C05007-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 1,800,778,573 | |
Preferred Shares | 1,000,000,000 |
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Subject of the Disclosure |
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Acquisition of Shares in Agrinurture, Inc. |
Background/Description of the Disclosure |
Greenergy Holdings Incorporated (the “Company”) wishes to inform the investing public that it acquired today six million one hundred ninety-three thousand six hundred (6,193,600) secondary common shares of Agrinurture, Inc. (“ANI”) through the open market for an aggregate consideration of Php38,068,644.00 exclusive of taxes, fees and commission or average price of Php6.1464 per share. Upon issuance of the shares, the Company shall hold a total of 111,296,246 shares or equivalent to 10.86% of the total issued and outstanding shares of ANI. |
Date of Approval by Board of Directors |
Apr 25, 2014 |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
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The transaction will strengthen the position of the Company in the other “green” projects. |
Date | Jul 22, 2021 |
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Manner |
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Payment in cash of Php38,068,644.00 exclusive of taxes, fees and commission |
Description of the company to be acquired or sold |
Incorporated on February 4, 1997, AgriNurture, Inc. (ANI) started its business operations in the same year as an importer, trader and fabricator of post-harvest agricultural machineries intended to improve the productivity as well as increase the income of Filipino farmers. Formerly known as Mabuhay 2000 Enterprises, Inc., ANI was the first to bring into the Philippine market the Mega-Sun brand of grain dryers and thereafter established itself as one of the more reliable local supplier and manufacturer of conveyor systems and other rice mill equipment. |
Number of shares to be acquired or disposed | 6,193,600 |
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Percentage to the total outstanding shares of the company subject of the transaction | 0.6 |
Price per share | 6.1464 (average price per share) |
Nature and amount of consideration given or received |
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Payment in cash of Php38,068,644.00 exclusive of taxes, fees and commission |
Principle followed in determining the amount of consideration |
Price of the share in open market exclusive of taxes, fees and commission. |
Terms of payment |
Price of the share in open market exclusive of taxes, fees and commission. |
Conditions precedent to closing of the transaction, if any |
None. |
Any other salient terms |
None. |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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Open Market | None |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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The transaction will strengthen the position of the Company in the other “green” projects. |
Other Relevant Information |
Please see attached SEC Form 17-C. |
Name | Paula Katrina Nora |
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Designation | Corporate Secretary |