Emperador Inc. said the conversion of an equity-linked securities it issued to Arran Investment Pte. Ltd. has been extended to Aug. 12, 2025, from the maturity of Feb. 12, 2025.
This developed after a similar extension was made in Aug.24, 2024, mutually agreed between the spirits maker and the investment arm of Singapore’s sovereign wealth fund, Government of Singapore Investment Corp. (GIC).
“The ELS instrument was issued on 04 December 2014 to Arran as part of its investment in the company, and on 03 December 2021, the company was given a period until 28 February 2022 to issue 475 million ELS shares to Arran per the ELS instrument. The Conversion Period went through a number of modifications, the latest of which is its extension as mentioned above,” Emperador told regulators.
The securities form part of the P17.6 billion investment of Arran in Emperador in 2014 in which it received an 11.76 percent share.
The investment was a mix of equity and convertible securities that was priced at P11 per share.