On May 2, 2024, Premium Leisure Corp. (“PLC” or the “Company”) disclosed (through Company Report No. CR02931-2024) its receipt of a Tender Offer Report (“TO Report”) filed by Belle Corporation (“Bidder”) for the conduct of a tender offer of PLC shares from March 22, 2024 to April 24, 2024 in connection with the voluntary delisting of PLC. The tendered shares will be crossed through the Exchange’s facilities on May 7, 2024.
As announced in PSE Memorandum TPA - No. 2024-0023 dated May 6, 2024, the Exchange received a block sale application for PLC shares which will be executed tomorrow, May 7, 2024. The same memorandum stated that “the Exchange will implement a trading suspension on PLC 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.”
In view of the foregoing and as previously announced in PSE Memorandum TPA - No. 2024-0023 dated May 6, 2024, the Exchange will implement a trading suspension on the shares of PLC after the execution of the block sale tomorrow, May 7, 2024.
The Exchange will apprise the Trading Participants and the investing public of further developments on the matter. |
NOTICE