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