The total tender offer sales proceeds, after deducting selling charges, will be disbursed on [September 19], 2023, the “Settlement Date.”
If you tendered physical securities directly through First Metro Securities, the Tender Offer Agent, the method of receiving the net proceeds will depend on your chosen option when you tendered. The net proceeds can either be credited to your nominated bank account, or you can opt to collect a check, which will be made available for pick-up at First Metro Securities’ Makati office within thirty (30) business days from the Settlement Date. During payment collection, you must present a valid ID, and if you are sending an authorized representative, they need to present an authorization letter from you. Unclaimed checks after (thirty) 30 days will be transferred to the Stock Transfer Agent, who will then send them to the shareholder via registered mail. Any bank charges, including any outward remittance charges that may apply in relation to the crediting of proceeds, shall be for the account of the Tendering Shareholder. Shareholders who opt to receive the proceeds via check payment deposit to their designated bank account must not hold the Tender Offer Agent and the Bidders liable with respect to this payment option, and the payment shall be deemed received by the shareholder.
On the other hand, if you tendered scripless shares through your broker, the net proceeds will be credited to your broker’s account, and they will take care of the subsequent payment to you.
Update: As a result of the Tender Offer period extension to September 19, 2023, the Settlement Date will be adjusted to September 28, 2023.