Chayo Group Public Company Limited (CHAYO), the issuer of CHAYO25NA, CHAYO263A, CHAYO26OA, CHAYO273A and CHAYO279A bond series, will electronically convene the Bondholders’ Meeting No. 1/2025 on 29 July 2025 at 14.00 hours. The matters for consideration are as follows:  
          (1) Extending the redemption maturity periods for all five bond series by additional two years, and dividing the principal repayment into two installments; The first installment, totaling at least 10 percent of the current unredeemed bond value, will be made on the original maturity date, and the second installment will repay the entire remaining balance on the extended maturity date; 
          (2) Increasing the bond interest rate by 0.125 percent per year throughout the extended maturity periods, as follows:  

              - For CHAYO25NA bond series, from the original rate of 6.00 percent per year to 6.125 percent per year;
              - For CHAYO263A bond series, from the original rate of 6.05 percent per year to 6.175 percent per year; 
              - For CHAYO260A and CHAYO273A bond series, from the original rate of 6.25 percent per year to 6.375 percent per year. 
              - For CHAYO279A bond series, from the original rate of 6.40 percent per year to 6.525 percent per year.    

          CHAYO will propose the bond interest rate increase for consideration upon the bondholders’ approval of the extension of the redemption maturity periods under Item (1).
          (3) Adding an obligation requiring the bond issuer to allocate at least 50 percent of the net proceeds received from the sale of land located on Koh Yao Yai, Phang Nga Province, after deducting relevant expenses, to repay all bond series for which the extension of the maturity periods have been approved. CHAYO will propose this additional obligation for consideration after the bondholders approve the redemption maturity periods as per Item (1).      

          (4) Granting an exemption from an event of default under the terms and conditions when the bond issuer proposes to the bondholders’ meeting to revise the bond repayment conditions and/or negotiate debt restructuring with financial institutions or other creditors (if any);  
          (5) Canceling the bond issuer’s obligation to report credit rating review results (Credit Update), whereby the company will be no longer required to conduct credit rating reviews as specified in the terms and conditions;  

          (6) Allowing the bond issuer to exercise the right to repay the bonds before the maturity dates, either in whole or in part, without incurring any prepayment fees.

 
The SEC requires that the bondholders’ representative analyzes 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’ meeting.       

Note:

Asia Plus Securities Public Company Limited serves as the bondholders’ representative for all five bond series, as follows: 
          - CHAYO25NA bond series, to be due on 20 November 2025
          - CHAYO263A bond series, to be due on 29 March 2026 
          - CHAYO26OA bond series, to be due on 6 October 2026
          - CHAYO273A bond series, to be due on 15 March 2027 
          - CHAYO279A bond series, to be due on 6 September 2027