Apollo Global bares export schedule changes after ‘Egay’ fallout
MANILA, Philippines — Listed holding company Apollo Global Capital announced a round of changes on its export schedules this year after its operations were hampered by Typhoon Egay.
In a disclosure sent to the Philippine Stock Exchange Index on Monday, Apollo Global explained that rough seas cut off three of the MB Siphon 1’s anchor wires, their off-shore mining vessel.
The holding company said the “unfortunate incidences” happened when Egay passed through the storm shelter area in Sta. Ana, Cagayan.
That said, Apollo Global implemented an assessment protocol that included salvaging, anchor retrieval, and repair operations.
“Rest assured that we are working double time to return to the offshore mining site for operations. In light of this fortuitous event, there will be an adjustment of our export schedules this year,” the disclosure said.
Shares in Apollo Global currently trade 12.5% down at P0.021 apiece as of 11:17 Monday morning.
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