C07286-2022

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)
Sep 30, 2022
2. SEC Identification Number
184044
3. BIR Tax Identification No.
350-000-775-860
4. Exact name of issuer as specified in its charter
JG SUMMIT HOLDINGS, INC.
5. Province, country or other jurisdiction of incorporation
METRO MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
43rd Floor, Robinsons Equitable Tower, ADB Avenue corner Poveda Street, Ortigas Center, Pasig City, Metro Manila Postal Code 1605
8. Issuer's telephone number, including area code
(632) 8633-7631 to 40
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 7,520,983,658
11. Indicate the item numbers reported herein
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.

JG Summit Holdings, Inc.JGS

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification of News Reports
Source philSTAR.com
Subject of News Report Ayalas, Gokongweis to merge bank units
Date of Publication Sep 30, 2022
Clarification of News Report

We refer to your letter dated September 30, 2022 requesting JG Summit Holdings, Inc. to clarify and/or confirm a news article entitled "Ayalas, Gokongweis to merge bank units" posted in philSTAR.com on September 30, 2022. The article reported in part that:

“MANILA, Philippines — A possible merger is in the works between Ayala-led Bank of the Philippine Islands (BPI) and Robinsons Bank Corp. (RBC) of the Gokongwei Group to form the country’s second largest lender in terms of assets.

Through a share swap agreement, an industry source said the Gokongweis would likely end up with a six percent stake in the 171-year-old bank led by the Ayala Group.

The board of directors of the Gokongwei-led bank is set to approve the execution of an agreement between Robinsons Retail Holdings Inc., JG Summit Capital Services Corp. and BPI.

BPI confirmed it was in talks with Robinsons Bank over a potential collaboration.

‘Please be informed that we are in discussions on a potential collaboration between BPI and Robinsons Bank. Further disclosures will be made at the appropriate time,’ the bank said in a statement.

Under the planned consolidation, BPI would emerge as the surviving entity. BPI has close to 900 branches and more than 2,500 ATMs, while RBC has about 150 branches and 354 ATMs.

The transaction is subject to the approval of shareholders as well as regulators, including the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), Philippine Deposit Insurance Corp. (PDIC) and the Philippine Competition Commission (PCC).

. . . .

In an article posted on spot.ph that was later taken down, RBC resident and CEO Elfren Antonio Sarte was quoted as saying ‘this is a good opportunity to augment RBC’s captured niche markets and consolidate that with the BPI ecosystem.’

‘This merger is a testament to the mutual respect and excellent business relationship between the Gokongwei Group and Ayala Group. We will work with BPI to ensure a smooth transition and integration of our clients and operations into BPI. Together, we will maintain quality banking services and offer additional top-notch and innovative products to all RBC customers,’ Sarte was quoted as saying in the article.

. . . .

Another industry source said the transaction benefits the Gokongwei Group as the book value of BPI, the basis for the swap-share arrangement, is triple that of RBC, which is not listed in the Philippine Stock Exchange (PSE).

The source added that BPI is after the digital banking license of GoTyme Bank, which was one of the six entities awarded digital banking licenses by the BSP. The Gokongweis own a 60 percent stake in GoTyme while Singapore-based digital banking group has the remaining 40 percent.

‘I think that is why BPI is after Robinsons Bank is because of GoTyme,’ the source said.

. . . .”

Please be informed that the Bank of the Philippine Islands (“BPI”) are in the preliminary stage of discussions with Robinsons Retail Holdings, Inc. and JG Summit Capital Services Corp. on a potential collaboration between BPI and Robinsons Bank Corporation.

Further disclosures will be made as appropriate in accordance with the regulatory guidelines.
Other Relevant Information

Please see the attached JGS SEC Form 17-C Current Report.
Filed on behalf by:
Name Maria Celia Fernandez-Estavillo
Designation Senior Vice President, General Counsel and Corporate Secretary