On March 9, 2020, the Board of Directors of RRHI approved the creation and implementation of a share buyback program involving up to Philippine Pesos: Two Billion (P2,000,000,000.00) worth of the Company’s common shares. Thereafter, Board of Directors of RRHI agreed to extend the share buyback program as follows:
a. On February 26, 2021, the share buyback program was extended for the additional amount of Philippine Pesos: Two Billion (P2,000,000,000.00) b. On February 11, 2022, the share buyback program was extended for the additional amount of Philippine Pesos: One Billion (P1,000,000,000.00). c. On April 27, 2022, the share buyback program was extended for the additional amount of Philippine Pesos: One Billion (P1,000,000,000.00). d. On November 16, 2023, the share buyback program was extended for the additional amount of Philippine Pesos: One Billion (P1,000,000,000.00). e. On July 25, 2024, the share buyback program was extended for the additional amount of Philippine Pesos: One Billion (P1,000,000,000.00). f. On May 30, 2025, through the share buyback program and via a special block sale duly approved by the Philippine Stock Exchange (“PSE”) and following the fulfillment of closing conditions, RRHI re-acquired 315,309,310 common shares, equivalent to 22.2% of RRHI’s outstanding shares, belonging to GCH Investments Pte. Ltd. (“GCH”), a subsidiary of DFI Retail Group (“DFI”) at a transaction price of Php50.00 per share for a total purchase price of P15,765,465,500.00.
Aside from the 315,309,310 common shares acquired from GCH, RRHI through the share buyback program has bought back 158,387,615 common shares costing P7,833,278,986.00 from March 9, 2020 to date.
The Board of Directors likewise approved to authorize Mr. Stanley C. Co, President and CEO, and Ms. Mylene A. Kasiban, Chief Financial Officer of the Company to supervise the implementation of the share buyback program.
Further, the extension of the share buyback program shall continue to have the following terms and conditions originally set forth on March 9, 2020:
a. The objectives of the share buyback program are to enhance shareholder value and to manifest confidence in the Company’s value and prospects through the repurchase of the common shares of the Company and through the return of a portion of the Company’s capital to its shareholders. b. The share buyback program will not involve any active and widespread solicitation from the stockholders and will be implemented in the open market through the trading facilities of the Philippine Stock Exchange. c. The share buyback program will not affect any of the Company’s prospective and existing projects and investments. d. Any significant development in the share buyback program will be duly disclosed to the Securities and Exchange Commission and the Philippine Stock Exchange. |