Jasmine Technology Solution Public Company Limited (JTS), the issuer of JTS254A, JTS272A and JTS282A bonds, will electronically convene the Bondholders’ Meeting No. 1/2025 on 8 May 2025. The session for JTS254A bond will be held at 14.00 hours, followed by the session for JTS272A and JTS282A bonds at 15.30 hours. Key matters for consideration are as follows:   

Regarding JTS254A

          (1) Granting a waiver of an event of default under the terms and conditions for the company's failure to pay the principal and interest due on 8 April 2025, which is the original maturity date of the bond, and approving the cancellation of the immediate repayment and the default interest in accordance with the notice of the bondholders’ representative;   

          (2) Extending the maturity period for bond redemption for one year and three months, to be due on 8 July 2026;    

          (3) Structuring the principal repayment into four installments, with the first three installments comprising a total of no less than 43 percent of the bond value on the issuance date, and the fourth installment settling the remaining balance on the extended maturity date;    

          (4) Increasing the interest rate from 6.25 percent per year to 7.00 percent per year, applicable throughout the extended maturity period. 

Regarding JTS272A and JTS282A bonds

          (1) Granting a waiver of an event of default under the terms and conditions for the company's failure to pay the principal of the JTS254A bond in an amount exceeding 300 million baht, and approving the cancellation of the immediate repayment and the default interest in accordance with the notice of the bondholders’ representative;

           (2) Granting a waiver of an event of default under the terms and conditions resulting from the bond issuer’s proposal to the JTS254A bondholders’ meeting to adjust the bond repayment terms, which involves a deferral or change in the debt repayment schedule. 

For the JTS254A bond, the company stated in the meeting invitation that if the bondholders vote not to approve the default waiver, it will not propose any additional agenda items for consideration at the bondholders' meeting. In such case, the company will comply with its obligation to repay the bond principal and interest in accordance with the notice from the bondholders' representative, within 30 days from the receipt date of the notice.

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: Daol Securities (Thailand) Public Company Limited serves as the bondholders’ representative for all three bond series:  
(1) JTS254A due for redemption on 8 April 2025
(2) JTS272A due for redemption on 21 February 2027
(3) JTS282A due for redemption on 21 February 2028