C00428-2022 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 875,422,529 |
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Subject of the Disclosure |
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Sale of Treasury Shares |
Background/Description of the Disclosure |
As previously disclosed, on January 20, 2022, the Board approved the sale of its treasury shares and PDRs held by ABS-CBN, to interested qualified institutional buyers. Accordingly, a block sale of 21,322,561 ABS-CBN common shares and 11,507,379 PDRs was completed today, January 21, 2022 at a price of P15.23 for each common share and for each PDR. The price represents a 12% premium over the PSE closing price of the ABS-CBN common shares on January 20, 2022; and a 19% premium over their 30-day volume weighted average price. The purchaser for the common shares and PDRs was ABS-CBN’s principal shareholder, Lopez, Inc. at a total purchase price of Four Hundred Ninety-Nine Million, Nine Hundred Ninety-Nine Thousand, Nine Hundred Eighty-Six and 20/100 Pesos (P499,999,986.20). The proceeds will be used for digital initiatives, content production and other general corporate purposes. |
Other Relevant Information |
Amended to include details of purchaser and use of proceeds. |
Name | Raymund Martin Miranda |
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Designation | Chief Strategy Officer & Chief Risk Management Officer |