The Thailand Securities and Exchange Commission urged bondholders in five TTCL Public Company Limited bond series to review available information and exercise their rights at an electronic bondholders’ meeting on 16 October 2025. The meeting will consider whether to grant exemptions from events of default and approve amendments to the bonds’ terms, and bondholders were encouraged to contact the issuer or the bondholders’ representative to support an informed voting decision. The agenda covers: (i) waiving events of default tied to meeting logistics, including late register closure and notification to the Thai Bond Market Association, with the issuer stating that items (ii) to (iv) will not be proposed if this is not approved; (ii) waiving a breach of the issuer’s “net debt to equity” covenant (not exceeding 3:1) as of end-2025 on the consolidated financial statements reviewed or audited by the auditor; (iii) exempting certain pre-existing and potential events of default within one year after the meeting resolution, including debt payment defaults exceeding THB 500 million (or equivalent) and inability to meet financial obligations or debt restructuring that defers payments; and (iv) approving amendments without triggering default, including extending maturities of all five series (TTCL25OA, TTCL263A, TTCL269A, TTCL277A and TTCL281A) by six years, allowing up to two additional one-year extensions tied to additional income, increasing coupon rates by 0.50 percentage points, shifting principal repayment to six instalments (including a 38.5% special instalment in an additional-income case), and adding quarterly written progress updates on additional income to the bondholders’ representative. The SEC also required bondholders’ representatives to analyse benefits, shortcomings and potential impacts for bondholders under approval and non-approval scenarios, with supporting reasons, and urged bondholders to use this information and ask questions ahead of voting.

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