ISM Announces Sale Treasury Sales

In a meeting held today and further to the ISM Communications Corp.’s (PSE: ISM) disclosures of 22 June 2018 and 15 August 2018, the Executive Committee approved the purchase by Accion Common Development Fund SPC (Accion) of all of the company’s 841,945,107 treasury shares at a purchase price of PhP1.45 per share or a total purchase price of PhP1,222,820,405.15 (25% of which is payable upon purchase and the 75% balance no later than the end of the year).

The Executive Committee mandated the company’s management to execute the sale and purchase documents no later than the end of September 2018. Once completed, Accion will own 30.07% of the resulting outstanding capital of the Company.

Accion is a special purpose company owned, controlled and managed by Accion Management Pte Ltd, a registered fund management company based in Singapore.