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Shareholders of Ernesto Ang’s Primex give greenlight for private placement with affiliates

Shareholders of Primex Corp., a real estate company led by its president Ernesto Ang, have given their nod to the private placement transactions entered into by the company with its affiliates.

Approvals were given for the private placement deal involving 220.036 million Primex common shares which were sold for P1.47 each on August 24, 2020, as well as the 342.47 million common shares at P1.46 apiece on February 5, 2021.

Also approved was the private placement subscription transaction for Highvalue Holdings Inc. involving 120 million common shares at P1.47 each.

Primex said its shareholders also okayed the waiver of the requirement to conduct a rights or public offering of the shares subscribed pursuant to Section 5 of the consolidated listing and disclosure rules.

Among the company’s completed projects include two high-end residential projects namely, Goldendale Village located in Malabon and The Richdale situated along Sumulong Highway, Antipolo City.

Primex also completed the development of Goldendale II and Tresor Residences, which are also located in Malabon City.

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