SEC encourages EA bondholders to assert their rights at the forthcoming bondholders’ meeting

The SEC advises EA bondholders to review information and participate in the June 20, 2025, meeting regarding important decisions on bond consolidation, maturity extensions, and restructuring options.

Bangkok, 17 June 2025 – The Securities and Exchange Commission (SEC) urges bondholders of 14 EA bond series to review all relevant details, exercise their voting rights at the bondholders’ meeting on 20 June 2025, and seek comprehensive information from the issuer or representatives for informed decisions.

Energy Absolute Public Company Limited (EA) will hold the Bondholders’ Meeting No. 1/2025 electronically on 20 June 2025 at 14:00. The quorum will be counted separately for each series, divided into seven groups. For Agenda Items 2-4, joint voting across all series will occur if Agenda Item 1 is approved.

 Key agenda items:

1. Approve joint voting for Agenda Items 2-4 across all bond series meeting quorum requirements.

2. Waive the 14-day bondholder register closure rule without breaching bond terms.

3. Extend maturity of all 14 bond series by 11 years, increase the interest rate by 0.50% annually, and repay the principal in 11 installments:

   – Installments 1, 7-9: 10% of principal.

   – Installments 2-6: 5% of principal.

   – Installment 10: 15% of principal.

   – Installment 11: 20% of principal.

   Early redemption by the issuer will be permitted.

4. Waive default status for restructuring proposals, including maturity extension, early redemption, interest adjustments, and partial principal repayment (applicable to 11 bond series).

 The SEC advises bondholders’ representatives to evaluate the benefits, drawbacks, and impacts of approving or rejecting these matters, providing clear analysis and recommendations. Bondholders are encouraged to thoroughly review all information and consult representatives before voting.

Source : SEC urges EA bondholders to exercise their rights at the upcoming bondholders’ meeting