<\/p>\n
Robinsons Retail Holdings, Inc. (RRHI) has filed a petition with the Philippine Stock Exchange (PSE) for a voluntary delisting of its common shares, targeting an efficient date of July 28.<\/p>\n
As a part of the delisting process, the corporate is launching an P11.25-billion tender offer through JE Holdings, Inc. to amass greater than 232.84 million common shares, excluding those beneficially held by the proponents, at P48.30 apiece.<\/p>\n
As of the filing date of the petition, the proponents collectively held 832.78 million common shares, representing about 78.15% of the corporate\u2019s total issued and outstanding common shares, the corporate said in a disclosure on Friday.<\/p>\n
The tender offer price represents a 23.06% premium over the past closing price of the common shares on March 26, and a 32.23% premium over the stock\u2019s one-year volume-weighted average price (VWAP).<\/p>\n
The tender offer period will run from May 25 to July 6.<\/p>\n
RRHI said shareholders representing a minimum of two-thirds of its total outstanding and listed shares approved the voluntary delisting throughout the annual stockholders\u2019 meeting held on May 12.<\/p>\n
\u201cThe variety of votes forged against the Voluntary Delisting didn’t exceed ten percent (10%) of the entire outstanding and listed shares of the Company,\u201d it added. \u2014 Alexandria Grace C. Magno<\/strong><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" JGSUMMIT.COM.PH Robinsons Retail Holdings, Inc. (RRHI) has filed a petition with the Philippine Stock Exchange (PSE) for a voluntary delisting of its common shares, targeting an efficient date of July 28. As a part of the delisting process, the corporate is launching an P11.25-billion tender offer through JE Holdings, Inc. to amass greater than 232.84 […]<\/p>\n","protected":false},"author":1,"featured_media":335316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[19281,8452,18151,104,17547,7815,6769],"class_list":["post-335315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-delisting","tag-july","tag-pse","tag-retail","tag-robinsons","tag-targets","tag-voluntary"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/335315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=335315"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/335315\/revisions"}],"predecessor-version":[{"id":335318,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/335315\/revisions\/335318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/335316"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=335315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=335315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=335315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}