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)
- Dec 19, 2014
- 2. SEC Identification Number
- 77487
- 3. BIR Tax Identification No.
- 000-388-771
- 4. Exact name of issuer as specified in its charter
- JOLLIBEE FOODS CORPORATION
- 5. Province, country or other jurisdiction of incorporation
- PHILIPPINES
- 6. Industry Classification Code(SEC Use Only)
- 7. Address of principal office
- 10/F JOLLIBEE PLAZA BUILDING, 10 F. ORTIGAS JR. AVE., ORTIGAS CENTER, PASIG CITY Postal Code 1600
- 8. Issuer's telephone number, including area code
- (632) 634-1111
- 9. Former name or former address, if changed since last report
- N/A
- 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 1,066,790,190 Treasury Shares: Common 16,447,340 - 11. Indicate the item numbers reported herein
- -
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.
Jollibee Foods CorporationJFC
PSE Disclosure Form 4-22 - Joint Ventures References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
|---|
JFC and RRJ to Acquire Territorial Rights to Expand and Operate the Dunkin' Donuts Brand in China |
| Background/Description of the Disclosure |
JFC and RRJ (through wholly owned subsidiaries Jollibee Worldwide Pte Ltd and Jasmine Asset Holding Ltd) will form a joint venture company (the "JV"). The JV will sign a Master Franchise Agreement with Dunkin' Donuts Franchising LLC to own and operate Dunkin' Donuts stores in key territories in the People's Republic of China. |
| Date of Approval by Board of Directors | Dec 19, 2014 |
|---|---|
| Date of Approval by Stockholders, if applicable | N/A |
| Description and nature of the transaction including the timetable for implementation, and related regulatory requirements |
|---|
• signing of Joint Venture Agreement on December 19, 2014 |
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
|---|
The Dunkin' Donuts deal provides us with an excellent opportunity to operate and expand one of the leading global coffee chain brands in the 2nd largest economy in the world. |
| Amount of investment and/or interest by the parties involved |
|---|
• 60% JWPL; 40% Jasmine |
| Provisions on profit-sharing, arrangements on management and operations |
• 60% JWPL; 40% Jasmine |
| Conditions precedent to closing of transaction, if any |
• Incorporation of JV |
| Other salient features of the joint venture agreement |
N/A |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
The initial investment from JWPL would amount to about USD 18 Million in the first twelve (12) months of operations. The projected sales and profit and loss in the first three (3) years are not expected to be significant since the first few years will be focused on developing and building the store model and economics. |
| Other Relevant Information |
Please see attachment. |
| Name | VALERIE AMANTE |
|---|---|
| Designation | VICE-PRESIDENT |