THE board of directors of listed holding company ATN Holdings, Inc. has approved the corporation’s application to list 2,325,055,429 shares on the Philippine Stock Exchange (PSE).
Unipage Management, Inc. will get these shares.
Unipage Management will subscribe to 325,055,429 common class “A” shares of ATN and two billion common class “B” shares at a price of 20 centavos per share.
Meanwhile, the board authorized Arsenio T. Ng, president, chief executive officer, and chairman of ATN, subscribing to 824,944,571 shares of the company at the same price. These shares will be granted if ATN’s capital stock is raised “under terms and circumstances advantageous to the company.”
“The waiver of the majority of the minority shareholders to undertake a rights/public offering with regard to the abovementioned subscription was also obtained,” ATN said in an exchange statement.