Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) has set the date on August 23, 2023, to hold the Extraordinary General Meeting with an agenda to consider a termination of Rental Assurance Agreement between the company and Triple T Broadband Public Company Limited (TTTBB) in exchange for an extension of the Main Lease Agreement for another 10 years.
The termination of Rental Assurance Agreement and the extension of the Main Lease Agreement will open the way for Advanced Info Service Public Company Limited (SET: ADVANC) to acquire JASIF.
The termination of the Amended and Restated Rental Assurance Agreement between JASIF and TTTBB which will originally be expired on 22 February 2026 in respect of the optic fibre cable in the amount of 980,500 core kilometers invested by JASIF on 11 February 2015 and expired on 29 January 2032 in respect of the optic fibre cable in the amount of 700,000 core kilometers invested by JASIF on 20 November 2019 (based on the assumption that the Rental Assurance Agreement will be terminated on 31 December 2023) has the size of this transaction between THB14,953,449,078 –16,746,515,505, accounting for 18.34 – 20.54% of the net asset value of JASIF as at 31 May 2023 which was THB 81,549,094,330.
The extension of the term of the Amended and Restated Main Lease Agreement between TTTBB and JASIF from the original expiration date of 29 January 2032 to 31 December 2038 has the size of this transaction between THB 44,933,436,680 – 48,255,429,992, accounting for 55.10 – 59.17% of the net asset value of JASIF as at 31 May 2023 which was THB 81,549,094,330.
The extension of the Amended and Restated OFCs Maintenance Agreement between JASIF and TTTBB in order to extend the term to the match the extended term of the Main Lease Agreement which causes JASIF to pay the maintenance fee to TTBBB for a longer period from the expiry date of 29 January 2032 to 31 December 2038 , has the size of this transaction between THB 3,939,135,775 – 4,515,879,898, accounting for 4.83 – 5.54% of the net asset value of JASIF as at 31 May 2023 which was THB 81,549,094,330.
