08/03/2022 | Press release | Distributed by Public on 08/02/2022 19:00
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding |
Common Shares | 8,124,350,005 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
Stock Rights Offering (SRO) of Solar Philippines Nueva Ecija Corporation (SPNEC) |
Background/Description of the Disclosure |
On July 28, 2022, the Philippine Stock Exchange (PSE) issued a Notice of Approval for the application of SPNEC to list 1,875,649,995 shares as part of its SRO to eligible stockholders, based on the Ex-Date of August 22, 2022 and Record Date of August 25, 2022. The PSE has approved the proposed SRO timetable. |
Date of Approval by Board of Directors | Feb 14, 2022 |
Entitlement Ratio | 1 share for every 1.28 shares held |
Offer Price | Php 1.50 to 1.76 per share |
Number of Shares to be Offered | 1,875,649,995 |
Ex-Rights Date | Aug 22, 2022 |
Record Date | Aug 25, 2022 |
Start of Offer Period | Aug 30, 2022 |
End of Offer Period | Sep 5, 2022 |
Use of Proceeds |
Project development (including securing land and off-take agreements) for the expansion of SPNEC's portfolio, and general corporate purposes. |
Other Relevant Information |
The disclosure has been amended to provide updates on the SRO's approvals, timetable, offer price range, and reflect other updates from the SRO prospectus. |
Name | Hazel Iris Lafuente |
Designation | Director, Treasurer, Assistant Corporate Secretary, Head of Community Development and Chief Information Officer |