JKN Global Group Public Company Limited (SET: JKN) announced on Tuesday regarding the adjustment on the allocation of offered shares from the increasi

Stark Corporation Public Company Limited (SET: STARK) announced on Monday that
pursuant to the board of directors meeting on 13 December 2022 , the board of direc-
tors had decided to to exercise its rights to withdraw from the share purchase agree-
ment enter into among the company, LEONI AG and LEONI Bordnetz-Systeme GmbH
(the SPA) under the SPA and by law, resulting in the company not able to utilize the
capital increase acquired from the selling of newly issued ordinary shares to specific
investors (private placement) for the transaction.

The company clarified that it will spend such proceeds for the best benefit of the
company and its shareholders including business growth and strengthening the busi-
ness operations of the company.

The board of directors will provide the revised purpose and plan of use of proceeds
to the Shareholders Meeting in accordance with the applicable rules and regulations.

Currently, the board of directors is still in the process of determining the new purpose
and plan of use of proceeds from the capital increase for the best benefit of the com-
pany and its shareholders and will provide the outcome of such consideration to the
shareholders meeting for further consideration and approval.