On 20 November 2023, JKN submitted information through the SET Electronic Information System regarding an issue where certain board members did not receive the invitation to the Board of Directors meeting for the consideration of the business rehabilitation petition. This incident played a role in the resignation of some JKN directors. In this regard, JKN explained that the decision not to send a formal meeting invitation was prompted by the urgency of the matter. The meeting was therefore conducted virtually via telephone instead. 

Given the significance of the case concerning the duties of listed company directors and the unclear information regarding the invitation to the Board of Directors meeting, the SEC has therefore instructed JKN and persons involved to give additional clarification and disclose the information through the SET Electronic Information system. As a listed company, JKN has the responsibility to disclose accurate and comprehensive information in compliance with the Securities and Exchange Act B.E. 2535 (1992). Additionally, the company’s directors are required to carry out their duties with due care, responsibility, and integrity, including overseeing the company’s compliance with the law. If the SEC finds any actions by JKN directors or persons involved to be inconsistent with the law, appropriate measures will be taken as deemed necessary.   

The SEC has emphasized to both representatives of JKN bondholders, i.e., Daol Securities (Thailand) Public Company Limited and Asia Plus Securities Co., Ltd., the importance of strictly adhering to the governing laws, the appointment contract of bondholder representatives, and the specified terms and conditions. They are expected to serve as a central point of communication, give advice and address inquiries from the bondholders. 

Furthermore, on 30 November 2023, the SEC will host a live session on the SEC Facebook Page on the topic, "Business Rehabilitation and Liquidation Processes and Creditor Rights in the Processes." This session, featuring experts from relevant agencies, aims to provide information to investors and those affected by business rehabilitation to enhance their understanding of their rights and the related processes.  

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Note: For more details, please refer to the FAQs on Business Rehabilitation via this link: https://www.sec.or.th/TH/Documents/Q%26A%20Rehabilitation.pdf