Century Properties board OKs internal mergers, awaits approvals

CENTURY Properties Group, Inc. (CPG) said its board has approved the merger of subsidiaries as part of a restructuring plan, subject to approval from shareholders, creditors, and regulators.

In a disclosure on Monday, the company said the board approved the merger of PHirst Park Homes, Inc. into CPG, with the parent firm as the surviving entity.

It also approved the merger of Century Limitless Corp. (CLC) and Century Communities Corp. (CCC), with CLC as the surviving entity.

“The respective plans of merger will be submitted for approval by the stockholders during the upcoming annual stockholders’ meeting. The consummation of the proposed mergers shall be subject to the approval of creditors and relevant regulatory authorities,” the company said.

CPG said the restructuring aims to improve resource allocation and operational synergies, enhance financial management, utilize tax assets, and improve regulatory and tax administration.

Separately, the board approved the company’s financial report for the year ended Dec. 31, 2025.

The board also approved the appointment of SyCip Gorres Velayo & Co. (SGV) to provide non-audit services related to merger support, including compliance, financial reporting, and due diligence requirements.

At the local bourse on Monday, shares in Century Properties Group, Inc. closed unchanged at P0.67 apiece. — Alexandria Grace C. Magno