C00099-2024 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 776,465,281 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
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Sale of EEI Shares to Shenton Resources PTE LTD |
Background/Description of the Disclosure |
It was previously disclosed that EEI shares representing 4.5% of outstanding common shares was sold as part of a portfolio realignment activity. |
Date of Approval by Board of Directors |
N/A |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
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Consistent with the portfolio realignment that HI is undergoing with a bias for recurring income and growth from construction to financial services, property and renewable energy. |
Date | Jan 5, 2024 |
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Manner |
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Cross - Block Sale through PSE |
Description of the company to be acquired or sold |
EEI Corporation (PSE:EEI) is one of the largest Philippine construction and general contracting firms having domestic and international operations spanning from Asia to the Kingdom of Saudi Arabia |
Number of shares to be acquired or disposed | 46,632,667 |
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Percentage to the total outstanding shares of the company subject of the transaction | 4.5 |
Price per share | 7.2348 |
Nature and amount of consideration given or received |
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Cash Settlement through crossing broker for PhP337,378,019.21 |
Principle followed in determining the amount of consideration |
Book Value based on latest AFS. |
Terms of payment |
Cash settlement through crossing broker |
Conditions precedent to closing of the transaction, if any |
None |
Any other salient terms |
None |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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Shenton Resources PTE LTD | None |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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HI is undergoing a portfolio realignment that has a bias for recurring income and growth. |
Other Relevant Information |
None |
Name | Ma. Esperanza Joven |
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Designation | First Vice President - Finance |