ISM Treasury Sales to Accion

ISM Communications Corp. (PSE: ISM) and Accion Common Development Fund SPC have proceeded to execute the definitive agreement for the purchase by Accion of all of ISM’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).

Once completed, the shares acquired by Accion will constitute 30.07% of the resulting outstanding capital of ISM.