On 22 August 2025, Prime Road Power Public Company Limited (PRIME), the issuer of PRIME253B bond, held the Bondholders’ Meeting No. 2/2025. However, the number of bondholders attending the meeting did not meet the quorum requirements as specified in the terms and conditions. Therefore, the company will re-convene the bondholders’ meeting electronically on 29 August 2025 at 14.00 hours. The matters for consideration are as follows:     

          (1) Approving actions related to the bonds, with details as follows:  

                     (a) exemption from an event of default under the terms and conditions for the company’s inability to repay the PRIME253B principal and interest on 31 July 2025;    

                     (b) cancellation of the call default prescribed in the bondholders’ representative letter dated 1 August 2025, as well as all related actions taken by the bondholders’ representative regarding the event of default;        

                     (c) exemption from an event of default under the terms and conditions for the company’s failure to repay the principals and interest of PRIME253B and PRIME253A bond series on 31 July 2025, which constitutes a default in payment of any debt in a total amount exceeding 300 million baht;   

                     (d) exemption from an event of default under the terms and conditions for the company’s failure to repay the principals and interest of PRIME253B and PRIME253A bond series on 31 July 2025 and/or the company’s proposal to the Bondholders’ Meeting No. 2/2025 to revise repayment terms and/or the company’s negotiations with financial institutions or other creditors for debt restructuring within one year from the date of the Bondholders’ Meeting No. 2/2025 (if applicable), with the outstanding debt value exceeding 300 million baht.            

(2) Rescheduling partial principal repayment of not less than 30 percent of the par value per unit as of the bond issue date, from the original due date of 31 July 2025 to 28 November 2025;

(3) Approving the extension of bond maturity date for eight months and 20 days from the original maturity date;  

(4) Approving an increase in the interest rate of 0.50 percent per year, from 6.45 percent per year to 6.95 percent per year, effective from 31 July 2025 throughout the extended maturity period;       

(5) Providing additional collateral for the bond repayment (to be specified later), subject to approval of all four bond series meetings on all the matters proposed by the company at the Bondholders’ Meeting No. 2/2025, by registering a mortgage over the land under the Utilization Certificate (Nor Sor 3) located in Bo Phloi District, Kanchanaburi Province, in favor of the bondholders’ representative.  

In the event that the bondholders’ meeting does not approve Item (1), the company will not propose Items (2)–(5) for consideration and approval. Likewise, if the bondholders’ meeting does not approve Items (1)–(3), the company will not propose Item (5) for consideration and approval.

The SEC requires that the bondholders’ 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 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’ e-meeting.  

Remark:
Bluebell Securities Co., Ltd. serves as the bondholders’ representative for the PRIME253B bond due on 8 March 2026.