regard, after deducting the interim
dividend at the amount of THB 1.608 per share (which GLOW has already paid to
the shareholders on 20 July 2018), GLOW shall pay the remaining dividend at the
amount of THB 1.177 (One point one seven seven Baht) per share, and determine
the Record Date in order to determine the rights to receive the dividend on 3
May 2019. Therefore, if the 2019 Annual General Meeting of Shareholders approves
the dividend at such amount, the Offer Price will be THB 90.8136 per share
(Ninety point eight one three six Baht) after reducing such dividend (the "Offer
Price After Reducing the Dividend Amount"). The Offer price will be paid in
cash.
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