The Board of Directors approved the filing of the Petition for Voluntary Delisting (the "Petition") and conduct of a tender for the acquisition of common shares held by minority shareholders during the 5 February 2013 Special Board Meeting of the Board of Directors of San Miguel Properties, Inc. (the "Company"). On 4 March 2013, the Company filed with the Philippine Stock Exchange (PSE) the Petition with 6 May 2013 as the effective date of delisting of common shares from the PSE.
On 25 April 213, PSE approved the voluntary delisting of the Company. There are 309 Shares which were tender offered and bought back by the Company to be converted as treasury shares. The Company is still qualified to be a public corporation based on its secondary license, the number of stockholders and total assets set by the Securities and Exchange Commission.