SEAFRONT Resources Corp. on Thursday said a total of 29,925,960 shares were sold back to the company under a voluntary tender offer that ended last week.
The tender offer period ran from Jan. 29, 2026 until Feb. 27, 2026, during which time shareholders were allowed to offer all or part of their holdings for sale to the company at P2.70 per share.
The company had earlier told the Securities and Exchange Commission that it planned to acquire up to 34,580,000 common shares, equivalent to 21.21 percent of Seafront’s total outstanding shares.
Following the end of the offer period, the tendered shares will be purchased by Seafront “via a block sale through the facilities of the Philippine Stock Exchange Inc. and will be fully paid and settled on March 12, 2026,” it said in a disclosure.
The company said it would submit an amended tender offer report to reflect the final results of the transaction once the tendered shares were fully paid on the settlement date.
In June 2025, the company’s board approved the conduct of a share buyback program to enhance shareholder value through a tender offer. In a Jan. 26, 2026 meeting, the board approved the tender offer price of P2.70 apiece.
Seafront Resources shares on Thursday gained P0.17, or 6.49 percent, to close at P2.79 each.