“Stark Corporation in Default: 5 Unredeemed Tranches of Debentures – Bondholders Meeting Announced”

Stark Corporation Public Company Limited or STARK Informed through the Stock Exchange of Thailand that according to the company has issued 5 series of debentures that have not yet been redeemed. In this regard, under the terms and conditions, the debenture issuer has a duty to comply with the Securities and Exchange Act and other relevant laws, including rules, regulations, and orders issued by law. Including the duty to submit annual financial statements to the Office of the Securities and Exchange Commission (SEC Office), but the company did not submit the financial statements within the time specified in the Tor Jor. 44/2556 announcement. It is the case that the company does not comply with the law and is an event of default according to the terms and conditions.

For the debentures in which the event of default is all tranches of the Company’s debentures that have been issued and not yet redeemed, totaling 5 tranches. And the outstanding principal amount of all 5 series of debentures will be equal to the number of debentures issued. At present, the Company has not defaulted on any debt payment. All 5 series of debentures are name-registered debentures Unsubordinated, uninsured and there are debenture holders’ representatives with a total value of 9,198.40 million baht.

1. Debentures of Stark Corporation Public Company Limited No. 1/2021 Tranche 1 Due 2023 (“STARK239A”) Number of debentures issued and principal amount issued 1,291.50 million baht, maturity date of debentures 2 Sep 2023

2. Debentures of Stark Corporation Public Company Limited No. 1/2021 Tranche 2 due 2024 (“STARK249A”) Number of debentures issued and principal amount issued amount 949.50 million baht, maturity date of debentures 2 Sep 2024

3. Debentures of Stark Corporation Public Company Limited No. 1/2022 Tranche 2 Due 2024 (“STARK245A”) Number of debentures issued and principal amount issued amount 1,701.10 million baht, maturity date of debentures 12 May 2024

4. Debentures of Stark Corporation Public Company Limited No. 1/2022 Series 3 due in 2020 2025 (“STARK255A”) Number of debentures issued and principal amount issued in the amount of 1,322 million baht, maturity date of debentures 12 May 2025

5. Debentures of Stark Corporation Public Company Limited No. 2/2022 due 2024 (“STARK242A”), the number of debentures issued and the principal amount issued in the amount of 3,934.3 million. Baht Maturity date for debenture redemption 17 Nov 2024

However, the company and the bondholders’ representative will hold a bondholders’ meeting on April 28, 2023 at 2:00 p.m., via electronic means. To consider the following related agendas: (a) exemption of default caused by the debenture issuer submitting the 2022 annual financial statements later than required by law; under all debentures due immediately