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First Gen Exercises Call Option Over Energy Development Shares

First Gen Corp. said it exercised through a unit its call option over 195 million common shares of Energy Development Corp.

The exercise price for the call option is 5.67 pesos each, First Gen said in a disclosure to the stock exchange today.

First Gen in April 2010 signed call option agreements for a total 585 million shares, or 3.1 percent of Energy Development Corp.’s outstanding common stock. The agreements grant First Gen the right to buy the shares until April 2013.

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