Commission Decision No. 08-M-005/2020:
In the Matter of the Proposed Acquisition by Synergy Grid & Development Phils., Inc of Shares in OneTaipan Holdings Inc., and Pacifica21 Holdings, Inc.
The proposed transaction involves the acquisition by Synergy Grid & Development Phils., Inc. (“Synergy”) of 67% of the total issued and outstanding capital stock of each of OneTaipan Holdings, Inc. (“OneTaipan”) and Pacifica21 Holdings, Inc. (“P21”) , respectively, in exchange for its issuance of additional shares in stock out of an increase in its authorized capital stock.
After the completion of the proposed transaction, Synergy will directly control OneTaipan and P21, which will become subsidiaries of Synergy.