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Gomer F. Tan
February 6, 2012
AAA - News of a backdoor listing of company engaged in the Tollway business. 52 week high is P6.20 per share.
DISCLOSURES
URC- Please be advised that Universal Robina Corporation has agreed to sell 57,663,430 common shares of JG Summit Holdings, Inc.
JGS- On February 2, 2012, affiliates of the JG Summit Holdings, Inc. (the “Company”) Group sold 215 million shares via an accelerated overnight equity placement at a price of P25.00 per share. The initial offer size of the transaction was US$75 million and was upsized to US$125 million due to strong global investor demand amounting to nearly 3x the base deal size. The transaction was done in order to widen the shareholder base of the Company, and as a response to strong demand for the Company's stock. UBS AG acted as Sole Bookrunner for the transaction.
TEL - Special Meeting of Stockholders which will be held on March 22, 2012 at at 4:00 p.m. at the Grand Ballroom, Dusit Thani Manila, Ayala Center, Makati City. As previously announced, "The Board of Directors has fixed January 24, 2012 as the record date for the determination of stockholders entitled to notice of, and to vote at said Special Meeting."
ALI - Ayala Land, Inc. will conduct an Analyst' briefing on the company's unaudited financial results for the fiscal year 2011 on February 15, 2012 at 3:00 pm Southrooms A and B, Tower One & Exchange Plaza, Ayala Triangle Ayala Avenue, Makati.
SM - SM Investments Corporation successfully launched and priced a 5-year US$250 million convertible bond (“CB”).
The issue was offered in a Reg-S format and was structured as an accelerated bookbuild. The CB offering attracted high quality investors from across Asia and Europe. The bonds feature a coupon of 1.625% and yield to maturity of 2.875% per annum with a conversion premium of 20%.
This landmark transaction provides SMIC with attractive, low cost financing, while achieving a conversion price at a premium to the current share price. The transaction is the first CB issuance by a Philippine company in 2012 and SM’s second in its corporate history, after its maiden issuance in 2007. SMIC will use the proceeds of the offering for general corporate purposes and the refinancing of existing debt. Joint bookrunners of the issue are Citigroup and J.P. Morgan.
APX - In the Special Meeting of the Board of Directors of Apex Mining Co., Inc. (“Apex”), the Board is pleased to announce the approval of the management business plan to significantly expand the production capacity of the Maco Mining Operation through the reopening of historic mining areas and expansion of the current producing areas. In parallel, the current ore processing facility will be migrated to a new expanded facility with a threefold increase
in milling capacity achieved during 2013. The Company has appointed a Project Team which has already completed preliminary design and cost engineering, leading to the commencement of early construction within the coming months. The final design work and project costing will be released to the market following subsequent board approval.
The President of Apex, Mr. Peregrino Resabal, commented that in addition to the above the company is scheduled to release a new mineral resource statement within the next few weeks. He added, “I am extremely pleased with these developments and look forward to a growing future of the company for the benefit of all stakeholders.”
PNB - Special Stockholders' Meeting, which will be held on March 6, 2012 at 10:00 a.m. at the Grand Ballroom, Upper Lobby, Century Park Hotel, 599 Pablo Ocampo Sr. Street, Malate, Manila.
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