This is with reference to First Gen Corporation’s (“FGEN” or the “Company”) disclosure under Company Announcement No. C03906-2025 posted on June 2, 2025. In the said disclosure, the Company reported the execution of a term sheet with Prime Infrastructure Capital, Inc. (“Prime Infra”) for the disposition of FGEN’s shareholdings in its subsidiaries which will result in Prime Infra indirectly owning 60% of the following gas assets which are all located in Batangas:
1. 1000MW Santa Rita Power Plant;
2. 500MW San Lorenzo power plant;
3. 450MW San Gabriel power plant;
4. 97MW Avion power plant;
5. the proposed 1200MW Santa Maria power plant; and
6. Interim Offshore LNG Terminal.
The transaction value is Fifty Billion Pesos (PHP50,000,000,000.00) upon closing of the transaction, subject to adjustments and modifications as may be agreed by the parties.
In view of the materiality of the foregoing, the Exchange will implement a one (1) hour trading halt on the shares of FGEN from 9:30 a.m. to 10:30 a.m. today, June 2, 2025.
For your information and guidance. |
NOTICE