Pursuant to the foregoing approval and authorization, the Board further approved the issuance of new common shares, the number and issue price of which will be finalized in due course and the listing of the same shares with the Philippine Stock Exchange (PSE).
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Phoenix Petroleum Philippines Board of Directors approves capital and equity fund raising
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The Phoenix Petroleum Philippines Board of Directors, in a special meeting today, 08 March 2012, approved and authorized the Corporation to conduct, do, perform and undertake capital and/or equity fund raising activities which are aimed at raising funds for future acquisition of the Company or fund the capital expenditure and operation requirement of the Corporation and at the same time broadening the Company’s investor base including but not limited to Follow-On Offering, Top-up Offerings or Placement and Subscription Transaction, preferred share issuance, bond, commercial paper, corporate notes, convertible or not into equity, and other debt instrument offerings, debt-to-equity conversion, or any combination of the foregoing.
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