In a special meeting on Tuesday, August 11, the network’s board of directors approved to purchase the PDRs issued by GMA Holdings at closing price on Tuesday or lower. The price of GMA PDRs closed at P4.56 on Tuesday.After the purchase, the PDRs will then be converted into common shares. This means that foreigners will no longer be able to use PDRs to invest in GMA Network.
GMA noted that the issuance of PDRs"might be affected by the findings and recommendations" of lawmakers on ABS-CBN's bid for franchise renewal. Investors, Filipino or not, will be entitled to the dividends of the company, but they have no right to vote and are not considered shareholders.PDRs and investor sentiment
very good
to think PDRs are legal 🙄
natakot🤣🤣
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