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*on buyback* Semirara Mining Corp.
...ayus

SMPC H1 royalty payment triples to nearly P1.7B

Integrated energy company Semirara Mining and Power Corporation (SMPC) has tripled its first half royalty payments to the Department of Energy (DOE) to 1.69 billion from P575 million during the same period last year.

The surge in government remittances was driven by the SMPC’s increased production and expanding operations. The company is targeting an annual coal production of 16 million metric tons in the next two to three years. Last year, SMPC produced 12 million metric tons of the indigenous fuel.

Of the P1.69 billion, about 676 million will go to the local government units where SMPC operates. By law, the Province of Antique will receive P135 million while the Municipality of Caluya and Barangay Semirara will receive P304 million and P237 million, respectively. The rest of the amount, or over P1 billion, will be retained by the National Government.

“Our continued partnership with the DOE allows us to create and deliver shared value to the government and our host communities. With the increased royalty payments, they can undertake more programs and projects for our countrymen,” said SMPC President and COO Victor A. Consunji.

Under the Local Government Code of 1991, local government units are entitled to a 40 percent share of royalty proceeds from petroleum, coal, geothermal, hydrothermal and wind resources.

In 2015, SMPC remittances accounted for 83 percent of the P2.2 billion total government royalty collections from energy resource and production. Western Visayas, SMPC’s host region, received the biggest LGU share at nearly P725 million.

SMPC is the only power producer in the country that owns and mines its own fuel source, allowing it to generate affordable baseload power for the Luzon and Visayas grids.


source: http://edge.pse.com.ph/openDiscViewer.do...8Uv4D.dpbs
Facebook Link to our 2017 SMP Charity Pictures https://www.facebook.com/SMPBack2School2017/
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 photo TheDailyHINT01_zpsae8386eb.png
seems like the "dumping" (and insider buying) is over...

antay na lang iyong "news" daw sa December... Smile
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start na...

after 2 months, sumampa na din ulit...nice... Smile
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buy back daw, php2B worth...starting tomorrow...

http://edge.pse.com.ph/openDiscViewer.do...EarNU.dpbs
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...here's the press release leon Smile

Semirara sets P2-billion share buyback program

SEMIRARA Mining and Power Corp. (SMPC) said its board in a special meeting on Thursday approved a buyback program of up to P2 billion worth of common shares.

The program aims to enhance shareholder value and to provide stockholders an opportunity to liquidate their investments, the Consunji-led company told the stock exchange.

SMPC said shares in the buyback program were based on the trading price at the open market through the trading facilities of the Philippine Stock Exchange beginning Dec. 8.

“The Corporation cannot accurately determine at this time its capital structure after the buy-back program since the actual number of shares to be repurchased will depend on the total buyback price of the shares,” it said.

Before the buyback program, SMPC’s capital structure is made up of 10 billion authorized capital stock, 4,261,145,720 issued shares, 4,261,145,720 outstanding shares and 3,463,570 treasury shares.

“The buyback is not an active and widespread solicitation, nor will it involve substantial number of shares, and will not adversely affect the Corporation’s prospective and existing development projects,” it added.

On Thursday, shares in SMPC surged 7.04% to close at P38 each.

In its trading recap for the day, RCBC Securities, Inc. said SMPC shares jumped “as investors turned optimistic on news that there is a split in the RCBC Securities added the listed firm’s buyback plan may have helped the stock’s rise. It said SMPC current market capitalization is at P151 billion.


source: http://bworldonline.com/semirara-sets-p2...k-program/
Facebook Link to our 2017 SMP Charity Pictures https://www.facebook.com/SMPBack2School2017/
Thanks To ALL Donors, Bawiin Naman Natin sa Profits
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