On 11
February 2025, JCK International Public Company Limited (JCK), the issuer of
JCK213A bond, held a bondholders’ meeting electronically. However, the number
of bondholders attending the meeting did not meet the quorum requirements as
specified in the terms and conditions. Therefore, the company will re-convene
the bondholders’ meeting electronically on 21 February 2025 at 14.00 hours to
consider the following matters:
(1)
Extending the maturity period for bond redemption by additional two years, with
the new maturity date set for 22 March 2027;
(2)
Increasing the interest rate from 7.25 percent per year to 7.50 percent per
year, during the extended maturity period;
(3)
Adjusting the principal repayment schedule to four installments, with the first
three installments comprising a total of no less than 9 percent of the bond value,
and the fourth installment settling the remaining balance on the extended
maturity date;
(4) Canceling the redemption of
collateral and partial principal repayment of the bond for the mortgage release,
as approved by the Bondholders’ Meeting No. 1/2024;
(5) Revising the terms and conditions regarding
the determination of collateral redemption
value and introducing additional conditions for cases where the bond issuer
exercises the right to redeem or request the return of collateralized and/or
replacement assets.
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 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 comprehensive
information before making a voting decision at the bondholders’ e-meeting.
Remark:
Daol (Thailand) Securities Co., Ltd. serves as the bondholders’ representative
for JCK213A bond due on 22 March 2025.