C00009-2017 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 620,224,590 | |
Preferred B Series 1 Shares | 20,000,000 | |
Preferred B Series 2 Shares | 27,000,000 | |
Voting Preferred Shares | 200,000,000 |
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Subject of the Disclosure |
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AC Energy sells ownership stakes in Hydro Companies |
Background/Description of the Disclosure |
Please be informed that AC Energy Holdings, Inc. ("AC Energy"), a wholly owned subsidiary of Ayala Corporation, signed definitive documents to sell all of its ownership stake in each of QuadRiver Energy Corporation, Philnew Hydro Power Corporation and PhilnewRiver Corporation (the “Hydro Companies”) to Sta. Clara Group, Inc. Prior to this sale, AC Energy held ~70% of the outstanding capital stock of each of the Hydro Companies, with Sta. Clara Power Corporation being the owner of the remaining ~30%. The Hydro Companies are grantees of several hydropower service contracts from the Department of Energy. |
Other Relevant Information |
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Name | Paolo Borromeo |
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Designation | Head, Corporate Strategy and Development Group |