November 30, 2017 Acknowledgement for the Current Situation on Group Lease PCL and Our View on the Future Direction (continuous disclosure)

November 30, 2017

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director,CEO
Contact: Shigeyoshi Asano, Director
Telephone: +65-6535-5152

Acknowledgement for the Current Situation on Group Lease PCL and
Our View on the Future Direction (continuous disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acknowledgement for the Current Situation on Group Lease PCL and Our View on the Future Direction (continuous disclosure)”. Please refer to the attachment.

November 30, 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

Acknowledgement for the Current Situation on Group Lease PCL and
Our View on the Future Direction (continuous disclosure)

J Trust Co., Ltd. (hereinafter, “the Company”) announced its acknowledgement and view regarding Group Lease PCL (hereinafter “GL”) on November 13, 2017 by stating “The Company is committed to making utmost effort with a view to reaching a conclusion before the end of November, based on engaging in close consultation with the relevant authorities as well as complying with applicable law and by-laws, and the rules of the Stock Exchange of Thailand and the Kingdom of Thailand.”
The Company would like to make further announcement on the subsequent events and future directions as follows;

The Company has faithfully made utmost effort to reaching a concrete decision by today, however, the Company has not yet entered any agreement with GL. Consequently, the Company has proposed GL to amicably curtail the relationship. In this context, the Company has proposed GL to repay and backstop all the investment in GL. Furthermore, today J Trust Asia PTE. LTD has sent a letter to notify to cancel the agreements on the convertible debenture amounting to USD 180 million and to demand the immediate repayment, while the Company has proposed to take over the business in Indonesia.

The Company is committed to making utmost efforts to maximize its value and the interests of stakeholders as well as to avoid any impact on business performance by taking advantage of past experiences and expertise.

We will make further disclosure as soon as any further development occurs.

-End-

 PDF(196KB)

TOP MESSAGE

We have been going...

ABOUT J TRUST ASIA

J TRUST ASIA's info..