JCK Hospitality Public Company Limited announced a private placement of senior unsecured convertible debentures No. 2 for gross proceeds of not more than THB 500 million on February 28, 2022. The transaction will include participation from returning investors Advance Opportunities Fund I, a fund managed by ZICO Asset Management Pte.

Ltd. and Advance Opportunities Fund, a fund managed by Advance Capital Partners Asset Management Private Limited. The debentures will be issued at par, will carry interest at a fixed rate of 1% per annum, payable quarterly, will mature after 3 years from the date of issuance, and are convertible into 266,745,361 common shares at a conversion price which will not be lower than 90% of the market price. The transaction will close in 3 tranches.

The first tranche and second tranche of THB 150 million each, will be divided into 30 sub-tranches of THB 5 million each, and third tranche of THB 200 million will be divided into 40 sub-tranches of THB 5 million each. The transaction has been approved in the company's board of directors' meeting No. 2/2022, and is subject to approval in the company's 2022 annual general meeting of shareholders to be held on April 4, 2022.