Earlier, Areeya Property Public Company Limited (A), the issuer of A255A and A258A bonds, convened the Bondholders’ Meeting No. 2/2024 for 14 tranches of bonds on 21 October 2024. However, the quorum for Agenda Items 2 – 4 regarding A255A and A258A bonds was incomplete according to the terms and conditions of the bonds. The meeting has therefore been rescheduled to be held electronically on 30 October 2024 at 14.00 hours. The e-meeting contains an agenda for consideration (the previous Agenda Items 2 – 4) as follows:      

Agenda Item 1: A waiver of approval for an extension of the maturity date for redemption for another two years, with the total debt exceeding 400 million baht, without being considered an event of default under the terms and conditions of the bonds. (This matter has been approved at the Bondholders’ Meeting No. 2/2024 on 21 October 2024);

Agenda Item 2: An approval for the use of real estate collateral to create further obligations through registration of a subsequent mortgage to secure debt repayment for other creditors;    

Agenda Item 3: An extension of the maturity date for redemption of the bonds for another two years and an increase in the interest rate by 0.25 percent per year throughout the extended maturity period;  

Agenda Item 4: An approval for partial payment of interest at a rate of 3 percent per year and a deference of the payment of the remaining interest for a period of 1 year and 6 months from the date of the Bondholders' Meeting No. 2/2024. The deferred interest will be included in the calculation for payment on the maturity date or on the date of early redemption of the bonds (whichever is applicable). This matter will take effect from the date of approval by the Bondholders' Meeting No. 2/2024.

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. is the bondholders’ representative (the A255A bonds due for redemption on 1 May 2025 and the A258A bonds due for redemption on 11 August 2025).