| C06524-2024 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common | 3,933,840,480 | |
| Perpetual Preferred 1 | 370,398,637 | |
| Perpetual Preferred 2 - Series A | 100,000,000 |
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| Subject of the Disclosure |
|---|
Alternergy Holdings Corporation ("ALTER") approves to acquire shares of Triple Play Land Corporation ("Triple Play") |
| Background/Description of the Disclosure |
In a meeting held today, 25 September 2024, the Board of Directors of Alternergy Holdings Corporation ("ALTER") approved to purchase twenty five thousand (25,000) Common shares so as to own one hundred percent (100%) of the issued and outstanding capital stock of Triple Play Land Corporation (“Triple Play”), a corporation with a primary purpose to purchase or otherwise acquire, own, hold, use, sell, assign, transfer, mortgage, pledge, exchange or otherwise dispose of real property. |
| Date of Approval by Board of Directors |
Sep 25, 2024 |
|---|
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
|---|
ALTER intends to have an entity that will hold, or otherwise own or lease, the land that ALTER's project companies can utilize for their respective projects. |
| Date | Oct 11, 2024 |
|---|
| Manner |
|---|
Shares were purchased through the execution of Deed/s of Sale of Shares of Stock between ALTER and Triple Play's incorporators. |
| Description of the company to be acquired or sold |
Triple Play is a real estate corporation engaging in real estate activities with owned or leased property, incorporated on 16 May 2024. |
| Number of shares to be acquired or disposed | 25,000 |
|---|---|
| Percentage to the total outstanding shares of the company subject of the transaction | 100 |
| Price per share | 1.00 |
| Nature and amount of consideration given or received |
|---|
Cash payment amounting to PhP25,000.00 |
| Principle followed in determining the amount of consideration |
Shares to be purchased at par. |
| Terms of payment |
One-time payment in full upon execution of the Deed/s of Sale of Shares of Stock |
| Conditions precedent to closing of the transaction, if any |
NA |
| Any other salient terms |
NA |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
Acquiring Triple Play will enable ALTER to consolidate all the real estate needs of all its project companies. |
| Other Relevant Information |
Please see attached SEC Form 17-C filed via email with the SEC relating to the matter. |
| Name | Kimberly Rose Pagdilao |
|---|---|
| Designation | Corporate Counsel / Deputy CIO |