As it received a tender offer for its shares.
On Wednesday, October 7, the Figaro Culinary Group (FCG) notified the Philippine Stock Exchange about its plan to voluntarily delist from the exchange.
According to the company behind Angel’s Pizza, it has received a Notice of Intention to Conduct a Tender Offer and to Voluntarily Delist from Figaro Coffee Systems Inc. (FCSI), which made a tender offer at the price of Php 0.82 per share.
It will cover all the outstanding common shares of the Company owned by the other shareholders, except the common shares owned by majority shareholders Monde Nissin Corporation, Carmetheus Holdings, Inc., and Camerton, Inc., as well as the qualifying common shares of the directors.
“To finance FCSI’s Tender Offer, FCSI will obtain a Senior Secured Term Loan Facility from China Banking Corporation,” it further disclosed.
The plan was approved by the Board during a meeting held on October 7, with a special stockholders’ meeting also announced on November 13 to discuss the approval for the voluntary delisting with the PSE.
They also moved the Annual Stockholders’ Meeting from the first Wednesday of December to January 27, 2027, in line with this matter.
“Details of the meeting including the time, record date and agenda, among others will be subject to further approval by the Board,” FCG further disclosed.
