Interested Party Transaction: US $ 5 Million Loan Facility Agreement and Interested Person Transaction

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MARITIME SIREN PUBLIC SOCIETY LIMITED

เม อร ์ เมด มาริ ไท ม์ (จํา กัด มหาชน)

(Registration number 0107550000017)

26 / 28-29, 9e Floor Orakarn Bldg., Soi Chidlom, Ploenchit Road,

Lumpinee, Pathumwan, Bangkok 10330, Thailand.

Phone. : +66 (0) 2-255-3115 ~ 6; Fax: +66 (0) 2-255-1079

US $ 5 MILLION LOAN FACILITY AGREEMENT

AND INTERESTED PERSON TRANSACTION

Mermaid Maritime Public Company Limited (“the Borrower”) wishes to announce that it has entered into a Facility Agreement (“Facilities”) with Thoresen Thai Agencies Public Company Limited (“the Lender”), to borrow from the Lender a loan of ‘a maximum aggregate principal amount of USD 5,000,000.00 (five million United States dollars) (“Loan”). The Loan was drawn by the Borrower on the 24the of December 2021.

The objective of the Facilities is to provide the working capital necessary for the activities of the Borrower.

CHAPTER 9 OF THE LISTING REGULATIONS – INTERESTED:

The lender owns 58.22% of the total share capital of the borrower and, as the majority shareholder, is an interested person. This participation is owned by the Lender both directly and indirectly.

In addition to the Lender, are also Interested Persons:

Lender

Borrower

(as of November 30, 2021)

(at the last closing of the book on March 12, 2021)

Last name

Last name

%

CEO and

Mr. Chalermchai Mahagitsiri

Mr. Chalermchai Mahagitsiri

24.13

Shareholder

(Shares held both directly and

indirectly via the lender)

Directors

1.

Mr. Prasert Bunsumpun

1.

Mr. Prasert Bunsumpun

2.

Mr. Chalermchai Mahagitsiri

2.

Mr. Chalermchai Mahagitsiri

3.

Mr. Jean Paul Thévenin

3.

Mr. Jean Paul Thévenin

For information only and assuming that the transaction was carried out on the 31st from December 2020, i.e. the end of fiscal 2020, the value of the Loan is less than 3% of the audited value of the total net tangible assets of the Borrower, as follows:

NTA at 31st December 2020

Loan amount in% of NTA

NTA (US $ ‘000)

177,290

2.82%

Please be informed accordingly.

James Frawley

Contract manager

27e december 2021


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