The Thailand Securities and Exchange Commission issued a supervisory notice urging bondholders in three Jasmine Technology Solution Public Company Limited bond series (JTS254A, JTS272A and JTS282A) to review available information, exercise their voting rights at the upcoming electronic bondholders’ meeting, and seek comprehensive details from the issuer or the bondholders’ representative before voting. It also required the bondholders’ representative to provide an analysis of the benefits, shortcomings and potential impacts on bondholders for both approving and rejecting the proposed resolutions, with supporting reasons and the representative’s opinion. For JTS254A, the meeting agenda covers a waiver of an event of default following non-payment of principal and interest due on 8 April 2025, including cancellation of immediate repayment and default interest; a one year and three month maturity extension to 8 July 2026; a revised principal repayment profile in four instalments with the first three totalling at least 43 percent of the bond value on the issuance date; and an interest rate increase from 6.25 percent to 7.00 percent per year for the extended period. For JTS272A and JTS282A, bondholders will consider waiving events of default linked to JTS’s failure to repay more than THB 300 million of JTS254A principal and to the issuer’s proposal to JTS254A bondholders to defer or change the repayment schedule. The e-meeting is scheduled for 8 May 2025, with the JTS254A session at 14:00 and the JTS272A and JTS282A session at 15:30. The issuer indicated that if JTS254A bondholders do not approve the default waiver, no further agenda items will be proposed and the company will repay principal and interest within 30 days of receiving the bondholders’ representative’s notice.

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