Remarks | C03100-2017 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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COMMON | 10,296,688 |
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 |
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APPROVAL OF THE SALE OF ITS 65.92% STAKE IN LMG CHEMICALS CORP. |
Background/Description of the Disclosure |
ON 16 MAY 2017, THE COMPANY ENTERED INTO A SHARE PURCHASE AGREEMENT WITH NEWMANHOLDINGS, INC. FOR THE SALE OF ITS 127,583,458 COMMON SHARES IN LMG CHEMICALS CORP. (“LMG”) REPRESENTING 65.92% OF THE TOTAL ISSUED AND OUTSTANDING CAPITAL STOCK OF LMG. THE CLOSING AND COMPLETION OF THE SALE IS SUBJECT TO THE FULFILMENT OF CERTAIN CONDITIONS INCLUDING THE CONDUCT OF A TENDER OFFER IN ACCORDANCE WITH THE REQUIREMENTS OF THE SECURITIES REGULATION CODE. |
Date of Approval by Board of Directors |
N/A |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
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INCOME FROM DISPOSITION |
Date | TBA |
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Manner |
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DISPOSITION OF SHARES OF ANOTHER CORPORATION |
Description of the company to be acquired or sold |
SHARES OF STOCKS IN LMG CHEMICALS CORP. |
Number of shares to be acquired or disposed | 127,583,458 |
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Percentage to the total outstanding shares of the company subject of the transaction | 65.92 |
Price per share | IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Nature and amount of consideration given or received |
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IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Principle followed in determining the amount of consideration |
IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Terms of payment |
IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Conditions precedent to closing of the transaction, if any |
IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Any other salient terms |
IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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NEWMANHOLDINGS, INC. | NONE |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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THE INTENDED SALE WILL GENERATE INCOME |
Other Relevant Information |
IT WILL BE DISCLOSED IN THE TENDER OFFER REPORT |
Name | Randolph Aguirre |
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Designation | Group Controller |