Mr. Vasu Klomkliang, Chief Financial Officer of Energy Absolute Public Company Limited (SET: EA), stated that during the debentureholders’ meeting on June 27, a resolution was passed to extend the redemption period for three debentures—EA257A, EA259A, and EA261A—that were due.
As a result, the company will not have any repayment obligations this year, as the debt repayment period has been extended for an additional seven years, ensuring there will be no payment default.
Additionally, the company is considering revising the debenture repayment schedule from the extended 7 years to just 5 years. Another debentureholders’ meeting is scheduled for July 9 to discuss this proposal.
EA is confident that the proposal will be approved by the debentureholders, which would result in the automatic removal of the “DNP” (Default Not Related to Payment) symbol and the end of the “CB” (Cash Balance) designation as well.
During the Debentureholders’ Meeting No. 2/2025 on June 27, participants discussed the third agenda with the details as follows:
Agenda 3: Extension of Maturity, Call Option, Interest Rate Adjustment, and Partial Repayment
This agenda proposed:
- Extending the maturity by 7 additional years
- Granting a call option to the Issuer for early redemption
- Increasing the interest rate by 0.50% per annum during the extended period
- Allowing partial repayment of the principal
- Amending the T&C accordingly
This resolution required at least 75% approval to pass.
Debenture EA257A: Approved
Debenture EA259A: Approved
Debenture EA279A: Disapproved (approval below 75% threshold)
Debenture EA299A: Disapproved (approval below 75% threshold)
Debenture EA329A: Disapproved (approval below 75% threshold)
Debenture EA261A: Approved
Debenture EA281A: Disapproved (approval below 75% threshold)
Debenture EA301A: Disapproved (approval below 75% threshold)
Debenture EA331A: Disapproved (approval below 75% threshold)
Debenture EA297A: Disapproved (approval below 75% threshold)
Debenture EA298A: Disapproved (approval below 75% threshold)
