AyalaLand Logistics Holdings Corp. announced on Friday that its board of directors has approved the sale of all the remaining delinquent stocks of the company.
In its notice of sale, AyalaLand Logistics said its board approved and authorized at a regular meeting on Aug. 5 the re-auction of its remaining 9.22 million delinquent shares.
“To avoid the auction of such shares, delinquent stockholders should settle their outstanding liabilities with the company at any time prior to the auction date,” AyalaLand Logistics told the stock exchange.
The auction will be held Sept. 24.
The company said the amounts due will continue to be subject to the interest rate of 6% per annum until fully paid.
“The notice of sale with the list of delinquent stockholders will be published once a week for two consecutive weeks in one newspaper of general circulation before the sale,” it noted.
“Notice of the sale will also be sent by courier to the delinquent stockholders.” — Arjay L. Balinbin