Bangkok, 1 August 2017 ? The SEC requires that Polaris Capital Public Company Limited (POLAR) immediately submit the special audit report which has passed due on 24 July 2017. Previously, the SEC instructed POLAR to conduct a special audit on the sources, existence and completeness of the accounting records and the disclosure in the financial statements of the liabilities whose material information differed from what had appeared in the application for business rehabilitation. POLAR missed the s...
, and approving the cancellation of the immediate repayment and the default interest in accordance with the notice of the bondholders’ representative; (2) Extending the maturity period for
pay the principal and interest due on 8 April 2025, which was the original maturity date, and approving the cancellation of the immediate repayment obligation and the default interest, in accordance
sent a letter to the bond issuer to demand immediate repayment of the bond reaching maturity. The SEC requires that the bondholder representative analyze the benefits and shortcomings as well as the
cancellation of immediate bond maturity and default interest as specified in the bondholder representatives’ documents; (6) Granting an extension to the bond maturity period by additional two years, with
terms and conditions, and a cancellation of immediate payment obligation of SABUY258A bond. Regarding SABUY263A bonds:(1) A waiver of the obligation to maintain the net debt-to-equity ratio
default under the terms and conditions. This includes the cancellation of immediate payment due of the SABUY258A bonds; (5) A waiver of maintaining the collateral-to-bond value ratio at a minimum of
interest payment date to be 30 April 2025, and approving the cancellation of immediate bond maturity and default interest as specified in the bondholder representatives’ documentation; (6) Granting
interest in four equal installments. This also includes approving the cancellation of the immediate repayment requirement and the cancellation of default interest, as specified in the notice from the
March 2025, and approving the payment of the outstanding interest in four equal installments, as well as approving the cancellation of the immediate repayment requirement and the cancellation of default