“CHP ANNOUNCES PRICING OF STOCK RIGHTS OFFERING”
CEMEX Holdings Philippines, Inc. (“CHP” or the “Company”) today announced that the offer price for its stock rights offering (“SRO”) of 8,293,831,169 common shares with a par value of P1.00 per common share (the “Offer Shares”), has been set at P1.54 per common share. Proceeds from the SRO would be used by CHP primarily to fund the expansion of its Solid Cement plant, including to pay outstanding amounts owed by Solid Cement Corporation (“Solid”) under a credit facility agreement dated November 21, 2018, as amended and restated, between Solid, as the borrower, and Cemex Asia B.V. (“CABV”), as the lender, which facility agreement has been used to fund the expansion project, and for other general corporate purposes, including paying outstanding amounts owed by APO Cement Corporation (“APO”) under a loan agreement dated October 1, 2014, as amended, between APO, as borrower, and CABV, as lender.
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch is acting as the Global Coordinator while BDO Capital & Investment Corporation serves as the Domestic Underwriter for the transaction. A confirmation of exempt transaction was issued by the Securities and Exchange Commission (“SEC”) last 11 December 2019. On 11 December 2019, the Philippine Stock Exchange (“PSE”) approved CHP’s application for the listing of additional shares on the PSE. Both the SEC’s and PSE’s approvals are subject to CHP’s compliance with all post-approval requirements of the SEC and the PSE, respectively. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Offer Shares or securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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