This is with reference to C04410-2017 dated July 14, 2017 pertaining to the disclosure submitted by MRC Allied, Inc. (“MRC” or the “Corporation”) which stated in part that:
“Please be advised that during the regular board meeting held earlier today, the following matters were approved and confirmed unanimously by the members of the Board present during said meeting:
. . . .
4. At the board meeting held last June 30, 2017, the Board approved the implementation of the conduct of private placement, the terms of which are as follows:
a. Private placement of up to One Billion Pesos (Php 1,000,000,000.00) worth of common shares
b. Issue price the minimum of which is the 30-day average rate from transaction date
c. Down payment of Fifty percent (50%) of the issue price upon signing of the term sheet
d. The balance of Fifty percent (50%) payable within a period of thirty (30) days from down payment
e. Expenses incidental to the subscription of the shares under the term sheet shall be for the account of the Seller
5. At the regular board meeting held earlier today, the Board approved the following additional details for the conduct of the private placement:
a. Private placement of 1,904,761,905 common shares from the unissued and unsubscribed authorized capital stock
b. Issue price of Php 0.525 per share.”
After a careful review of the disclosure submitted by the Corporation, the Exchange deems that the above-mentioned transaction is covered by the Exchange’s Rule on Additional Listing of Securities.
Given the foregoing, the Exchange will implement a one (1) hour trading halt on MRC shares on Monday, July 17, 2017.
For your information and guidance. |
NOTICE