Cho Thavee Public Company Limited (CHO), the issuer of CHO212A, CHO21OA, CHO228A and CHO229A bonds, will convene the Bondholders’ Meeting No. 1/2025 electronically on 1 April 2025 at 14.00 hours to consider the following matters:  

    (1) Granting an exemption from an event of default for the bond issuer’s inability to maintain the Interest-Bearing Debt to Equity Ratio not exceeding 5:1 as of 31 December 2024;   

    (2) Granting an exemption from an event of default if the bond issuer defaults on any debt obligation (whether a single debt or multiple debts) exceeding a total of 300 million baht (applicable only to the CHO212A and CHO210A series);

    (3) Granting an exemption from an event of default under the terms and conditions for the bond issuer's engagement in debt restructuring negotiations and the proposal for the bondholders' meeting approval to extend the maturity period by additional two years, which constitutes a deferral or modification of the debt repayment schedule (applicable only to the CHO228A and CHO229A series);  

    (4) Canceling the requirement to maintain the Interest-Bearing Debt to Equity Ratio;   

    (5) Granting an exemption from an event of default under the terms and conditions for the bond issuer’s failure to pay interest due on 17 March 2025, and allowing the new interest payment date to be set for 30 April 2025, and approving the cancellation of immediate bond maturity and default interest as specified in the bondholder representatives’ documents;   

(6) Granting an extension to the bond maturity period by additional two years, with the new maturity date set for 15 June 2027;  

(7) Granting a partial interest payment for the bonds at a rate of 5.0 percent per year, with  the remaining interest payments deferred from 15 June 2025. The deferred interest shall be paid on the maturity date or the early redemption date, as applicable. (The interest rate is 7.75 percent per year for the CHO212A and CHO21OA series and 7.25 percent per year for the CHO228A and CHO229A series).

The SEC requires that the bondholders’ representatives 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’ representatives. 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:
Globlex Securities Co., Ltd. serves as the bondholders’ representative for the CHO212A bond, and Asia Plus Securities Co., Ltd. serves as the bondholders’ representative for the CHO21OA, CHO228A and CHO229A bonds. All four series are due on 15 June 2025.