06 Aug 2020 18:19:00
Money Guarantee according to the resolution of the Board of Directors Meeting No. 2/2020 on Thursday 9 April 2020.
Translation- No. IR018/2020 August 6, 2020 Subject: Money Guarantee according to the resolution of the Board of Directors Meeting No. 2/2020 on Thursday 9 April 2020. To: President The Stock Exchange of Thailand According to the announcement of the Board of Directors' Meeting of SE-EDUCATION Public Company Limited No. 2/2020 on Thursday 9 April 2020, the approval of financial assistance from financial institutions was approved. The loan is intended to be used to repay short-term loans and to strengthen the Company. Total credit line of 100 million baht can be summarized as follows: Long-term loan Parties : Loaner : Kasikorn Bank Public Company Limited Borrower : SE-EDUCATION Public Company Limited Limit : Not more than 100,000,000.00 baht Objective : Repaying short-term loans and enhancing the company's liquidity. Interest rate : THBFIX plus interest rate of 2.56 percent (two point five six). Term of credit limit : Within 6 (six) months from the contract date Important loan conditions : - The borrower agrees to maintain the Debt Service Coverage Ratio (DSCR) by calculating EBITDA: Earnings Before Interest, Tax, Depreciation and Amortization divided by the portion of long-term liabilities (CPLTD: Current Portion of Long Term Debt) includes interest payments for both long-term and short-term loans at a ratio of not less than 1.0 (one point zero) times. - The borrower agrees to maintain the Gearing Ratio by calculating from all liabilities in the financial statements with interest or discounted obligations and divided by the shareholders' equity not more than 0.5 (zero point five) times, but the Gearing Ratio must not be less than 0 (zero). Repayments : The borrower agrees to pay the principal installment of the loan received from the bank in 48 (forty-eight) installments by repaying of 1 (one) month per installment. The borrower will start repaying the first payment on the last business day of the 13th month (Thirteenth) from the first loan withdrawal month. The next installments are payable on the last business day of the month due within business hours at the bank's office. And the borrower will pay the principal plus interest in 60 (sixty) months from the month of the loan withdrawal. The payment terms are as follows: - From the first month to the 12th (twelfth) month, the borrower agrees to pay 670,000.00 baht (six hundred thousand baht) per one instalment. - From the 13th (thirteenth) month to the 40th (fortieth) month, the borrower agrees to pay 2,080,000.00 baht (two million baht) per one instalment. - From the 41th (forty-first) month to the 47th (forty-seventh) month, the borrower agrees to pay 4,200,000.00 (four million two hundred thousand baht) per one installment. - From the 48th (forty-eighth) month (the last instalment), the borrower will pay the remaining amount and interest. Collateral : Land Deed no. 17749, Srisa Jorakhaeyai Sub district, Bang Sao Thong District, Samut Prakan Province, owned by SE-Education Company Limited, the second mortgage. Please be informed accordingly. Yours sincerely, (Mr. Rungkan Paisitpanichtrakul) Deputy Managing Director and Company Secretary INVESTOR RELATION http://www.se-ed.com/ir IR@SE-ED.COM 02-826-8000 # 8 ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.