FIRST Gen Corp. has extended for another two years its share-repurchase programs for its common and Series G preferred shares. In a disclosure on Thursday, the Lopez-led energy company said its board of directors approved the programs’ extension to June 14, 2022. The reacquisition of these shares, which began on June 15, 2018 and original set to end on June 14, 2020, covers up to 300 million common shares and up to P10 billion worth of its Series G shares. In a message to The Manila Times, Valerie Dy Sun, First Gen vice president and head of investor relations, said the company had “purchased 63 million [common] shares” to date. First Gen shares dropped by 96 centavos or 5.14 percent to close at P17.10 each on Thursday.

Source: Manila Times April 16, 2020 17:03 UTC