The SEC advises JTS bondholders to gather information and exercise rights at meetings on May 16 and 20, 2025, addressing defaults and restructuring for JTS254A, JTS272A, JTS282
The Securities and Exchange Commission (SEC) advises bondholders of three JTS bond series to thoroughly review all available information, actively participate in the upcoming bondholders’ meetings, and consult with the bond issuer or bondholders’ representative to obtain detailed and sufficient information for an informed voting decision. These meetings are scheduled for May 16 and May 20, 2025.
Jasmine Technology Solution Public Company Limited (JTS), the issuer of JTS254A, JTS272A and JTS282A bonds, convened a bondholders’ meeting on 8 May 2025 but did not meet the quorum requirement under the terms and conditions. Therefore, the company will re-convene the bondholders’ meeting electronically on 16 May 2025 at 14.00 hours for JTS254A bond, and on 20 May 2025 at 14.00 hours for JTS272A and JTS282A bonds. Key matters for consideration are as follows:
Regarding JTS254A
(1) Granting a waiver of an event of default under the terms and conditions in relation to the company’s failure to pay the principal and interest due on 8 April 2025, which was the original maturity date, and approving the cancellation of the immediate repayment obligation and the default interest, in accordance with the notice from the bondholders’ representative;
(2) Extending the maturity period for bond redemption for one year and three months, to be due on 8 July 2026;
(3) Restructuring the principal repayment into four installments, with the first three installments comprising a total of no less than 43 percent of the bond value on the issuance date, and the fourth installment settling the remaining balance on the extended maturity date;
Source : SEC urges JTS bondholders to exercise their rights at the upcoming bondholders’ meetings
