The share price of JKN Global Group Public Company Limited (SET: JKN) rose as much as 5% before the market closed on Tuesday, but lost tailwind and settled with 2.63% gain at THB 1.17 per share.
The company has been in the spotlight since the partial default of JKN239A Debentures on September 1, which plunged its share price by 50% since then. Now, the company will convene the debenture holders’ meeting for the said debentures tomorrow.
JKN expected to make several propositions to debenture holders tomorrow, including higher interest rates in exchange for terms amendment.
It was reported and confirmed by the company earlier this month that JKN has reached an agreement with Top News Digital Media Company Limited (Top News) to collaborate on the production of news and information programs to be broadcast on the JKN18 channel.
However, JKN did not disclose the amount of “compensation” that it is expected to receive from this collaboration on the production. It was reported earlier from the source that the amount of THB 500 million will be paid to JKN for allowing Top News to step in as co-producer in the channel.
Mr. Jakkaphong Jakrajutatip, Chief Executive Officer of JKN, once stated in a press release not long after the default that the company intended to fully pay its debt and the company still had strong growth as well as net profit. Moreover, the company was expected to realize an income of THB 400 million, while its sales on the content segment still showed solid expansion. Thus, Mr. Jakrajutatip reaffirmed that JKN was confident in its ability to repay its debt within this year.
