C06267-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 38,225,838,177 |
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Subject of the Disclosure |
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Sale of power barge assets |
Background/Description of the Disclosure |
Further to our disclosure on 23 August 2021 under Report No. C05789-2021, please be informed that the Company signed today the Asset Purchase Agreement for the sale of Power Barges (PB) 102 and 103 with SPC Island Power Corporation. |
Other Relevant Information |
PB 102 and PB 103 are both 4 x 8 MW oil-fired diesel barges and are currently non-operating. PB 102 is located in Barangay Obrero, Iloilo City while PB 103 is currently in Barangay Poblacion, Lapu-lapu City. Closing of the sale is expected to be completed in the fourth quarter of 2021, subject to satisfaction of agreed conditions precedent, which include the applicable regulatory approvals. |
Name | Alan Ascalon |
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Designation | Vice President/ Asst. Corporate Secretary |