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Meralco’s SPNEC purchase actually a convertible loan - philstar.com - Philippines

Meralco’s SPNEC purchase actually a convertible loan

Meralco [MER 406.00, up 0.8%; 54% avgVol] [link] clarified reporting yesterday that it had purchased an additional 11.6% stake in SP New Energy [SPNEC 1.30, up 0.8%; 277% avgVol] from Leandro Leviste’s Solar Philippines (SPPPH) for P7.5 billion. In its note, MER said that it actually “extended a one year loan of P6.7 Billion exchangeable into 5.8 Billion SPNEC shares at maturity”. Later on, SPNEC was asked to clarify some points of the deal by the exchange, which it did in a reply that revealed: (1) the maturity date of the loan is September 2, 2025; (2) SPPPH will pay interest of 12% per year, with the ~5.8 billion SPNEC shares pledged as a security interest on the loan; (3) the ~5.8 billion shares are secondary shares (from SPPPH); and (4) there is an additional P0.8 billion tranche of the loan that is “subject to certain conditions.”   

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Suspensions are a big deal (to me) - philstar.com

Suspensions are a big deal (to me)

Trading suspensions are a semi-regular occurrence on the PSE, as they are the “stick” that the rules give to the PSE to brute-force corporations into compliance for a wide range of non-compliant behaviors. Most of the PSE’s suspensions are for companies that have failed to submit their Annual or Quarterly Report (sometimes both), but there have been an increasing number of suspensions handed out for public float violations, which is a more serious problem (as we’ll get into). This post is all about suspensions, what they are, what they do, and why they’re trouble for investors. Major disclaimer: I suspect this post is of most interest to medium- and long-term investors (like me) who hold positions in the market for years at a time.

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SPORTING CHANCE - Marlon Tapales - Is Inoue unbeatable? - philstar.com - Philippines - Thailand - Japan - India - Cambodia - city Phnom Penh, Cambodia

Is Inoue unbeatable?

It appears that there’s no man alive who can beat undisputed WBC/WBA/IBF/WBO superbantamweight champion Naoya Inoue in his weight division at the moment. The Japanese “Monster” is peaking at 31 and has a 28-0 record, with 25 KOs. He’s only the third boxer in history to win four titles in the same weight class with Terence Crawford and Oleksandr Usyk the others. His last nine fights ended in abbreviated fashion and 10 of his 25 KO wins were inside three rounds.

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1$:56.210 - philstar.com

1$:56.210

1$:56.210 UP

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Calvin Oftana - John Bryan Ulanday - Chot Reyes - Tropang Giga - Tropa rip Dyip on late surge - philstar.com - Philippines - city Manila, Philippines

Tropa rip Dyip on late surge

MANILA, Philippines —  Reigning champion TNT Tropang Giga turned it up late to beat Terrafirma, 107-89, and regain a piece of Group A lead in the PBA Governors’ Cup last night at the Ninoy Aquino Stadium.

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Manny V.Pangilinan - Smart/MVPSF taekwondo championships up - philstar.com - Philippines - county Bay - city Manila, Philippines

Smart/MVPSF taekwondo championships up

MANILA, Philippines —  Around 750 black belters from all over the country take part in the 2024 Smart/MVP Sports Foundation Best-of-the-Best Taekwondo Championships slated Sept. 7-8 at the Ayala Malls, Manila Bay in Parañaque City.

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Gilbert Bayoran - El Niño - SRA urged to explain sugar export - philstar.com - Philippines - Usa - city Bacolod, Philippines

SRA urged to explain sugar export

BACOLOD CITY, Philippines – Merits of exporting 25,300 metric tons of raw sugar to the United States while importing 200,000 MT of refined sugar must be carefully explained by the Sugar Regulatory Administration (SRA), according to Negros Occidental 5th District Rep. Emilio Bernardino Yulo III.

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Rick Olivares - Garcia, Nelson look to punch their way up the UFC ladder - philstar.com - Philippines - North Korea - city Las Vegas, state Nevada - state Nevada - city Manila, Philippines

Garcia, Nelson look to punch their way up the UFC ladder

MANILA, Philippines – When Steve Garcia and Kyle Nelson enter the Octagon on Sunday, September 10 (Manila time), for UFC: Gilbert Burns vs Sean Brady at the Apex in Las Vegas, Nevada, it will be almost like twins taking on each other.

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