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COTABATO CITY — The Navy and local government units on Tuesday rescued 78 passengers of a distressed boat and its seven crewmen in the territorial seas of Tawi-Tawi, now in the custody of the Bangsamoro social services ministry, the regional police announced on Thursday.
Repower Energy Development [REDC 7.40 ?1.9%] [link] recently disclosed that its IPO anchor investor, TOKAI Corporation, purchased an additional 65.1 million REDC shares at ?7.47/share to double its stake in REDC to 20.1%. The company issued a clarification yesterday to say that the shares TOKAI acquired were purchased from REDC’s parent company, Pure Energy Holdings (PEH), and not directly from REDC. This means that the ?486 million that TOKAI paid will go to PEH, not to REDC. The company did note, however, that PEH is “committed to the advancement of REDC’s renewable energy projects”, and as such, will provide “capital infusion, advances and/or lending its credit... to enable REDC to pursue more projects.”MB BOTTOM-LINE: This transaction highlights the important differences between primary (new) and secondary (pre-owned) shares. In this case, had TOKAI purchased the stake in primary shares from REDC, then REDC would have had to issue new shares to TOKAI and the ?486 million would go directly to REDC’s bank account, for direct use on things that could benefit other REDC shareholders both now and in the future. Instead, by buying secondary shares from REDC’s parent company, no new shares are created, the shares are just transferred from PEH to TOKAI, and the cash goes directly to PEH.
LOS ANGELES – Tiger Woods tees it up in his first US PGA Tour event in more than 10 months on Thursday (Friday Manila time), and his return at The Riviera Country Club has sparked a familiar longing in the 15-time major champion.
Agriculture Secretary Francisco P. Tiu Laurel, Jr. on February 14, 2024, inspected the nearly-complete second phase of the Jalaur River Multipurpose Project (JRMP), a P19.7-billion infrastructure development project of the National Irrigation Administration that will increase rice production and benefit 25,000 farmers and 4,500 indigenous people in Iloilo province.
MANILA, Philippines — Single parents will now be entitled to free coverage of the state-run Philippine Health Insurance Corp. (PhilHealth) as provided under the law expanding the economic benefits for single fathers and mothers, a senior administration lawmaker disclosed yesterday.
THE Philippine Red Cross (PRC) and the Presidential Commission for the Urban Poor (PCUP) have partnered to provide first aid training, food and nutrition programs, health services and livelihood assistance to urban poor communities.
MANILA, Philippines — Environmental organizations and scientists called on the government to revert all abandoned, undeveloped and underutilized (AUU) fishponds to mangrove forests to fight climate change.
