SMC Announces Additional Series “1” Preferred Shares for Trading
The Philippine Stock Exchange (PSE) approved on November 24, 2010, an application by San Miguel Corp. (PSE: SMC) to list Series “1” 873,173,353 Preferred Shares with a par value of PhP5.00 per share, to cover the Exchange Offer of the company’s Common “A” and Common “B” Shares.
The Preferred Shares were issued on October 5, 2009 at an Issue Price of Php75.00 per share and at an exchange ratio of one (1) Preferred Share for every one (1) Class “A” or Class “B” common share. The total transaction value is PhP65,488,001,475.00.
The said 873,173,353 Preferred Shares were listed in the Exchange on December 8, 2010. However, only the Preferred Shares that were duly lodged with the Philippine Depository & Trust Corp. (PDTC) were eligible for trading.
In this connection, SMC has advised that an additional 193,959 Preferred Shares have been lodged with the PDTC. In view thereof, the said 193,959 Preferred Shares are eligible for trading starting on Wednesday, January 26, 2011. This brings the number of Preferred Shares lodged with the PDTC to a total of 56,285,275 common shares.
The said 56,285,275 Preferred Shares exclude the Preferred Shares that are not available for lodgment with the PDTC. Such remaining Preferred Shares will only be eligible for trading upon the completion of the lodgment process and the company’s notification to the Exchange.
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