Zobel-led Ayala Corporation is voluntarily asking the Philippine Stock Exchange to suspend the trading of its Preferred “B” Series 2 Shares (APB2R shares) starting Nov. 14, 2024, because it will be redeeming the shares.
“We wish to remind the holders of our APB2R shares of our exercise of the call option on the said Shares on November 29, 2024, the fifth year anniversary from issue date of the Shares as specified in its Prospectus,” Ayala said in its disclosure to the PSE.
It added that “The Shares shall be redeemed at the redemption price equal to the issue price of P500 per share plus all accrued and unpaid dividends up until Nov. 29, 2024, based on the dividend rate of 4.8214 percent per annum.”
Ayala explained that the registrar for its APB2R shares needs to prepare a certified Redemption Entitlement Report and deliver it to the company and the paying agent no later than 9:00 A.M. of Nov. 19, 2024 or eight banking days immediately prior to the redemption date.
“In view of the foregoing, the record date for the full redemption of the Shares is set for November 15, 2024, and the trading suspension on our APB2R shares is intended to start on Nov. 14, 2024 until the re-issuance of the Shares,” it noted.
With this, the schedule for the final dividend and redemption is Nov. 14, 2024 for the ex-date while record date is on Nov. 15, 2024 and the payment date has been set for Nov. 29, 2024.
“Those entitled to the APB2R redemption payment are the shareholders who acquired the shares prior to the dividend ex-date, Nov. 14, 2024. They will receive the full redemption amount equal to the issue price plus the accrued and unpaid dividend for the period beginning Aug. 29, 2024 to Nov. 29, 2024,” Ayala explained.
Depending on the payment mode specified by the shareholders as appearing on the record of the Registrar, the final dividend and equity redemption shall be paid by electronic transfer to stockholders with enrolled accounts.
For stockholders with no enrolled accounts, both the dividend checks and the redemption checks shall be available for pick-up at the Stock Transfer Service, Inc.’s office.