C05950-2017 |
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, 2017) | 258,846,717,539.00 |
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 |
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Determination of Purchase Price and Price Per Share relative to the Acquisition of Europe Nutrition Joint Stock Company (“Eurofeed”) |
Background/Description of the Disclosure |
On August 4, 2017, Aboitiz Equity Ventures, Inc. (“AEV”) previously disclosed the acquisition of 70% equity interest in Eurofeed by Pilmico International Pte. Ltd. (Pilmico International), a wholly owned subsidiary of AEV. |
Date of Approval by Board of Directors |
Jul 29, 2017 |
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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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To expand its animal feeds business in Vietnam. |
Date | Aug 4, 2017 |
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Manner |
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The acquisition of the 70% of the outstanding shares of Eurofeed to be paid in cash. |
Description of the company to be acquired or sold |
Eurofeed is a joint stock company organized under the laws of Vietnam. |
Number of shares to be acquired or disposed | 2,800,000 |
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Percentage to the total outstanding shares of the company subject of the transaction | 70 |
Price per share | USD 1.14 per share |
Nature and amount of consideration given or received |
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US DOLLARS: Three Million Two Hundred Five Thousand Four Hundred Fifty One and Ninety Centavos (USD3,205,451.90) |
Principle followed in determining the amount of consideration |
Enterprise Value is $5,300,000.00 |
Terms of payment |
One-time payment upon Closing. |
Conditions precedent to closing of the transaction, if any |
(i) Subject to closing audit review; (ii) execution of a Shareholders’ Agreement and (iii) delivery by the Sellers of the corresponding Amended Investment Certificates, and other corporate documents, letters, deeds, and instruments to be submitted to the relevant governmental authorities of the Socialist Republic of Vietnam necessary to obtain the Amended Enterprise Registration Certificate, among others. |
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. Le Binh Hung and Ms. Nguyen Thi Ly | No relationship |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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The expansion of its core feeds business is Vietnam. |
Other Relevant Information |
n.a. |
Name | Sammy Dave Santos |
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Designation | Associate General Counsel |