CITICORE Renewable Energy Corp. (CREC) said its majority shareholder, Citicore Power Inc., (CPI) has declared property dividends that will directly transfer CREC shares to its two shareholders, streamlining ownership while retaining control.
In a disclosure to the Philippine Stock Exchange on Dec. 29, 2025, CPI said it will distribute its 5.58 billion CREC shares to Citicore Holding Investments Inc. and Purple Seed Capital Holding Inc., in proportion to their 80 percent to 20 percent stake in CPI.
Following the transaction, CHII will own 40.03 percent of CREC, while PSCHI will hold 10.01 percent.
CHII is owned by CREC chairman Edgar Saavedra, while PSCHI is owned by president and chief executive officer Oliver Tan. “We will still maintain majority and management control,” Tan said, adding the move will not affect operations or loan obligations. The dividend is subject to regulatory approvals. / KOC