52 During the year 2021, the subsidiary exercised equity warrant conversion rights to acquire 31 million additional ordinary shares of MBK Plc. of Baht 381 million, representing 1.77 percent of MBK’s ordinary shares. MBK Plc. concurrently issued additional ordinary shares to accommodate the conversion of the equity warrants, leading to the combined shareholding of the Company and its subsidiary in MBK Plc. of 23.32 percent as at 31 December 2021 (Separate financial statements: 21.56 percent). When exercising conversion rights, the subsidiary measured the fair value of the identifiable assets and liabilities at the acquisition date. The fair value calculated in proportion to the investment acquired by the subsidiary was Baht 269 million (referring to the latest financial statements available as of the acquisition date), and the excess of the cost of acquisition over this value, amounting to Baht 112 million, was presented under investment. TM Communication and Brand Management Co., Ltd. During the year 2020, The Company purchased 24,999 shares of TM Communication and Brand Management Co., Ltd. for Baht 3 million, representing a 50 percent shareholding. Since this was a joint investment, the Company recognised it as investment in a joint venture company. 13.2 Share of profit from investments in associated companies and joint venture (Unit: Million Baht) Consolidated financial statements For the years ended 31 December Share of surplus from the change in the ownership Share of other interests in Share of profit (loss) comprehensive income (loss) subsidiaries of an associate Dividend received Company’s name 2021 2020 2021 2020 2021 2020 2021 2020 Associated companies TMBThanachart Bank Plc. 2,256 2,022 (62) 58 - - 919 194 MBK Plc. (271) 132 - (169) (4) - - 160 Joint Venture TM Communications and Brand Management Co., Ltd. 1 - - - - - - - Total 1,986 2,154 (62) (111) (4) - 919 354 268
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