C04768-2017 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
---|---|---|
Common Stock P1 par value | 5,633,792,557 | |
Amount of Debt Outstanding (March 31, 2017) | 259,135,524,000.00 |
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.
Subject of the Disclosure |
---|
Acquisition of Additional 15% interest in Pilmico Vietnam Feeds Joint Stock Company (formerly Pilmico VHF Joint Stock Company, hereafter “Pilmico Vietnam”) |
Background/Description of the Disclosure |
On July 31, 2014, Aboitiz Equity Ventures, Inc. (“AEV”) previously disclosed the acquisition by Pilmico International Pte. Ltd. (“Pilmico International”) of 70% equity interest in Pilmico Vietnam. |
Date of Approval by Board of Directors |
May 19, 2017 |
---|
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
---|
The acquisition is aligned with AEV’s strategy of expanding its core feeds business in Vietnam via the aqua feeds segment. |
Date | Aug 1, 2017 |
---|
Manner |
---|
The acquisition of additional 15% of the total outstanding shares of Pilmico Vietnam will be paid in cash. |
Description of the company to be acquired or sold |
Pilmico Vietnam is one of the largest aqua feed producers in Vietnam. |
Number of shares to be acquired or disposed | 4,500,000 |
---|---|
Percentage to the total outstanding shares of the company subject of the transaction | 15 |
Price per share | USD 0.9416 per share |
Nature and amount of consideration given or received |
---|
Cash/USD4,237,073.00 |
Principle followed in determining the amount of consideration |
Cash-free, debt-free valuation |
Terms of payment |
One-time payment |
Conditions precedent to closing of the transaction, if any |
None |
Any other salient terms |
None |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
---|---|---|
Mr. Vu Thanh Hai and Ms. Lam Mau Diep | None |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
---|
The acquisition is aligned with AEV’s strategy of expanding its core feeds business and expanding into the Vietnamese market. |
Other Relevant Information |
Pilmico International is required to purchase the remaining 15% equity interest of Mr. Vu Thanh Hai and Ms. Lam Mau Diep in Pilmico Vietnam by July 31, 2019. |
Name | Sammy Dave Santos |
---|---|
Designation | Associate General Counsel |