First Metro Investment Corporation (FMIC) today filed a disclosure with the Philippine Stock Exchange (PSE) on its intention to voluntarily delist its shares from the exchange following the decision of its Board of Directors to operate as non-listed entity.
In accorance with the Securities Regulation Code and the rules of the PSE, outstanding shares held by the public will be purchased via a tender offer.
FMIC's Board of Directors held a meeting. FMIC decided to purchase the said shares as treasury shares. The tender offer period will be from October 22, 2012 to November 29, 2012, subject to regulatory approvals.
The tender offer price will be at PhP89.00 per share.
With a 1.94% of outstanding shares held by the public, the Company foresees no effect in its business operations.
FMIC is a 98.06% percent-owned subsidiary of Metrobank. Upon successful completion of the tender offer, it will become 100% owned by Metrobank. - https://www.affordablecebu.com/
Please support us in writing articles like this by sharing this post
Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.
--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.
"First Metro Investment Corporation (FMIC) intends to delist its shares from Philippine Stock Exchange" was written by Mary under the Business category. It has been read 1668 times and generated 0 comments. The article was created on 15 October 2012 and updated on 15 October 2012.
|
