Mitihoon – Bangkok, 6 February 2025 – The Securities and Exchange Commission (SEC) urges the JCK213A bondholders to study all available information, exercise their rights at the upcoming bondholders’ meeting, and reach out to the bond issuer or the bondholders’ representative to obtain comprehensive and sufficient details for making an informed voting decision. The bondholders’ meeting will be held on 11 February 2025.
JCK International Public Company Limited (JCK), the issuer of JCK213A bond, will electronically convene the Bondholders’ Meeting No. 1/2025 on 11 February 2025 at 11.00 hours. The e-meeting contains matters for consideration as follows:
(1) Extending the maturity period for bond redemption by additional two years, with the new maturity date set for 22 March 2027;
(2) Increasing the interest rate from 7.25 percent per year to 7.50 percent per year, during the extended maturity period;
(3) Adjusting the principal repayment schedule to four installments, with the first three installments comprising a total of no less than 9 percent of the bond value, and the fourth installment settling the remaining balance on the extended maturity date;
(4) Canceling the redemption of collateral and partial principal repayment of the bond for the mortgage release as approved by the Bondholders’ Meeting No. 1/2024;
(5) Revising the terms and conditions for determining the redemption value of collateral and introducing additional conditions for cases where the bond issuer exercises the right to redeem or request the return of collateralized and/or replacement assets.
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.
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