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ACEN invests $522k to ENEX Corp
It subscribed to 30 million non-voting preferred shares.
ACEN Corporation signed a subscription contract to its subsidiary ENEX Corporation with a total transaction value of around $522,100 (P30m).
In a disclosure, ACEN said it subscribed to 30 million non-voting preferred shares at a par value of $0.017 (P1.00) per share.
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“The Subscription Price will be used to fund the operational requirements of ENEX, and transaction costs for the creation and issuance of the Preferred Shares,” it said.
ACEN is a principal stockholder of ENEX, a company involved in oil and gas exploration and production.
$1 = P57.46
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