C05827-2017 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 2,765,381,406 |
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 |
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Puregold acquires five (5) stores in Roxas City. |
Background/Description of the Disclosure |
Puregold acquires B&W, Black and White and Goodshop stores in Roxas City. |
Date of Approval by Board of Directors |
N/A |
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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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The acquisition is expected to bolster Puregold's store presence in Western Visayas Region. |
Date | Sep 26, 2017 |
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Description of the Transaction |
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Puregold acquires five (5) stores in Roxas City, Capiz including leasehold rights, trade names, inventory, furniture, fixtures, equipment and properties. |
Manner |
Acquisition of leasehold rights, trade names, inventory, furniture, fixtures, equipment and properties of B&W, Black and White and Goodshop stores in Roxas City. |
Description of the assets involved |
Five (5) supermarket stores located in Roxas City including leasehold rights, trade names, inventory, furniture, fixtures, equipment and properties. |
Nature and amount of consideration given or received |
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Amount is below 10% of total book value of the Company. |
Principle followed in determining the amount of consideration |
Based on projected revenue and net income. |
Terms of payment |
One time cash payment. |
Conditions precedent to closing of the transaction, if any |
None |
Any other salient terms |
None |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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With this acquisition, Puregold will have 6 stores in the Panay province and 11 stores in the Negros province for a total of 17 stores in Visayas region. This will give Puregold a total of 313 Puregold stores nationwide. |
Other Relevant Information |
None. |
Source(s) of funds |
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Cash position. |
If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes |
The assets acquired from the sellers were used in their supermarket operations in Roxas City and the issuer intends to continue said operations under the Puregold brand. |
Name | Candy Dacanay-Datuon |
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Designation | Corporate Secretary |