C08309-2020

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)
Nov 27, 2020
2. SEC Identification Number
168063
3. BIR Tax Identification No.
000-065-142-000
4. Exact name of issuer as specified in its charter
PRYCE CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
17th flr., Pryce Center, Chino Roces, cor. Bagtikan St., Makati City Postal Code 1203
8. Issuer's telephone number, including area code
(+632) 8 899 4401
9. Former name or former address, if changed since last report
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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 1,940,927,269
Treasury 83,572,731
11. Indicate the item numbers reported herein
Item 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.

Pryce CorporationPPC

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Pryce Corporation ("PPC") Common Shares Buyback Program

Background/Description of the Disclosure

On November 19, 2020, PPC’s buyback program, which was approved by the Board on November 16, 2018, had expired. As of November 19, 2020, the total number of shares repurchased was 83,572,731, equivalent to Php 390,388,227.30 or 78% of the total fund of Php 500 million earmarked for the buy-back program. Thus, there is an unspent balance of Php 109,611,772.70.

In view of the foregoing, the Board of Directors (“Board”), in a meeting today on November 27, 2020, approved two resolutions in relation to PPC’s buyback program under the following terms and conditions:

1. The Board approved the extension of the aforesaid buyback program from November 19, 2020 up to such time when the appropriated Php 500-million fund has been totally spent for the purpose;

2. Further, the Board approved that after the aforesaid Php500-million fund has been totally consumed, another buy-back program (Second Buy-back Program) will follow for which a similar fund of Php 500 million will be set aside and will last for one year.

The buyback programs shall be executed in the open market through the trading facility of the Philippine Stock Exchange. Repurchased shares shall be booked as treasury shares.

The buyback programs shall be implemented in an orderly manner and should not adversely affect PPC's and its subsidiaries' prospective and existing projects.

The capital structure of PPC as of November 19, 2020 is as follows:

Authorized Capital Stock (all common shares) - 2,098,000,000
Issued Shares - 2,024,500,000
Less: Treasury Shares - 83,572,731
Outstanding Shares - 1,940,927,269

Other Relevant Information

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Filed on behalf by:
Name Jose Ma. Ordenes
Designation Treasurer, SVP-Operations Monitoring