Ferronoux Holdings' Board Approved Property-for-Share Swap with Eagle 1 Landholdings, Inc.

The Board of Directors of Ferronoux Holdings, Inc. approved the property-for-share swap involving the issuance by the Company of up to 918,000,000 common shares (the Swap Shares) at approximately P4.70 per share, in exchange for 3 parcels of land (the Properties are valued at approximately P4,314,600,000.00) owned by Eagle 1 Landholdings, Inc. (Eagle 1) situated in Brgy. Tambo, Parañaque City with a total area of 94,144 square meters (the Properties), with the Swap Shares to be issued out of an increase in the capital stock of the Company.

The Company and Eagle 1 intend to jointly develop the Properties to realize the full potential value of the Properties through the Company’s resources, including, but not limited to, the ability to raise funds from the public.

​The Company will increase its real estate assets through the acquisition of the Properties and issue new shares in the Company out of the increase in capital stock as consideration.

Ferronoux Holdings, Inc. (FERRO) formerly AG Finance, Incorporated was established in December 14, 2001 primarily as a financing company. In 2015, the Board approved the change in the Company’s primary purpose to that of a holding company.

Following the change in its primary purpose, the Company ceased its lending activities on June 30, 2015.

On February 6, 2018, the Securities and Exchange Commission approved the change in the Company’s name to the present one.
Currently, FERRO, as a holding company, is considering several investment opportunities and business ventures that would allow stakeholders to maximize the value of their investments.