Clover Power Public Company Limited (CV), the issuer of CV251A bonds, will convene the Bondholders’ Meeting No. 1/2568 electronically on 8 January 2025 at 10.00 hours. The e-meeting contains matters for consideration as follows:  

          (1)  an extension of the maturity period for bond redemption for another year, to be due on 21 January 2026;       

(2)  an increase in the interest rate from 6.25 percent per year to 6.50 percent per year, throughout the extended maturity period;            

(3)  a partial payment of the principal, amounting to 25 percent of the bond value, to be made on 21 July 2025, with the remaining balance to be settled on the extended maturity date;

(4)  a waiver of an event of default for the bond issuer’s negotiations of debt restructuring with financial institutions, involving extensions, postponements, or adjustments to repayment schedules; and      

(5)  a waiver of the obligation to maintain the net debt-to-equity ratio at the end of the 2024 fiscal year without it being considered an event of default.
           
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.  

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Remark: Dao Securities (Thailand) Public Company Limited is the bondholders’ representative for CV251A bonds to be due on 21 January 2025.