LISTED Premium Leisure Corp. (PLC) said it intends to voluntarily delist from the Philippine Stock Exchange (PSE) by July 9, following the tender offer made by its parent company Belle Corp.
“PLC, as proposed by and with the full support of its majority shareholder, Belle Corp., respectfully submits this petition for voluntary delisting of PLC’s common shares with a par value of 25 centavos per share from the main board of the PSE, with proposed voluntary delisting effective on July 9,” PLC said in a stock exchange disclosure on Monday.
The PSE suspended trading of PLC shares on May 7 following a tender offer by Belle Corp., consisting of 6.17 million PLC shares priced at 85 centavos, with a total value of P5.25 billion. The move brought PLC’s public float below the 20% minimum requirement of the PSE.
Belle Corp. is engaged in integrated resorts business. It is one of the portfolio investments of Sy-led conglomerate SM Investments Corp.
Meanwhile, PLC has a stake in the City of Dreams Manila integrated entertainment and gaming complex in Parañaque City.
It also has a 50.1% stake in listed Pacific Online Systems Corp. that leases online betting software and equipment to the Philippine Charity Sweepstakes Office for lottery operations in Visayas and Mindanao. — Revin Mikhael D. Ochave
