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EDC president Richard Tantoco pockets P3.2M in sale of First Gen shares

Energy Development Corp. president and COO Richard D. Tantoco saw the recent rise in First Gen Corp. shares as a chance to add more cash to his pockets.

Energy Development Corp. president and COO Richard D. Tantoco saw the recent rise in First Gen Corp. shares as a chance to add more cash to his pockets.

Tantoco unloaded 100,000 FGEN shares on January 14 at P32 per share. FGEN had just touched its 52-week high of P33.70 three days earlier. Tantoco is a director and executive vice president of FGEN.

FGEN and EDC are both subsidiaries of the Lopez-owned First Philippine Holdings Corp. Tantoco has been with the Lopez group for the last 20 years.

The 52-year old used to be a brand manager of Procter and Gamble Philippines and part of the New York-based cosulting firm, Booz Allen and Hamilton, Inc.

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