Makati—(PHStocks)—During a special meeting held today, the Board of Directors of Liberty Telecoms Holdings Inc. (PSE: LIB) approved and authorized the voluntary delisting of the company’s shares from The Philippine Stock Exchange Inc. (PSE). The voluntary delisting will be implemented and undertaken in accordance with, and pursuant to, the Delisting Rules of the PSE.
The Board of Directors evaluated the options available to the company in connection with the tender offer being conducted by its majority stockholder, Vega Telecom Inc. (VTI), to all the minority shareholders of the company and considering the current public float of the company. After due evaluation and study of the options available to the company, the Board of Directors approved and authorized the voluntary delisting of the company’s shares from the PSE.
In compliance with the Delisting Rules of the PSE, a tender offer to all stockholders of record of the company is being conducted by VTI, the terms and conditions of which were disclosed and provided in the Tender Offer Report (SEC Form 19-1) of VTI, filed with the Securities and Exchange Commission and submitted to the PSE on 19 August 2016.
The company will further disclose additional information and data on the aforesaid voluntary delisting process and mechanics, including the terms and conditions of the tender offer being conducted, in due course and once such information and data become available.