1JFC unit to redeem SGX-ST perps
Jollibee Worldwide Pte Ltd. intends to buyback up to $250mn Senior Perpetual Securities listed in Singapore Exchange (SGX-ST), out of $600mn outstanding notes. The tender offer started 04 Oct. & will expire 4pm London time on 03 Nov. 2021. Proceeds will come from JFC’s initial tranche of up to 12mn preferred shares under its 20mn preferred shelf registration.
2Sun Life to acquire DentaQuest
SLF will acquire DentaQuest, the 2nd-biggest provider of dental benefits in the US serving more than 33mn members. The move would more than double SLF’s employee benefits revenues & complement its current portfolio in health & group benefits.
3BLOOM updates legal proceedings with GGAM
BLOOM subsidiaries Sureste Properties (SPI) & Bloomberry Resorts & Hotels (BRHI) received the Judgement of the Singapore Court of Appeal (CA) dismissing their petition against the decision of the Singapore High Court dated 29 May 2020, which denied their petition to set aside the Final Award of the Arbitration Tribunal in favor Global Gaming Phils. LLC (GGAM). BLOOM furthered, in the event GGAM files an action to enforce the Arbitral Award in the Philippines where the assets & business of BRHI & SPI are located, BRHI & SPI will oppose such enforcement based on applicable Philippine law.
4New director in LR
Alfredo Abelardo B. Benitez resigned from LR’s board due to personal reasons, and Tsui Kin Ming was appointed as replacement effective 04 Oct. Tsui Kin Ming is member of the American Institute of Cert. Public Accountants, Certified Management Accountants & Certified Internal Auditors. He was former CFO of Meg*Star Int’l. in Macau, and former CFO of Jimei Group Ltd. in HK.
5ATN approved share issuance at P0.20/share
ATN’s board approved the subscription of Unpaged Management, Inc. of 2.325bn shares & Arsenio T. Ng’s 825mn shares, both at P0.20/share. The board also approved the waiver of majority of minority shareholders to conduct a rights/public float for the said subscription.