EA prepares to meet with “EA249A bondholders” on 19 Sept. 67 to consider moving the redemption date up by 31 days.

EA prepares to meet with “EA249A bondholders” on September 19, 67 to consider moving the redemption date up by 31 days to May 31, 2568, including amendments to the bond rights terms.

On September 9, 2024, the Thai Bond Market Association (ThaiBMA) announced that Energy Absolute Public Company Limited ( EA), as the bond issuer, is preparing to hold the EA249A bondholder meeting (3/2024) on September 19, 2024, at 10:00 AM via electronic meeting (E-meeting) to consider the following agenda items.

The meeting is to consider and approve the extension of the redemption date of the debentures by 31 days from the original redemption date of June 30, 2568 to May 31, 2568, including amendments to the terms and conditions of the debentures, including any other related documents to be consistent with such amendments.

This is because the Company has arranged the 1/2567 Bondholders' Meeting on 14 August 2567, including the Bondholders' Meeting on 23 August 2567, which was postponed from 14 August 2567 due to a lack of a quorum, which the 1/2567 Bondholders' Meeting on 23 August 2567 resolved to approve.

(a) extending the maturity date for redemption of the debentures for another 9 months and 1 day from the original date of 29 September 2567 to 30 June 2568 without being considered an event of default and increasing the interest rate by another 1.80 percent per annum to a new interest rate of 5.00 percent per annum (from the original maturity date for redemption of the debentures until the 9th month and 1 day after the original maturity date for redemption of the debentures) and

(b) adding security to the debentures, including amending or changing the terms and conditions of the debentures, including any other related documents to be consistent with such amendments;

In this regard, at the bondholders' meeting No. 1/2567, the Company informed the bondholders' meeting that the Company will hold another bondholders' meeting for EA249A bonds to request approval to change the maturity date of the bonds from the original date of June 30, 2568 to May 31, 2568, so that the maturity dates of EA248A and EA249A bonds are the same date.

The maturity date for the redemption of E4248A debentures has been postponed from August 15, 2567 to May 31, 2568, subject to the same interest rate increase and collateral provision as approved by the bondholders' meeting for EA248A debentures on August 9, 2567.

The Company therefore deems it appropriate to propose to the bondholders' meeting to consider and approve the postponement of the bond redemption date to be 31 days earlier from the original bond redemption date of June 30, 2568 to May 31, 2568, including amendments to the terms and conditions of the bond, including any other related documents to be consistent with such amendments.

If the bondholders' meeting considers and approves the postponement of the bond redemption date to be 31 days earlier than the original bond redemption date of June 30, 2568 to May 31, 2568, bondholders will receive repayment of the principal and accrued interest sooner than the original payment date.

This is because the postponement of the redemption date of the debentures is a change in the details of the debentures. Therefore, the Company is required to amend the details of the redemption date of the debentures, as well as other details and conditions in the debenture details document EA249A, which is considered a part of the terms and conditions, including any other related documents.

In this regard, the Company would like to propose that bondholders consider approving the amendment to the debenture details document EA249A, which is considered a part of the terms and conditions, including any other related documents to be in line with the postponement of the redemption date of the debentures, with details appearing in the draft of the second amendment to the debenture details document.

For the high-risk environmental conservation bonds of Energy Absolute Public Company Limited No. 2/25666 Series 1, due in 2568 by postponing the maturity date for the second time and having additional collateral later, under the bond project of Energy Absolute Public Company Limited in 2, amount of 2566 baht.

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