Seafront Resources Sells 11.33% Interest in Hermosa Ecozone Development Corp

​Seafront Resources Corporation (SPM) sold its entire 11.33% interest equivalent to 1,000,000 common shares in Hermosa Ecozone Development Corporation (HEDC) in favor of existing stockholders.

​Approved by the Board on May 8, 2025, the sale will help SPM raise funds for future investments and growth. The proceeds will improve SPM’s cash position and may be used for potential new investments in the energy sector.

The agreed purchase price is P325 MM, with P300 MM to be paid upfront in cash and the remaining P25 MM to be paid through an earnout based on future dividends from the shares sold.

The divestment is not expected to have a material adverse effect on the overall business of SPM. SPM remains a holding company, and there will be no change in its business activities following the sale.

Seafront Resources Corporation (SPM) was originally incorporated on April 16, 1970 as an oil exploration and production company. On October 18, 1996, the Company changed its primary purpose into a holding company, with oil exploration and production business as one of its secondary purposes.

SPM holds an interest in Hermosa Ecozone Development Corporation, a company that develops certain land areas for mixed-use purposes in Bataan.

The Company maintains a portfolio of investments in stocks traded in the Philippine Stock Exchange and investment in government securities.