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GT Capital Holdings, Inc. approves the reallocation of use of proceeds from Initial Public Offering (IPO)

At the meeting of the Board of Directors of GT Capital Holdings, Inc. (the Company) earlier today the Board approved the following resolutions:
1. The amount of PhP2.8 billion earmarked to fully settle GT Capital Holdings, Inc's long term debt, as stated in the Use of Proceeds section of the GT Capital prospectus, shall be reallocated in order to partially settle a PhP4.0 billion term loan with Metrobank, the proceeds of which were used for equity infusions by the Company into Global Business Power Corporation.

2. The amount shall be paid out on June 30, 2012.
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"GT Capital Holdings, Inc. approves the reallocation of use of proceeds from Initial Public Offering (IPO)" was written by Mary under the Business category. It has been read 1750 times and generated 1 comments. The article was created on and updated on 30 May 2012.
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