News Detail

Date/Time
21 Oct 2019 09:25:00
Headline
SET advises the investors to carefully study PACE's event of defaults information before making investment decision
Symbol
PACE
Source
SET
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An important information that shareholders and public investors should concern 
before making any voting or investing decisions.
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Information analysis

Subject                                  : Reminding investors to analyze 
Information
Security Symbol
  - PACE DEVELOPMENT CORPORATION PUBLIC COMPANY LIMITED (PACE)
Description                              :
SET advises the investors to carefully study PACE's event of defaults 
information before making investment decision

As Pace Development Corporation Public Company Limited (PACE) disclosed 
information about the event of defaults, details as shown on PACE's News on
October 21, 2019, which is summarized as follows.
1.    The company and its subsidiaries have the event of defaults for the total 
amount of Baht 2,645 million, which the payment is due on October 17, 2019,
equaling to 12.55% of total assets as of June 30, 2019, and the Company has to
pay the debts within November 4, 2019.
2.    Such event of defaults caused event of default in other obligations (Cross 
Default) which the creditors have not sent the notice of payment, in the total
amount of Baht 9,227 million, equaling to 43.76% of total assets.
3.    The Company will accelerate consulting and negotiating with the creditors to 
prepare the financial restructuring and debt management plan and will report the
 progress within November, 2019.
4.    Currently, the Company has suspended the property construction. However, such
 events will not affect the operation of food and beverages business.

Therefore, SET advises the investors to carefully study the mentioned 
information before making investment decision.
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