C00653-2017

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

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)
Feb 7, 2017
2. SEC Identification Number
168063
3. BIR Tax Identification No.
000-065-142-000
4. Exact name of issuer as specified in its charter
PRYCE CORPORATION
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
17th Floor, Pryce Center, 1179 Chino Roces Ave. cor. Bagtikan St., Makati City Postal Code 1203
8. Issuer's telephone number, including area code
(632) 899-44-01
9. Former name or former address, if changed since last report
-
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 2,000,000,000
11. Indicate the item numbers reported herein
-

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.

Pryce CorporationPPC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

This is a response to the news item that appeared in the February 7, 2017 issue of the BusinessWorld, which reported Eastern Petroleum Corporation’s allegations (via a complaint filed before a court) of illegal refilling by Pryce Gases, Inc. and Mr. Efren A. Palma being alleged as president of Pryce Gases, Inc.
Source BusinessWorld issue of February 7, 2017
Subject of News Report Allegation by Eastern Petroleum Corp. of Pryce Gases, Inc.'s Illegal refilling
Date of Publication Feb 7, 2017
Clarification of News Report

“Pryce exec to face raps over illegal LPG refilling” posted in BusinessWorld Online on February 7, 2017. The article reported in part that:
“EASTERN PETROLEUM Corp. said on Monday that the Imus, Cavite prosecutor had backed its claims that its EC Gas liquefied petroleum gas (LPG) cylinders were being illegally refilled by Pryce Gases, Inc.
‘The Office of the Provincial Prosecutor’s resolution confirms our allegations of illegal LPG refilling and gives a legal cover to pursue our case (against Pryce Gases),’ Eastern Petroleum said in a statement.
Eastern Petroleum said the Provincial Prosecutors’ Office of Imus, Cavite found probable cause to indict Efren A. Palma, Pryce Gases president and chief operation officer, of two counts of violation of Batas Pambansa 33, as amended by Presidential Decree 1865, and two counts of violation of Republic Act 8293 of the Intellectual Property Code of the Philippines of 1997.
. . . .
The one-page resolution, penned by Prosecutor Anita A. Gaduang-Rosales, was based on the results of two test buys conducted by members of the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG), Eastern Petroleum said.
The company said the issuance confirmed that the refilling plant of Pryce Gases at Maguyam in Silang, Cavite was engaged in illegal refilling of LPG, putting at risk the lives of LPG users as well as their properties.
It added that the results of the two test buys showed EC Gas cylinders were being refilled by Pryce Gases, which it said were enough to establish the illegal activities that are punishable under the said laws.
. . . .”
Other Relevant Information

The Company's response and clarification are contained in the attachment, as amended / corrected.

Note: An amendment was made on the attachment earlier released, so that the parenthesized phrase "(via a complaint filed before a court)" in the first paragraph was changed / corrected to "(via a complaint filed before the prosecutor’s office)". This is to mean that there is no case yet filed before a court on Eastern Petroleum Corp.’s complaint and that the instant complaint is still before the prosecutor's office; whereas Pryce Gases, Inc. is still studying its legal options, including the filing of appropriate charges for misuse of judicial processes against those involved.
Filed on behalf by:
Name Jose Ma. Ordenes
Designation Treasurer; Vice President - Operations Monitoring; Alternate Corporate Information and Compliance Officer