This is with reference to Apollo Global Capital, Inc.’s (“APL” or the “Company”) disclosure under Company Announcement No. C06361-2021 dated September 21, 2021.
In the said disclosure, the Company stated, in part, that:
“On, 20 September 2021, the Board of Directors of APL has approved the execution of, and APL has entered into, an Instrument of Transfer of shares covering the acquisition by APL of 49% ownership of [Poet Blue Ocean Offshore Services Pte. Ltd. (‘PBO’)]. The transaction is consistent with the use of proceeds in the Company’s recently completed follow-on offering, where the Company committed to use the net proceeds from the offer primarily to buy a 49% stake in PBO, the owner of MB Siphon I vessel, which will be used for the offshore mining activities of the Company’s subsidiary, JDVC Resources Corporation.”
The Company further disclosed that the amount of consideration for the above-mentioned transaction is “(c)ash payment in the total amount of Php711,980,780”.
After a review of the disclosure submitted by the Company, the Exchange deems that the foregoing transaction is covered by the Rule on Disclosure for Substantial Acquisitions and Reverse Takeovers, under Section 5, Article VII of the Consolidated Listing and Disclosure Rules of the Exchange (the “Substantial Acquisition Rule”).
Pursuant to the Substantial Acquisition Rule, the trading of the Company’s shares will be suspended effective at 9:25 a.m. today, September 21, 2021, pending submission by the Company of the comprehensive disclosure requirement set forth in the said rule.
The Exchange will inform the Trading Participants and the investing public of further developments on the matter.
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NOTICE