C06109-2016 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Stock P1 Par Value | 5,633,792,557 | |
Amount of Debt Outstanding (June 30, 2016) | 180,230,126,448.00 |
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Subject of the Disclosure |
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Acquisition of Partnership Interests in Pilmico Viet Nam Trading Company Limited (a Vietnam partnership company) |
Background/Description of the Disclosure |
Pilmico International Pte. Ltd. purchased 100% ownership interest in Pilmico Viet Nam Trading Company Limited (“Pilmico Vietnam Trading”) |
Date of Approval by Board of Directors |
Oct 5, 2016 |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
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Pilmico Vietnam Trading will be the vehicle used for the importation and distribution of Pilmico products in the Vietnam market. |
Date | Oct 28, 2016 |
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Manner |
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Capital Assignment Agreement |
Description of the company to be acquired or sold |
Pilmico Vietnam Trading is a limited liability company operating in Vietnam and engaged in the wholesale of food products, beverages, agricultural and forestry raw materials, among others. |
Number of shares to be acquired or disposed | - |
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Percentage to the total outstanding shares of the company subject of the transaction | - |
Price per share | Not applicable |
Nature and amount of consideration given or received |
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Cash consideration of VND 888,000,000. |
Principle followed in determining the amount of consideration |
Consideration is based on the capital contribution made by the seller of his interest in Pilmico Vietnam Trading. |
Terms of payment |
Cash |
Conditions precedent to closing of the transaction, if any |
Closing of the transaction is subject to the approval of the Ministry of Industry and Trade of Vietnam. |
Any other salient terms |
None |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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Mr. Pham Thu Huong | None |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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Pilmico expects to expand its market in the ASEAN region. |
Other Relevant Information |
None |
Name | Therese Xyza Abarca |
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Designation | Junior Associate General Counsel |