Siamnuwat Co. Ltd, the issuer of SNW224A, SNW231A and SNW233A bonds, will convene the Bondholders’ Meeting No. 2/2024 electronically on 11 October 2024 at 14.30 hours. The e-meeting agenda contains the matters for consideration as follows:   

1. An extension of 10 months and 4 days for the maturity date for redemption of SNW224A bonds and a one-year extension each for SNW231A and SNW233A bonds:  

2. An increase in the interest rate of SNW224A, SNW231A and SNW233A bonds from 8.00% per year to 8.50% per year throughout the extended periods;   

3. Approval of a waiver for the failure to maintain the ratio of interest-bearing debt to shareholders’ equity at 5:1, which will be reported in the 2024 financial statements, so that it will not be considered an event of default under the terms and conditions of the SNW224A, SNW231A and SNW233A bonds: 

4. Approval of a revision to the terms and conditions concerning the deposits of proceeds from the sales of condominium units at Wish Signature 2 Midtown Siam into the escrow accounts for the SNW224A, SNW231A and SNW233A bonds; 

5. Approval of a partial repayment of the bond principal amounting to no less than 5% of the total principal value as of the bond issuance date. A partial repayment of the principal will be made on 28 January 2025, with the remaining principal to be repaid on 2 December 2025, which is the extended maturity date for the SNW224A bond.   

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.        

Remark: 

Dao Securities (Thailand) Public Company Limited acts as the bondholder representative for SNW224A, SNW231A and SNW233A bonds.