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NEWS
Notice to Shareholders of Trans-Asia Oil and Energy Development Corporation
November 13, 2012

All shareholders of Trans-Asia Oil and Energy Development Corporation (“TA” or the “Company”) are advised that the Company is conducting a Rights Offer of up to 1,415,002,816 common shares with a par value of P1.00 each on a pre-emptive basis to holders of common shares in the capital stock of the Company as of November 7, 2012 at an offer price of P1.00 per Share.

The Company also has the option to offer an additional 212,250,422 common shares to meet additional demand from Eligible Shareholders. In this regard, each Eligible Shareholder shall have the right to:

  1. Subscribe to one (1) Rights Share for every two (2) existing common shares held by them as of the Record Date; and

  2. Subscribe to additional shares over and above their respective Rights Entitlement (“Excess Subscription”).

Eligible Shareholders who are interested in subscribing to the Rights Offer are advised to:

  1. Fill up the subscription form in triplicate
  2. Fill up the signature card
  3. Send the above forms, together with the check payment and required attachments, to the Receiving Agent in the following address:

 

Stock Transfer Service Inc.

34th Floor, Unit D, Rufino Pacific Tower
6784 Ayala Avenue, Makati City
Tel. (632) 403-2410

 

All subscriptions and corresponding payments have to be submitted between November 14, 2012 to 12:00 noon of November 20, 2012. Applicants shall pay for the Rights Shares through a manager’s check, corporate check, or personal check drawn against a bank account with any Bangko Sentral ng Pilipinas-authorized bank or any branch thereof with a local clearing facility. Checks should be dated as of the date of submission of the application, made payable to “TA Rights Offer”, and crossed “Payee’s Account Only”.  Applicants should submit their payment to the Receiving Agent not later than 12:00 p.m. on November 20, 2012.

The subscription forms, signature cards and Rights Offer prospectus can be found in the “Why Invest” section of the Company website at http://www.transasia-energy.com/

Trans-Asia Oil and Energy Development Corporation is an end to end energy company, engaged in energy resource development, power generation and power supply.  The company’s resource development include interests in 5 oil and gas service contracts, 12 wind energy service contracts, and 1 service contract for geothermal energy.  The company currently owns and operates 204MW capacity in Luzon and 3.4MW capacity in Visayas. It has 155MW capacity under construction in Luzon.

For the nine month period ending September 2012, the Company posted consolidated revenue of P1.16 billion and net income of P348 million, representing an increase of 38% and 73% respectively over the same period last year.




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Phinma Energy name change approved by SEC PHINMA ENERGY Corp. said on Tuesday that it obtained regulatory approval to change its name from Trans-Asia Oil and Energy Development Corp. to better reflect its current activities. »
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