PACE Falls 12.5% after Reporting a Default Amounting ฿2.6bn with SCB!
PACE fell12.5% in the morning session after reporting a default amounting ฿2.6bn and cross default amounting 9.2bn with SCB.
PACE fell12.5% in the morning session after reporting a default amounting ฿2.6bn and cross default amounting 9.2bn with SCB.
21 ต.ค. 2562

The share price of PACE Development Corporation Public Company Limited (PACE) fell ฿0.01/share or 12.50% to ฿0.07/share with a trading value of 347,720 baht in the morning session on October 21, 2019, after a report of a default amounting 2,645,126,806.88 baht and a cross default amounting 9,227,026,619.42 baht with The Siam Commercial Bank Public Company Limited (SCB).
Related News: PACE Reports a Default Amounting ฿2.6bn and Cross Default Amounting 9.2bn with SCB!
 
In short, PACE has made an announcement on October 21, 2019, stating that the company has received the Notice of Default from The Siam Commercial Bank Public Company Limited (SCB) dated October 18, 2019 requested PACE and its subsidiaries to pay the outstanding debts at the amount of 2,645,126,806.88 baht.
The debt is due within 15 days after receiving the notice which is 2 November 2019 which falls onto a holiday; therefore, the due date will be shifted to the following business day which is 4 November 2019.
Moreover, such event of defaults with SCB as mentioned had caused event of default in other obligations that PACE’s and its subsidiaries have with SCB and/or other creditors in the amount of 9,227,026,619.42 baht.