Bondholders of Energy Absolute Public Company Limited (SET: EA) at the meeting on August 23, 2024, approved to extend the maturity date of EA249A and will receive an additional 1.80 percent interest rate on top of the existing 3.20 percent in exchange.
In a letter disclosed to the Stock Exchange of Thailand, EA wrote that the Meeting resolved to approve (a) extension of the maturity date of the bond for another 9 months and 1 day from the original date of 29 September 2024 to the new date of 30 June 2025, which shall not constitute an event of default, that is, it is considered as the Bond EA249A has maturity date on 30 June 2025, which is the extended date and that the Bond EA249A has not been defaulted, and increase of the interest rate by 1.80 percent per annum to 5.00 percent per annum. The new interest rate will be effective from (and including) the original maturity date of 29 September 2024 (but not including) 30 June 2025, which is the new maturity date. The interest payments date is on 29 March 2025 and on the new maturity date, and (b) provision of collateral for the bond, as well as revision of the Terms and Conditions of the bond and relevant documents to be aligned with the aforementioned revision as proposed in all respects with a majority of votes representing not less than 75 (seventy-five) percent of all votes of bondholders attending the meeting and casting their votes.
The share price of EA rose THB1.60 or 26.89% to THB7.55 per share on Friday as of 15:42 local time in BKK.
