Siamnuwat
Co., Ltd., the issuer of SNW231A, SNW233A and SNW224A bonds,
will convene the bondholders’ electronic meeting No. 1/2567 on 23 January 2024 at 13.00 hours, 14.00 hours, and 15.00 hours, respectively. The e-meeting’s agenda
contains subject matters for consideration as follows:
Agenda
Item 1: Consideration for approval of an extension of the
maturity dates of SNW231A, SNW233A and SNW224A bonds for additional nine
months;
Agenda Item 2:
Consideration for approval of an additional collateral increase through
registration of business collateral rights to claim the entire amount of the deposits
in the escrow account, in proportion to the company’s amounts of debts to each
tranche of the bonds, namely SNW231A, SNW233A
and SNW224A;
Agenda
Item 3: Consideration for approval of a waiver for the company’s inability to
comply with the requirements regarding the maintenance of the debt-to-equity ratio
that incurs interest, which will be reflected in the financial statements for
the year 2023, as a cause of default of the terms of rights of SNW231A, SNW233A and SNW224A bonds;
Agenda
Item 4: Consideration for approval of a partial repayment of the principal,
with a total amount not less than 3 percent of the principal value on the issuance
date (accounting for 6 million baht).
The partial repayment date is proposed to be made on 28 April
2024, and the remaining principal is to be repaid on 28 January
2025, which is the extended maturity date of SNW224A bond.
The SEC
requires that the bondholder representative analyze the benefits and
shortcomings as well as the potential impacts on the bondholders both in cases
of approval and decline of approval for the above matters with respective
supporting reasons, and clearly provide information to the bondholders together
with the opinions of the bondholder representative. The bondholders are,
therefore, encouraged to thoroughly review the information and exercise their
rights to protect their own interests. They should also make necessary
inquiries to the bondholder representative to obtain complete information
before making an informed decision at the bondholders’ e-meeting.
________________________
Note: Daol
(Thailand) Securities Public Company Limited is the bondholder representative
of SNW231A, SNW233A and SNW224A.