JASIF held a meeting of unitholders on 23 Aug. to consider waiving breaks and payment defaults. Ready to amend the contract as requested by JAS-TTTBB

JASIF held a meeting of unitholders on August 23 to vote to accept no amendment to the contract as requested by JAS-TTTBB after there was a proposal to request a deferment of a moratorium on rental payments - default on rental payments according to the rental income guarantee contract. as well as cancellation and amendment of contracts

Bualuang Asset Management (BBLAM), as the fund manager of the Jasmine Broadband Internet Infrastructure Fund (JASIF) , announced that, as of July 11, 2566, Jasmine International Public Company Limited (JAS), as the unit holder representing 19% of the total units in the fund, has requested a Special General Meeting (SGM) of unit holders (1/2566) to consider various issues aimed at resolving problems arising from the economic situation and the broadband internet business affecting Triple T Broadband Public Company Limited (TTTBB), and to ensure TTTBB's continued operation, sufficient cash flow for liquidity management, and continued rental payments to the fund.

The management company has discussed with JAS TTTBB and Triple T Internet Company Limited (TTTI) and has considered the proposal to request a waiver to suspend rental payments and default on rental payments according to the rental income guarantee contract. as well as the cancellation and amendment of the contract to procure benefits from infrastructure assets. and other related matters

In this regard, in accordance with clause 12.1.6 of the prospectus for offering investment units of mutual funds. which requires the management company to hold a meeting of unitholders upon receiving a request from unitholders who collectively hold investment units not less than 10% of the total investment units sold of the mutual fund The Management Company agrees to convene the Extraordinary General Meeting of Unitholders No. 1/2566 to consider and approve the matters as requested by JAS.

The management company deems it appropriate to hold an Extraordinary General Meeting of Unitholders No. 1/2566 on 23 August 2566 at 14.00:2 p.m. at Le Concord Ballroom, 31nd floor, Swissotel Bangkok Hotel, and has fixed the date on 2566. July 1 is the date to determine the names of unitholders who have the right to attend the Extraordinary General Meeting of Unitholders No. 2566/XNUMX (Record Date).

In Agenda 1, to consider the waiver of the suspension of rent payment and the default of rent payment. as well as the cancellation and amendment of the agreement for procuring benefits from the infrastructure assets. and other matters Related

Proposed matter: proposed for consideration

1) Waiver of default on rental payments under the Amended and Restated Rental Assurance Agreement from the month of July 2566 (which will be due on 17 July 2566) until The unitholders' meeting resolved to approve the said waiver by requiring TTTBB to pay the outstanding rent and interest at the rate of 7.5 percent per year calculated until the date the unitholders' meeting resolved to approve the said waiver. The payment will be divided into 6 equal installments, starting from January 2567 onwards until the June 2567 installment, which will be paid on the due date for rent payment according to the agreement to amend and replace the main lease agreement.

2) Cancel (a) the Amended and Restated Rental Assurance Agreement and (b) the Amended and Restated Rental Assurance Agreement (Amended and Restated Marketing Services Agreement). It will have the effect of canceling and suspending payments according to both contracts from the date the unitholders' meeting resolved to approve them onwards. and amend the mutual fund management project as necessary to comply with the resolution of the unitholders' meeting.

3) Consider amending the Amended and Restated Main Lease Agreement, with the important details being the extension of the term of the Amended and Restated Main Lease Agreement from the original expiration date of 29 January 2575 to on 31 December 2581 and the rental rate from 30 January 2575 until 31 December 2575 will be equal to 402.37 baht per core kilometer per month. The rental rate from 1 January 2576 until 31 December 2581 will be increased. The rental rates mentioned above every January 1 of every year according to the rate of change of the latest Consumer Price Index (CPI) announced by the Ministry of Commerce, not more than 3 percent per year but not less than 0 percent per year.

However, this amendment to the contract does not deprive the Fund of the right to exercise the right to renew the amendment agreement and replace the main lease agreement for another 10 years after January 29, 2575 if the revenue from broadband internet in respect of FTTX service fees and xDSL of TTTBB in 2573 according to the consolidated financial statements, not less than 40,000,000,000 However, if the Fund exercises its right to renew and enters into a new lease agreement with TTTBB, it shall be deemed that the agreement in the letter of JAS on the renewal specified in Agenda 1 above is terminated. ) Including an amendment to the amendment contract and replacing the property management and maintenance contract and the contract to amend and replace the contract to transfer rights under the network service agreement and amend the mutual fund project as necessary to comply with the resolutions of the unitholders' meeting.

In addition, as the Fund entered into a loan agreement with Bangkok Bank (BBL) dated November 19, 2562 to bring loans to purchase additional optical fiber assets in 2562, the loan agreement prohibits the Fund from converting debt. or terminate the contract for procuring benefits from the infrastructure assets Including the termination of the contract to procure benefits from the infrastructure assets or TTTBB's default under the Head Lease Agreement and the Rental Assurance Agreement. It is an event of default under the credit contract.

Therefore, the mutual fund is required to receive a waiver from Bangkok Bank before it can take any action as requested by JAS. The management company is in the process of coordinating with Bangkok Bank in parallel with the unitholders meeting