Unido Capital Holdings, Inc. agreed to make a tender offer to acquire 35.83% stake in Pacifica, Inc. (PSE:PA) for approximately PHP 100 million.
January 05, 2017
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Unido Capital Holdings, Inc. agreed to make a tender offer to acquire 35.83% stake in Pacifica, Inc. (PSE:PA) for approximately PHP 100 million on November 29, 2016. As of January 6, 2017, Unido Capital Holdings, Inc. commenced a tender offer to acquire 35.83% stake in Pacifica, Inc. (PSE:PA) for approximately PHP 100 million. Under the terms of the offer, Unido Capital Holdings, Inc. will acquire 14.33 billion common shares at PHP 0.007 per share. In a related transaction, Unido Capital Holdings, Inc. entered into a sale and purchase agreement to acquire 36.52% stake in Pacifica, Inc. (PSE:PA) from 9th Kingdom Investments Inc and Mikro-Tech Capital Inc for PHP 93.9 million on November 29, 2016. Upon completion of both the transactions, Unido Capital Holdings, Inc. will change the composition of the present Board of Directors and management of Pacifica, Inc.
The tender offer period will end on February 3, 2017. The offer is subject to Unido Capital Holdings, Inc. obtaining all organizational, contractual and regulatory approvals, consents and authorizations for the purchase of the shares. Bridget Jordas of First Resources Management and Securities Corporation acted as a tender offer and paying agent and John C. Par of Asian Appraisal Company, Inc acted as a fairness opinion provider to Unido Capital Holdings, Inc. Securities Transfer Services Inc. acted as a transfer agent to Pacifica Inc. The mandatory tender offer process has been completed.
Pacifica Holdings, Inc. is a Philippines-based company, which is engaged in the exploration, drilling and exploitation of oil, gas, and other volatile substances. The Company operates through the mineral exploration segment. The Company is also engaged in gas, oil, and power-related activities as its secondary purposes. The Company has no operations. The Company has not generated any revenues.