May 7, 2013
PSE MEMORANDUM NO. LA-0176-13
| TO | : | The Investing Public |
| SUBJECT | : | P-H-O-E-N-I-X Petroleum Philippines, Inc. |
| Additional Listing |
Please be informed that the Board of Directors of The Philippine Stock Exchange, Inc., in its regular meeting on February 13, 2013, approved the application of P-H-O-E-N-I-X PETROLEUM PHILIPPINES, INC. ("PNX" or the "Company"), to list additional 171,250,799 common shares (the "Swap Shares"), with a par value of P1.00 per share, to cover its Share-for-Share Swap transaction ("Swap Transaction") with the shareholders of Chelsea Shipping Corporation ("CSC"). The 171,250,799 common shares were issued to the shareholders of CSC at an issue price of P8.2931 per share, in exchange for a total of 6,312,500 CSC shares at an exchange ratio of 30 PNX shares for every 1 CSC share. The total value of the Swap Transaction is P1,420,200,000.00. The details are as follows:
1. 171,250,649 PNX common shares issued to Udenna Management & Resources Corp. in exchange for 6,312,495 CSC common shares;
2. 30 PNX common shares issued to Mr. Dennis A. Uy in exchange for 1 CSC common...
