March 21,2017 (Release update) Completion of J Trust Subsidiary’s Acquisition of Subscription Rights to Shares Issued by Group Lease PCL

March 21, 2017

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director,CEO
Contact: Shigeyoshi Asano, Director
Telephone: +65-6225-6938

(Release update) Completion of J Trust Subsidiary’s Acquisition of Subscription Rights to Shares Issued by Group Lease PCL

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “(Release update) Completion of J Trust Subsidiary’s Acquisition of Subscription Rights to Shares Issued by Group Lease PCL”. Please refer to the attachment.

March 21, 2017

Company Name: J Trust Co., Ltd.
(Listed on Second Section of the Tokyo Stock Exchange, code 8508)
Representative: Nobuyoshi Fujisawa, President & CEO
Contact: Taiji Hitachi, Director and Executive Officer
Telephone: +81(3) 4330-9100

(Release update) Completion of J Trust Subsidiary’s Acquisition of Subscription Rights to Shares Issued by Group Lease PCL

As announced in the news release “Subscription of Convertible Bond issued by Group Lease PCL” on October 31, 2016, JTRUST ASIA PTE. LTD. (hereinafter “JTA”), a subsidiary of J Trust Co., Ltd., proposed to subscribe for a convertible bond of Group Lease PCL (the Kingdom of Thailand; Chairman & CEO: Mitsuji Konoshita; listed on the Stock Exchange of Thailand; ticker code: GL; hereinafter “GL”) and signed the bond subscription agreement on December 1, 2016.
We hereby announce that JTA’s subscription was completed on March 20, 2017, following the approval of the Stock Exchange of Thailand dated March 10, 2017.

1. Overview of convertible bond

(1) Issue price: USD 50,000,000
(About 5.6 billion yen, 1USD = 112.56 yen)
(2) Issue value: USD 50,000,000
(About 5.6 billion yen, 1USD = 112.56 yen)
(3) Interest rate: 5.0%
(4) Maturity: 3 years
(5) Conversion price: 70 baht per share
(226.10 yen, 1 baht = 3.23 yen)
(6) Number of shares after full conversion: 24,753,428 shares
(7) Shareholding ratio after full conversion: 14.04%

<Review of exchange rates>

  • The calculation is based on the exchange rates updated at the end of February 2017.
  • The rates, value and price in the previous release on October 31, 2016 are as shown below. 1USD = 104.53 yen, 1 baht = 2.98 yen, Issue price: 5.2 billion yen, Issue value: 5.2 billion yen, Conversion price: 208.60 yen per share

2. Future outlook

GL now operates Digital Finance business in seven countries mainly in the ASEAN region, including Thailand, Cambodia and Laos. Its operation has been expanding business steadily. Going forward, GL will enter markets in Africa and East Europe. GL’s full-year profits as of the end of December 2016 marked record 1,060 million baht, which underlines GL’s consistent business performance. With GL as its strategic partner, J Trust Group aims to pursue business development mutually by capitalizing on the growth opportunities in Southeast Asia’s emerging economies.
The expected impacts of the subscription on our operating results include unrealized gain (loss) on the convertible bond and its conversion into shares under IFRS that JTA adopts locally. Should any matter required for disclosure arise regarding impacts on our performance in the future, we will announce it promptly.

-End-

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