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First Gen Exercises Call Option Over Energy Development Shares

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March 8 (Bloomberg) -- 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.

Link to Company News:{EDC PM <Equity> CN <GO>} Link to Company News:{FGEN PM <Equity> CN <GO>}

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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