CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Mar 26, 2015
2. SEC Identification Number
A200117708
3. BIR Tax Identification No.
219-934-330
4. Exact name of issuer as specified in its charter
XURPAS INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7F Cambridge Centre, 108 Tordesillas St., Salcedo Village, Makati CityPostal Code1227
8. Issuer's telephone number, including area code
(632) 889-6467
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares
1,720,000,660
11. Indicate the item numbers reported herein
Item 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Xurpas Inc.X
PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and Sections 4.1 and 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Results of Board Meeting
Background/Description of the Disclosure
At its meeting held on March 26, 2015, the Board of Directors of Xurpas Inc. ("X") approved the following: 1. Acquisition of a 49% stake in Indonesian IT firm PT Sembilan Digital Investama as a strategic move to commence operations in Indonesia; 2. 2014 Audited Financial Statements; and 3. Re-appointment Sycip Gorres and Velayo as external auditor.
Other Relevant Information
Details of the acquisition of a 49% stake in Indonesian IT firm PT Sembilan Digital Investama will be covered by a separate disclosure.
Below is a summary of the 2014 audited financial figures of X.
X’s revenues grew by 56% from P252.06 million in 2013 to P392.22 million in 2014, anchored by its mobile consumer business that has been able to sustain its robust growth. Despite the charges from the Initial Public Offering of its shares and organizational build-up in the last quarter of 2014, the company posted a 60% increase in its net income – P190.72 million in 2014 from P119.49 million in 2013. Without the non-recurring IPO charges, the increase in net income was 64% over the same period.