Melco Resorts and Entertainment (Philippines) Corp. (PSE: MRP) has announced that its Board of Directors approved the voluntary delisting of the common shares of the corporation from the main board of the Philippine Stock Exchange (PSE) subject to compliance with the PSE Rules on Delisting.
In relation to the delisting and in compliance with the PSE Rules on voluntary delisting, the corporation has been notified by MCO (Philippines) Investments Ltd, the majority shareholder of the corporation, that MCO Philippines intends to conduct a tender offer for up to 1,543,421,147 outstanding common shares held by the public, representing approximately 27.23% of the outstanding capital stock of the corporation, at a tender offer price of PhP7.25 per share.
The Tender Offer Report, which contain all the information about the tender offer including the terms and conditions thereof, will be filed with the Securities and Exchange Commission (SEC) and the PSE on or around September 17, 2018. It shall contain, among others, the terms and conditions of the tender offer. Copies of the Tender Offer Report and the relevant tender offer materials will be sent to each common shareholder separately.