Investors Alert – Bloom

January 16, 2014 at 9:06 am 1 comment

Investors Alert: BLOOM

Further to the disclosures made by BLOOM on 12 September 2013 and 13 September 2013 in connection with the termination by Bloomberry Resorts and Hotels Inc. (“BRHI”) and Sureste Properties, Inc. (“Sureste”) of its Management Services Agreement with Global Gaming Philippines LLC (“GGAM”) and submission of the matter to arbitration, we would like to request for a voluntary trading suspension of BLOOM shares in light of the sale by GGAM of all its shares of BLOOM (the “GGAM Shares”). These GGAM Shares are the subject of the counterclaim of BRHI and Sureste against GGAM in the said arbitration proceeding.

So: Trading Halt

So What: This is the reason (i think) why Bloom’s shares aint moving. This is the overhang, (Bloom’s partner purchased the shares at 7.50 i think, correct me if im wrong) as we posted here whenever someone asked about Bloom.

So What Now: This is good development. Kapag nabili na yung shares ng partner nya. No more overhang. Kaboom.

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Entry filed under: Phisix's Closet (PSEi). Tags: , .

Habang may net pa… now on its 3rd day Reference Chart – PESO

1 Comment Add your own

  • 1. charles  |  January 16, 2014 at 9:34 am

    Boss Spy, GGAM has 1.67php per share – pls read below

    On December 21, 2012, Global Gaming Asset Management, LLC acting through Global Gaming
    Philippines, LLC (“GGAM”) exercised its option to purchase 921,184,056 shares in Bloomberry
    from PMHI at the agreed option strike price of P=1.67 per share and was crossed through the
    Philippine Stock Exchange on December 28, 2012. As a result of the exercise of this option,
    GGAM now owns 8.7% of the outstanding capital stock of Bloomberry, while Prime Metroline
    directly owns 60.51% and indirectly owns 8.7% (through Quasar Holdings Inc.) equity stake in
    Bloomberry.

    Reply

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