C08879-2022 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 14,757,239,931 | |
Voting Preferred Shares | 12,442,524,223 |
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Subject of the Disclosure |
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We write in connection with the Securities and Exchange Commission’s December 16, 2021 approval of the merger of Cebu Holdings, Inc. (“CHI”), Asian I-Office Properties, Inc., Arca South Commercial Ventures Corp., and Central Block Developers, Inc. (the “Absorbed Corporations”), with and into Ayala Land, Inc. (“ALI”), with ALI as the surviving entity (the “Merger”). |
Background/Description of the Disclosure |
On September 14, 2022, the Securities and Exchange Commission (SEC) confirmed that the issuance by ALI of 609,626,351 shares (the “Merger Shares”) to the pre-merger shareholders of the Absorbed Corporations is exempt from the registration requirements pursuant to Section 10.2 of the Securities Regulation Code. On October 7, 2022, ALI commenced the processing of the Certificate Authorizing Registration (“CAR”) with the Bureau of Internal Revenue (“BIR”) for the transfer of the properties from the Absorbed Corporations to ALI. As of today, the CAR application is still under review and pending approval. We are closely monitoring the said application. |
Other Relevant Information |
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Name | Michelle Valbuena |
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Designation | Senior Compliance Manager |