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Bloomberry Resorts Corporation executes the Placing, Greenshoe and Subscription Agreements with Prime Metroline Holdings, Inc. CLSA Limited

Further to the placing and subscription transaction subject of the disclosures made by Bloomberry Resorts Corporation (BLOOM) on April 20, 2012 and April 25, 2012, BLOOM the public of the following events:
1.  The Placing Agreement and Greenshoe Agreement for the placing transaction, as well as the Subscription Agreement for the subscription transaction have been executed by BLOOM, Prime Metroline Holdings, Inc. and the Joint Lead Managers for the placing transaction CLSA Limited and UBS AG on May 1, 2012.

2.  The parties have just concluded the pricing for the Offer Shares. Offer Shares consist of 1,179,963,700 shares of BLOOM and up to 117,996,300 shares for the over-allotment option if it is exercised, and the offer price has been set at PhP7.50 per Offer Shares. The Subscription Shares consist of the same number of shares as the Offer Shares and will be subscribed for at the offer price for the Offer Shares. The total proceeds from the offer before the exercise of the over-allotment option are PhP8,849,727,750 or approximately US$210 million. The total subscription proceeds for BLOOM shall be equal to the proceeds from the Offer less the amount for fees and expenses relating to the Offer and the Subscription that BLOOM has agreed to be liable for. We will make a separate announcement when the over-allotment option is exercised.

3.  The Offer Shares are intended to be crossed through the Philippine Stock Exchange (PSE) on May 2, 2012 upon obtaining approval of the application for a block sale from PSE. Settlement for the Offer Shares is anticipated to occur May 7, 2012.
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"Bloomberry Resorts Corporation executes the Placing, Greenshoe and Subscription Agreements with Prime Metroline Holdings, Inc. CLSA Limited" was written by Mary under the Business category. It has been read 2366 times and generated 0 comments. The article was created on and updated on 02 May 2012.
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