<\/p>\n
LISTED retailer Robinsons Retail Holdings, Inc. (RRHI) has cleared a key hurdle in its planned voluntary delisting from the Philippine Stock Exchange (PSE) after its controlling shareholder JE Holdings, Inc. received enough tendered shares to exceed the minimum ownership threshold required for delisting.<\/p>\n
In a disclosure on Tuesday, RRHI said JE Holdings accepted 229.58 million common shares tendered by shareholders under its offer, price about P11.09 billion and corresponding to 21.54% of the retailer\u2019s issued and outstanding capital stock.<\/p>\n
The accepted tendered shares exceeded the 179.56 million common shares, or 16.85% of RRHI\u2019s outstanding capital stock, required to realize the 95% ownership threshold for voluntary delisting. The Philippine Competition Commission (PCC) has also confirmed that the transaction is just not subject to compulsory notification.<\/span><\/p>\n The tendered shares are scheduled to be crossed through the facilities of the PSE on July 13, with settlement set for July 15.<\/p>\n Upon completion of the cross, JE Holdings, along with members of the Gokongwei family and the opposite delisting proponents, is anticipated to own about 1.06 billion RRHI common shares, representing 99.69% of the corporate\u2019s issued and outstanding capital stock.<\/p>\n Consequently, RRHI\u2019s public float is anticipated to say no to 0.31%, after which the corporate will seek the PSE\u2019s approval for the voluntary delisting of its common shares.<\/p>\n Before the tender offer, the delisting proponents collectively owned 832.78 million common shares, representing about 78.15% of RRHI\u2019s issued and outstanding common shares.<\/p>\n \u201cOn behalf of the Board and the RRHI management team, I thank our shareholders for his or her confidence and partnership throughout RRHI\u2019s time as a publicly listed company. Your unwavering support has been instrumental in shaping our growth and success, and it has been our privilege to have shared this journey with you,\u201d RRHI Chairman Robina Gokongwei-Pe said in a press release.<\/span><\/p>\n JE Holdings offered to purchase RRHI shares at P48.30 apiece, representing a 23.06% premium over the stock\u2019s closing price on March 26 and a 32.23% premium over its one-year volume-weighted average price (VWAP).<\/span><\/p>\n The tender offer, which ran from May 25 to July 6, covered all issued and outstanding shares not beneficially owned by the Gokongwei group and the opposite delisting proponents as a part of the retailer\u2019s privatization plan.<\/span><\/p>\n RRHI President and Chief Executive Officer Stanley C. Co also thanked shareholders for his or her trust, support, and participation throughout the tender offer process.<\/span><\/p>\n \u201cWhile we embark on a brand new chapter, our commitment to being the retailer of alternative within the Philippines is unchanged. As we glance ahead, we remain focused on strengthening our operations, pursuing long-term priorities, and driving sustainable growth,\u201d he said.<\/p>\n Earlier this 12 months, RRHI announced it will close its 11 No Brand standalone stores nationwide by the top of June 2026, citing shifting consumer preferences and efforts to align its store formats with customer demand.<\/span><\/p>\n For 2026, the corporate has earmarked P5 billion to P7 billion in capital expenditures, primarily for store expansion and renovations.<\/p>\n Shares in RRHI declined 2.84%, or P1.30, to P44.50 each on Tuesday.<\/p>\n Hastings Holdings, Inc., a unit of the PLDT Helpful Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld<\/i> through the Philippine Star Group, which it controls. \u2014 Alexandria Grace C. Magno<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" JGSUMMIT.COM.PH LISTED retailer Robinsons Retail Holdings, Inc. (RRHI) has cleared a key hurdle in its planned voluntary delisting from the Philippine Stock Exchange (PSE) after its controlling shareholder JE Holdings, Inc. received enough tendered shares to exceed the minimum ownership threshold required for delisting. In a disclosure on Tuesday, RRHI said JE Holdings accepted 229.58 […]<\/p>\n","protected":false},"author":1,"featured_media":362985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1475,2491,3904,18151,104,17547,19148],"class_list":["post-362984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-exit","tag-nears","tag-offer","tag-pse","tag-retail","tag-robinsons","tag-tender"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t