Aboitiz Power Corporation (AP) in a disclosure to the Exchange (Philippine Stock Exchange), dated August 10, 2007, disclosed that:
"Aboitiz Power Corporation signed today a share purchase agreement with STEAG GMBH, concluding its successful bid for a 34% stake in STEAG State Power, Inc. The winning bid tendered by Aboitiz Power Corporation was US$ 91, 910,000.00...."
The Exchange implemented a trading suspension on AP shares effected at 10:00 am today (August 13, 2007), pending the disclosure by the corporation of the complete terms and conditions of the above-mentioned transaction, in connection with the requirements of section 5 of the revised disclosure rules on disclosure for substantial acquisitions.
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