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SEC urges PHUKET bondholders to exercise their rights at the upcoming bondholders’ meeting



Wednesday 4 December 2024 | No. 264 / 2024


Bangkok, 4 December 2024 – The Securities and Exchange Commission (SEC) urges the bondholders of six tranches of PHUKET bonds, namely (1) PHUKET206A, (2) PHUKET208A, (3) PHUKET20DA, (4) PHUKET207A, (5) PHUKET207B and (6) PHUKET216A, to study all available information, exercise their rights at the upcoming bondholders’ meeting, and reach out to the bond issuer or the bondholders’ representative to obtain comprehensive and sufficient information for making an informed voting decision. The bondholders’ meeting will be held on 9 December 2024.  

Phuket Fantasea Public Company Limited, as the issuer of PHUKET bonds, will convene the Bondholders’ Meeting No. 1/2024 on 9 December 2024 at 10.00 hours for bond series PHUKET206A, PHUKET208A and PHUKET20DA, and at 13.00 hours for bond series PHUKET207A, PHUKET207B and PHUKET216A. The meeting will be held at the Blossom Meeting Room, Safari World, located at 99 Panya Intra Road, Samwa-West Sub-district, Klong Samwa District, Bangkok. The meeting contains matters for consideration as follows:
          (1) an extension of maturity period for redemption for one year and six months, to be due on 30 June 2026;
          (2) a revision of the interest payment term for the installment due on 30 December 2024 by paying interest for the regular installment at 7.25 percent per year, and paying the remaining interest for the installment due on 30 December 2021 at 5.25 percent per year; and
          (3) a revision of the remaining interest payment for the installment due on 30 June 2021 (at 6.25 percent per year) will be restructured into three separate installments over the extended period. These installments are scheduled for 30 April 2025, 30 August 2025, and 30 December 2025.           

The SEC requires that the bondholders’ 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 bondholders’ 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 bondholders’ representative to obtain complete information before making an informed decision at the bondholders’ meeting.     

    




Remark: Dao (Thailand) Securities Public Company Limited is the bondholders’ representative for all six tranches of the PHUKET bonds due on 30 December 2024. 

 






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