JCK International
Public Company Limited (JCK) convened a bondholders’ meeting for JCK213A and JCK217A bond series on 18 July 2025 but the meeting failed to meet the quorum requirement
under the terms and conditions. The company will electronically reconvene the
bondholders’ meeting on 25 July 2025 at 14.00 hours to consider the following
matters:
(1) Extending
the maturity period for JCK213A bond redemption by another three months, to be
due on 22 June 2027;
(2) Rescheduling the principal
repayment installments for both bond series, as follows:
- For JCK217A bond
series, dividing the principal repayment into three installments, with the
first two installments totaling not less than 10 percent of the principal
amount as of the bond issuance date, and the third installment repaying the
entire remaining balance;
- For JCK213A bond series, dividing the principal repayment into three
installments, with the first two installments totaling not less than 10 percent
of the principal amount as of the bond issuance date on 24 January 2023, and
the third installment repaying the entire remaining balance;
(3)
Revising the terms and conditions for JCK213A bond series regarding the
exercise of redemption rights or the reclaiming of collateral assets under the
security agreement and/or replacement assets (if any) by extending the deadline
for the bond issuer to exercise such right or to reclaim such assets from
22 March 2026 and 22 December 2026 to 22 September 2026 and 22 March
2027, respectively.
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’ representatives
to obtain comprehensive information before making a voting decision at the
bondholders’ meeting.
Notes:
(1) Asia Plus Securities Public Company Limited serves as the bondholders’
representative for JCK217A bond series, to be due on 26 July 2027
(2)
Daol Securities (Thailand) Public Company Limited serves as the bondholders’
representative for JCK213A bond series, to be due on 22 March 2027.