Pursuant to the Deed of Assignment dated 08 July 2014 (“Deed of Assignment”) entered into by and between the Registrant and its principal stockholder, Sta. Lucia Realty & Development, Inc. (“SLRDI”), which was disclosed by the Registrant on 10 July 2014, and the completion of the First Tranche, which was disclosed by the Registrant on 22 September 2014, the Registrant and SLRDI have agreed to settle the Second Tranche before the end of 2018 instead of July 2015 as originally arranged.
Based on the Deed of Assignment, under the Second Tranche, the Registrant will acquire Seven Hundred Fifty Million (750,000,000) shares, at the price of One and 20/100 Pesos (P1.20) per share, out of the Seven Billion Four Hundred Fifty One Million Five Thousand Seven Hundred Sixty Seven (7,451,005,767) shares owned by SLRDI in the Registrant to cover the settlement of the Nine Hundred Million Pesos (P900,000,000.00) out of the One Billion Eight Hundred One Million One Hundred Seven Thousand Six Hundred One Pesos (P1,801,107,601.00) intercompany advances made by the Registrant in favor of SLRDI.
Pursuant to the completion of the Second Tranche before the end of 2018, the capital structure of the Registrant shall be as follows:
Before the Completion of the Second Tranche Outstanding Shares: 8,946,450,000 Treasury Shares: 1,850,000,000 Shares of SLRDI: 7,451,005,767
After the Completion of the Second Tranche Outstanding Shares: 8,196,450,000 Treasury Shares: 2,600,000,000 Shares of SLRDI: 6,701,005,767
A copy of the Deed of Assignment is attached for your reference. |