This is with reference to Company Report No. CR06315-2023 dated September 8, 2023, and Company Announcement No. C07030-2023 dated September 21, 2023 with regard to Metro Pacific Investments Corporation’s (“MPI” or the “Company”) disclosure of a Tender Offer Report (“TO Report”) filed by Metro Pacific Holdings, Inc., GT Capital Holdings, Inc., Mit-Pacific Infrastructure Holdings Corporation and MIG Holdings Incorporated (collectively referred to as the “Bidders”) for the conduct of a tender offer from August 9, 2023 to September 19, 2023 and cross date on September 26, 2023. As stated therein, “the Bidders intend to voluntarily delist MPIC from the Main Board of the PSE after completion of the Tender Offer.”
As announced in PSE Memorandum TPA-No. 2023-0039 dated September 25, 2023, the Exchange was in receipt of a block sale application for MPI shares which will be executed tomorrow, September 26, 2023. It was further stated in the same memorandum that “the Exchange will implement a trading suspension on MPI shares after the execution due to non-compliance with the rule on minimum public ownership requirement.”
Pursuant to the Amended Rule on Minimum Public Ownership of the Exchange (the “MPO Rule”), listed companies which become non-compliant with the minimum public ownership “shall be suspended from trading for a period of not more than six (6) months and shall be automatically delisted if it remains non-compliant with the MPO after the lapse of the suspension period.”
Given the foregoing and pursuant to the Amended MPO Rule, the Exchange will implement a trading suspension on the shares of MPI after completion of the cross of the tendered shares during run-off period tomorrow, September 26, 2023.
The Exchange will apprise the Trading Participants and the investing public of further developments on the matter. |
NOTICE