C00277-2019 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 1,821,977,615 |
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Subject of the Disclosure |
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Decision of the Philippine Competition Commission on the proposed acquisition by Chelsea Logistics Holdings Corp. of the shares of stock of Trans-Asia Shipping Lines, Inc. |
Background/Description of the Disclosure |
In its Decision dated 11 January 2019, the Philippine Competition Commission resolved that it will not take further action on the acquisition by Chelsea Logistics Holdings Corp. of 2,000,000 common shares of Trans-Asia Shipping Lines, Inc. on the basis of the conditions provided in the Undertaking submitted by the Company. |
Other Relevant Information |
Among the conditions in the Undertaking of the Company are its agreement to price monitoring of passenger and cargo rates, submission of semi-annual reports on all trips of passenger and cargo services in the critical routes, explanation of all extraordinary rates increases in the critical routes, and maintenance of service quality of passenger and cargo routes based on customer satisfaction index developed by third party monitor. |
Name | Ma. Henedina San Juan |
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Designation | Corporate Secretary |