Businessman Antonio Tiu is reducing ownership in listed firm Greenenergy Holdings Inc. and private holding company Earthright Holdings Inc.
Greenergy, in a disclosure to the stock exchange, said Tiu-led EHI agreed to assign its 750 million partially paid Greenergy common shares to MIS Maritime Corp. for P187.5 million.
MIS shall assume full payment of the remaining unpaid subscription of EHI.
As a result, Tiu’s total shareholdings in Greenergy will drop to 38.16 percent from 58.99 percent.
MIS, on the other hand, shall hold 20.83 percent of the total issued and outstanding shares of the company.
The actual transfer of the subject shares will be recorded in the books of Greenergy upon receipt of Certificate Authorizing Registration issued by the Bureau of Internal Revenue.
Meanwhile, AgriNurture Inc., reported that Tiu has reduced his ownership in the company EHI.
EHI, which is a substantial stockholder of AgriNuture, reported that Taiwan businessman Li Pei Feng has subscribed to 6,660 common shares from EHI’s unissued capital stock. This is equivalent to 39.98 percent ownership in the company.
Tiu’s stake in EHI dropped to 60 percent from 99.96 percent. Jenniffer B. Austria