San Miguel Redeems Preferred Shares

San Miguel Corporation has announced that it is redeeming its outstanding issues shares relative to its preferred share issuances.

Photo Insert: SMC President and CEO Ramon Ang speaks at one of the company's vaccination sites.

In a disclosure to the Philippine Stock Exchange, the company issued the Notice of the Redemption of the outstanding and issued Series “2” Preferred Shares – Subseries C (“SMC2C Shares”) and Subseries E (“SMC2E”) of the Company.

The redemption price is P75.00 per share and shall be in accordance with the terms and conditions of the issuance of the SMC2C and SMC2E Shares.

The redemption was approved by the Board of Directors of the Company on August 5, 2021. Proceeds from the redemption shall be paid on September 21, 2021, to the stockholders of record as of September 10, 2021.

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