Areeya Property Public Company Limited (A) convened an electronic bondholders’ meeting on 22 November 2024 at 13.00 hours to address matters related to 10 tranches of its bonds. However, it was determined that for five of the 10 tranches (i.e., A265A, A269A, A271A, A271B and A275A), the number of bondholders in attendance failed to meet the quorum requirements as stipulated in the bond terms and conditions. Therefore, the company has scheduled another e-meeting for these five tranches, to be held on 2 December 2024 at 13.00 hours. The meeting will address the following issues:   

  (1) A partial payment of interest at the rate of 3.0 percent per year and a suspension of the payment of the remaining interest for one year and six months, starting from the date of the Bondholders’ Meeting No. 2/2024 on 21 October 2024;    

  (2) An inclusion of the deferred interest in the calculation for payment on the redemption date or the date of early bond redemption in full (as the case may be);

        (3) During the interest deferral period, the company would pay an additional interest of 0.50 percent per year to be included in the calculation for payment on the redemption date or the date of early bond redemption in full (as the case may be);    

        (4) A partial payment of interest and the deferral of interest to take effect retroactively from the date of the Bondholders’ Meeting No. 2/2024 on 21 October 2024. 

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.  

Remark: 

Asia Plus Securities Co., Ltd. is the bondholders’ representative for the five tranches of the A bonds.