On October 1, 2018, iPeople, inc. (”IPO” or the “Company”), the House of Investments, Inc. (“HI”), Ayala Corporation (“AC”), and AC Education, Inc. (“ACEI”) signed the definitive agreement in connection with the merger of IPO, with ACEI through a share-for-share swap transaction with AC. As a result of the swap transaction, 100% of the issued and outstanding capital stock of ACEI will be owned by IPO while AC will now own 33.50% of the issued and outstanding capital stock of IPO.
Upon SEC approval, IPO issued 295,329,976 IPO shares to AC in exchange for 1,993,477,338 ACEI shares.
Please refer to the relevant disclosures of the Company on the following dates:
1) C06566-2018 dated October 2, 2018; 2) C08308-2018 dated December 12, 2018; and 3) C02757-2019 dated April 26, 2019.
As of July 5, 2022, the Company has complied with all post-approval requirements for the listing of the shares subject of the share-for-share swap transaction described above. The number of IPO’s listed common shares will be accordingly adjusted on listing date.
Further to said adjustment and the on-going reconciliation of the number of issued, outstanding and listed shares of the Company, 541 listed shares, which were the fractional shares previously listed as a result of the 30% stock dividend declared by the Company in 2005, will be removed from the PSE’s Registry of Listed Shares.
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