Premiere Horizon has signed a Subscription Agreement with LDA Capital for 70,835,000 new primary shares of PHA at a subscription price of Php1.01 per share.
Premiere Horizon Alliance Corporation (PSE:PHA)
PASIG CITY, PHILIPPINES, October 18, 2021 /EINPresswire.com/ — Premiere Horizon Alliance Corporation (PHA) announced on 18 October 2021 that it has signed a Subscription Agreement with LDA Capital Limited. LDA has agreed to subscribe 70,835,000 new primary shares of PHA at a subscription price of Php1.01 per share. LDA has remitted to PHA a total of Php71,543,350 as full payment for the subscribed shares.
As disclosed on 21 July 2021, the Board of Directors of PHA has approved the Put Option Agreement with LDA Capital, a global investment group, to provide PHA with up to Two Billion Five Hundred Million Pesos (PhP2,500,000,000) in committed equity capital over the next thirty-six months. Under the Agreement, the Company will be able to access the equity financing by exercising Put Options.
PHA announced on 12 August 2021 that it has issued a Put Option Notice to LDA in accordance with the provisions of the Put Option Agreement. The subscription price of Php1.01 per share for the 70,835,000 shares is 90% of the average Volume Weighted Average Price (VWAP) of the Company’s shares during the pricing period after the Put Option Notice.
The investment of LDA in Premiere Horizon confirms its belief in the growth prospects of PHA and the Philippines. The funds will be used for the expansion of its real estate projects through subsidiaries West Palawan Premiere and Goshen Land Capital as well as new investments in fintech and mining.
About LDA Capital
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. Our team has dedicated their careers to international & cross border opportunities having collectively executed over 200 transactions in both the public and private markets across 42 countries with aggregate transaction values of over US$10 billion. For more information please visit: www.ldacap.com; For inquires please email: info@ldacap.com
About Premiere Horizon
Premiere Horizon Alliance Corporation is an investment holding company with a vision to develop the countryside through ecotourism, responsible mining and consolidated real estate developments while exploring diversified interests in clean energy, innovative technology and sustainable agriculture. For more information please visit: https://premierehorizon.com/ For inquires please email: investors@premierehorizon.com
Ana Liza Aquino
Premiere Horizon Alliance Corporation
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