C08137-2021

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 2, 2021
2. SEC Identification Number
10683
3. BIR Tax Identification No.
000-141-166
4. Exact name of issuer as specified in its charter
SUNTRUST HOME DEVELOPERS, INC.
5. Province, country or other jurisdiction of incorporation
METRO MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
26th Floor, Alliance Global Tower, 36th Street cor. 11th Avenue, Uptown Bonifacio, Taguig City Postal Code 1634
8. Issuer's telephone number, including area code
(632) 8894-6300
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 7,250,000,000
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.

Suntrust Home Developers, Inc.SUN

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

Disclosure of Suntrust Home Developers, Inc. (“SUN”) in relation to the voluntary trading suspension of Suncity Group Holdings Ltd. (“Suncity Holdings”) on December 1, 2021 based on additional information announcement and the resignation of Mr. Alvin Chau (“Mr. Chau”) as Chairman and Executive Director.
Background/Description of the Disclosure

On December 1, 2021, Suntrust Home Developers, Inc. was informed that The Stock Exchange of Hong Kong Limited (“HKE”), at the request of Suncity Holdings, suspended trading of the shares of Suncity Holdings with effect from 9:00 a.m. on December 1, 2021 pending announcement from the Board of Suncity Holdings. Subsequently, Suncity Holdings made the following announcements:

(1) The board of directors of Suncity Holdings ("Suncity Holdings Board”) noted that there was news coverage (“News Coverage”) concerning the VIP business being carried out in Macau by Sun City Gaming Promotion Company Limited (“SGCPCL”) ceased operation completely from December 1, 2021 onwards. Some of the News Coverage mentioned that such VIP business has been carried on by Suncity Holdings and its subsidiaries (the “Group”), and employees of the VIP business will become subject to leave without pay arrangement.
The Suncity Holdings Board clarified that the Group has not been carrying on any VIP business in Macau and as such Suncity Holdings is not in a position to comment on whether the VIP business has ceased operations or whether employees of the VIP business will become subject to leave without pay arrangement.
Suncity Holdings also announced that on December 1, 2021, SGCPCL, a company which is wholly-owned by Mr. Chau and was a key supplier of hotel accommodation products to the Group under its travel and related business segment, would not be able to supply hotel accommodation products to the Group in the near term. In view of this and also taking into account the rapid outbreak of Covid-19 variant (omicron), the Group has suspended operations of its travel and related business segment for the time being.

(2) The Suncity Holdings Board likewise announced that it received a letter from Mr. Chau tendering his resignation from the posts of chairman of the board and executive director of Suncity Holdings, effective December 1, 2021 for the reason that his resignation would be in the best interest of Suncity holdings and also to allow him to devote more time for his personal matters.

Suncity Holdings has applied for, and been granted, the resumption of trading with effect from December 2, 2021, 9:00 a.m.
SUN, as part of the Group likewise wishes to clarify that it has not been carrying on any VIP business in Macau or elsewhere and that is not part of the travel and related business segment of the Group and is therefore not affected by the suspension of operations of said segment.
Suncity Holdings is the parent company of Fortune Noble Limited (“Fortune Noble”) which holds 51% of the outstanding capital of SUN. Fortune Noble also holds SUN convertible bond in the principal amount of up to P7,300,000,000.00 in accordance with a Subscription Agreement dated May 29, 2020.

On December 2, 2021, SUN was informed by Summit Ascent Holdings Limited (“SA Holdings”) that the latter received the resignation letter of Mr. Chau from the posts of chairman and non-executive director of the SA Holdings board. SA Holdings is the parent company of Summit Ascent Investments Limited (“SA Investments”).

SA Investments holds SUN convertible bond in the principal amount of up to P5,600,000,000.00 in accordance with a Subscription Agreement dated May 29, 2020. SA Investments also executed a Subscription Agreement on September 21, 2021 for its subscription.
Other Relevant Information

We will update the Exchange as more information becomes available to SUN.
Please refer to the following annexes for further information:

Annex A - Suncity Holdings Disclosure on Trading Suspension
Annex B - Suncity Holdings Disclosure on Resumption of Trading
Annex C - SA Holdings Disclosure on the Resignation of Mr. Chau
Filed on behalf by:
Name Nelileen Baxa
Designation Corporate Secretary