BGG12102: Notice of payment of principal and interest of bonds with other assets
Pursuant to Document No. 1607/2024/CV-BGG dated 16/07/2024 of Bondholders' Resolution dated 11/07/2024 on payment of principal and interest of bonds with other assets and payment in cash according to the schedule of Big Gain Investment Company Limited (bond code: BGG12102, record date: 23/07/2024), Viet Nam Securities Depository and Clearing Corporation (VSDC) - Hochiminh Branch would like to announce as follows:
1. Payment method:
(a) Payment method 1: Payment by other assets, specifically the Issuer's receivables arising from the Debt Acknowledgement and Confirmation of Payment Obligations between the Issuer and KSFinance Investment Joint Stock Company and related amendments and supplements from time to time (if any) ("Asset 1"); and
(b) Payment method 2: Payment in cash according to the following payment schedule:
(i) Principal payment schedule:
No. | Time of payment |
Principal (calculated on the total unpaid principal face value of the Bonds corresponding to each Bondholder) |
1 | T | 5% |
2 | Full 12 months from the Maturity Date 5% |
5% |
3 | Full 24 months from the Maturity Date 5% |
90% |
Interest on the Maturity Bonds and all interest on the corresponding outstanding principal face value at the principal payment times with an interest rate of 10.8%/year (the interest rate applied at the Maturity) (excluding penalty interest and/or penalty fee for late payment of interest and principal (if any)) shall be paid on the 24th day from the Maturity Date.
(iii) For clarification:
- T: no later than the 10th (ten) Business Day from the date the Issuer receives the Bondholder's written confirmation of agreement to the valid Payment Method;
- Maturity Date: is the maturity date according to the original issue plan, i.e. 30/07/2024; and
- Maturity Period: from 30/07/2023 inclusive to 30/07/2024 exclusive.
2. Order of priority
In case the Bondholder agrees to the Payment Method:
(a) Payment Method 1 will be applied in priority to pay the principal/interest of the Bond.
(b) In the event that the total principal and interest obligations of the bonds that the Issuer must pay to bondholders who agree to the Payment Method (“Consenting Bondholders”) are greater than the total value of Asset 1, then:
(i) Each Consenting Bondholder shall be paid a portion of Asset 1 divided according to the ratio of the total face value of the Bonds owned by that Consenting Bondholder to the total face value of the Bonds owned by all Consenting Bondholders at the time the Issuer makes the payment; and
(ii) The principal and interest obligations of the Bondholders who have not been paid under payment method 1 shall be paid under payment method 2.
In case the Bondholders do not agree with the above Payment Method, the Issuer shall negotiate with the Bondholders on the payment of principal and interest of the Bonds under payment method 2.
3. Time of payment:
Time of payment for Bondholders who agree to the plan stated in section 1: 30/07/2024;
Payment time for Bondholders who do not agree with the plan stated in Section 1: The Issuer will continue to negotiate with Bondholders according to the provisions of Article 2 of Decree No. 08/2023/NĐ-CP dated 05/03/2023 (Specifically, a notice confirming the payment schedule will be sent to each Bondholder as soon as possible).
CNVSDC inform this notice to Stock exchange and DMs.
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MBB: Transfer of Ownership for 10,599,512 shares
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42,377|5,963
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6
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3,006
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786
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37
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8,375,024