By Jenniffer
B. Austria | Posted on Dec. 08, 2012 at 12:00am |
[
manilastandardtoday.com ]
Eton
Properties Philippines Inc., the real estate unit of tycoon Lucio Tan, extended
the deadline for the company’s minority shareholders to participate in the
tender offer.
Eton said in
a disclosure to the stock exchange the deadline for the tender offer being
conducted by major stockholder Paramount Land Equities Inc. was extended until
Dec 12.
The deadline
for the tender offer was originally set on Dec. 5.
The
Securities and Exchange Commission earlier directed the property company to
delay or postpone the tender offer period.
The conduct
of the tender offer is a requirement for the company, which is seeking
delisting from the stock exchange.
Eton said as
of Dec. 5, 44.07 million common shares
were already tendered, out of the 73.79 million shares owned by the public.
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