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Ayala CorporationAC
PSE Disclosure Form 17-7 - Statement of Changes in Beneficial
Ownership of Securities References: SRC Rule 23 and
Section 17.5 of the Revised Disclosure Rules
| Name of Reporting Person |
Mermac, Inc. |
| Relationship of Reporting Person to Issuer |
10% Owner |
| Description of the Disclosure |
Please be informed that Mermac Inc. (“Mermac”), the holding company of the Zobel family, sold today a portion of its holdings in Ayala Corporation (“Ayala”) equivalent to 7,063,490 common shares or 0.86% of the company’s total outstanding voting shares to a foreign institutional investor.
The shares were sold through a block sale that arose from a reverse inquiry from that single foreign institutional investor. After the transaction, Mermac will hold 47.75% of Ayala’s common shares and 55.56% of voting shares, remaining as Ayala’s largest shareholder. The transaction was executed by BPI Securities Corporation and UBS Securities Philippines Inc.
This transaction is in step with Ayala’s efforts to increase its public float in view of strong demand for the company’s shares.
Please refer to the attached SEC Form 23-B. |
Filed on behalf by:
| Name |
Solomon Hermosura |
| Designation |
General Counsel, Compliance Officer & Corporate Secretary |