News Detail

Date/Time
29 Apr 2020 12:38:00
Headline
Notification of Force Majeure under Lease Agreement
Symbol
LUXF
Source
LUXF
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TT/IM 113/2020


                                29 April 2020



Re     Notification of Force Majeure under Lease Agreement

To    The President
    The Stock Exchange of Thailand

    According to TMB Asset Management Company, Limited (the "Management Company") 
on behalf of the Management Company of Luxury Real Estate Investment Fund
("LUXF") has been notified by Sustainable Luxury Hospitality (Thailand) Limited
("SLH") as the lessee of the property that invested by LUXF which is the Six
Senses Yao Noi located on Yao Noi Island, Amphoe Koh Yao, Phang Nga Province
(the "Hotel"), to exercise its rights under the lease agreement for not obliged
to pay the Fixed Rent for the duration of the Force Majeure event apply for the
rent duration from April 2020 onwards until such Force Majeure event has ended.
The Force Majeure event which is the pandemic of Corona Virus 2019 (Covit 19)
affected the government of Thailand continuously enforces the policy to decrease
the pandemic of Corona Virus 2019 (Covit 19) since March 2020 until now. The
crisis affected a significant decrease in the number of tourists visiting
Thailand as a result of the hotel business is one of the businesses affected by
such a crisis.

    The Management Company by the resolution of the investment committee on April 
28, 2020, approved SLH to exercise its rights under the lease agreement. In
addition, the management company will coordinate with SLH for seeking any
necessary and appropriate measures including the decrease of any fixed cost used
for maintaining the asset of property fund to be in good condition for seeking
benefit afterward, for minimizing effect from this crisis to the unitholders of
LUXF.




                            Yours faithfully,


                            

      Phiphat Phisanuwongrak

         Authorized Signatory
______________________________________________________________________
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of the information and related documents of listed company or issuer to the
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