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)
Feb 20, 2023
2. SEC Identification Number
CS200508386
3. BIR Tax Identification No.
237-383-045-000
4. Exact name of issuer as specified in its charter
BALAI NI FRUITAS INC.
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
68 DATA ST. BRGY. DON MANUEL QUEZON CITYPostal Code1113
8. Issuer's telephone number, including area code
(02)8243-1741
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
1,495,005,000
11. Indicate the item numbers reported herein
ITEM NO. 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.
Balai Ni Fruitas Inc.BALAI
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
Re-allocation on the Use of IPO Proceeds
Background/Description of the Disclosure
On February 20, 2023, the Board of Directors of Balai ni Fruitas (“BALAI”) approved the re-allocation of use of IPO proceeds, increasing the amount allocated for Commissary set-up from Php20 million to Php60 million with the Php40 million increase coming from “Store network expansion and store improvement”.
The BALAI Board approved the proposal of management, which noted that BALAI has been able to expand distribution through placement of its products in other Fruitas Holdings Community Stores and third-party partnerships. By increasing the amount allocated to commissary set-up, the Company will be able to expand capacity to serve increasing demand.
Other Relevant Information
Please refer to the attached SEC 17-C for the updated allocation of use of IPO proceeds.