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 28, 2022

2. SEC Identification Number

CS200900917

3. BIR Tax Identification No.

007213353000

4. Exact name of issuer as specified in its charter

ITALPINAS DEVELOPMENT CORPORATION

5. Province, country or other jurisdiction of incorporation

Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Unit 28C BPI Philamlife Building, 6811 Ayala Avenue, Makati City Postal Code 1227

8. Issuer's telephone number, including area code

(632)88930328

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	629,568,795

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.

Italpinas Development CorporationIDC

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
Authority to issue up to 20% of the Corporation’s unissued shares and delegation of the power to set the Private Placement parameters to the Board of Directors.
Background/Description of the Disclosure
The Board of Directors approved on September 28, 2022 the issuance of shares up to 20% of the Corporation’s unissued shares for the acquisition of properties for future projects through private placements, and to seek shareholder approval for the delegation of power to the Board to perform the following acts in accordance and further to any such private placement transaction: (i) to determine the subscriber/s for the private placement shares; (ii) to determine the number of private placement shares to be issued, provided that such shall not exceed twenty percent (20%) of the corporation’s authorized capital stock; (iii) to determine the subscription price at which the private placement shares shall be issued; (iv) to determine the manner and form of payment; and (v) other financial terms.
Other Relevant Information
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