C04676-2017

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)
Jul 28, 2017
2. SEC Identification Number
ASO94-03992
3. BIR Tax Identification No.
003-871-592
4. Exact name of issuer as specified in its charter
Global Ferronickel Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Makati, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7F Corporate Business Center, 151 Paseo de Roxas cor. Arnaiz St. Makati City Postal Code 1228
8. Issuer's telephone number, including area code
(02) 519 7888
9. Former name or former address, if changed since last report
not applicable
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 2,334,640,312
11. Indicate the item numbers reported herein
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.

Global Ferronickel Holdings, Inc.FNI

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

Clarification of news article
Source Inquirer.net
Subject of News Report DENR to probe mine firm for bribery
Date of Publication Jul 28, 2017
Clarification of News Report

The Exchange requested the company to make a clarification on the news article entitled “DENR to probe mine firm for bribery” posted in Inquirer.net on July 28, 2017. The article reported in part that:

“PUERTO PRINCESA CITY—The Department of Environment and Natural Resources (DENR) on Thursday said it would investigate a mining company in Palawan province for allegedly bribing village officials in Brooke’s Point town in a bid to secure an endorsement for its application for renewal of its mining permit.

Natividad Bernardino, DENR regional director in Mimaropa (Mindoro, Marinduque, Romblon, Palawan), said her office had been notified of a complaint raised by Brooke’s Point Mayor Mary Jean Feliciano in the provincial government against Ipilan Nickel Corp. (INC), alleging that the company had bribed officials in exchange for an endorsement of their mineral production sharing agreement (MPSA).
. . . .

Ferdinand Libatique, INC resident mine manager, denied the bribery charge.
‘Ipilan Nickel Corp. strongly denies the allegations of bribery. We conduct our operations in accordance with all applicable laws and regulations and we strictly adhere to the highest ethical standards in our daily decisions and actions,’ Libatique said in a statement sent to the Inquirer.
. . . .

Mayor Feliciano accused INC representatives, whom she did not name, of bribing officials in the villages of Maasin and Mambalot to secure barangay endorsements for the renewal of its MPSA due to expire next year.

‘A barangay captain and several barangay kagawad (council member) received amounts of P50,000 and P25,000 in exchange for their barangay endorsements. This was according to villagers themselves and confirmed to me by at least one of the officials who received a bribe,’ Feliciano told the Inquirer.

INC needs to secure local endorsements as required by the Philippine Mining Act to be able to renew its 25-year contract with the government.
Feliciano said the village councils of Maasin and Mambalot passed separate resolutions endorsing INC’s operations.

These resolutions were transmitted to the town government recently.
‘But we will not uphold it, as we have already approved a municipal resolution rejecting [INC’s] MPSA renewal,’ the mayor said.

The Inquirer spoke with one of the village officials alleged to have received money. The official claimed he received P20,000 from a company representative whom he did not name.
. . . .”

The Company’s affiliate, Ipilan Nickel Corporation (INC), vehemently denies any allegation of bribery in in its Palawan mine project. INC works within the boundaries of law and ethical norms in all facets of its mining operations. It upholds integrity as a company core value. In line with this, the FNI group has an Anti-Bribery and Corruption Policy that all members strictly follow. While INC regrets that some quarters are resorting to defamatory accusations to discredit its good intentions and legitimate activities, this will not detract it from pursuing its sustainable development programs intended to benefit the community and country.
Other Relevant Information

-
Filed on behalf by:
Name Eveart Grace Pomarin-Claro
Designation Assistant Corporate Secretary, Alternate Corporate Information Officer