JC Kevin Development Co., Ltd., as the issuer of JCKD206A bonds, will hold the Bondholders’ Meeting No. 1/2024 electronically on 21 May 2024 at 14.00 hours. The e-meeting’s agenda contains subject matters for consideration as follows:
Agenda Item 1: Consideration for approval:
(1) Extension of the maturity date for the bond redemption for another two years;
(2) Partial repayment of the bond principal in nine installments by reducing the par value per unit, due on the interest payment dates throughout the extended period of the bond maturity.
Agenda Item 2: Consideration for approval of increasing the interest rate from 7.50 percent per year to 7.75 percent per year throughout the extended period of the bond maturity;
Agenda Item 3: Consideration for a waiver of the following matters as an event of default according to the specified terms, and a waiver of actions related to such event of default:
(1) The bond issuer’s failure to perform the duty of promptly notifying the bondholder representative in writing of any event of default or any event that may become an event of default;
(2) The bond issuer’s default on debt repayment under loan agreements to other creditors with a total value exceeding 400 million baht;
(3) The bond issuer being subject to a final judgment or an arbitration award requiring a payment, either in a single instance or cumulatively, exceeding 400 million baht or an equivalent amount in another currency.
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: Asia Plus Securities Co., Ltd. acts as the bondholder representative for JCKD206A bonds.