SECURITIES AND EXCHANGE COMMISSION
SEC 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 3, 2015
- 2. SEC Identification Number
- 1093
- 3. BIR Tax Identification No.
- 000-531-126-000
- 4. Exact name of issuer as specified in its charter
- Centro Escolar University
- 5. Province, country or other jurisdiction of incorporation
- Philippines
- 6. Industry Classification Code(SEC Use Only)
- 7. Address of principal office
- 9 Mendiola St. San Miguel, Manila Postal Code 1005
- 8. Issuer's telephone number, including area code
- (02)7356861 to 71
- 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 CEU 372,414,400 - 11. Indicate the item numbers reported herein
- N/A
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.
Centro Escolar UniversityCEU
PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
|---|
Purchase of Land, Building and Improvements |
| Background/Description of the Disclosure |
In its Special Board Meeting held today September 2, 2015, the Board approved the purchase of Land, Building and Improvements own by Dr, Luz Co Uy, Jane Katherine Uy Go and MArchall David Uy located in Almanza, Las Piñas.. |
| Date of Approval by Board of Directors |
Sep 2, 2015 |
|---|
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction | |
|---|---|
To expand school operation. |
| Date | Sep 2, 2015 |
|---|
| Description of the Transaction |
|---|
Acquisition of land, building and improvements in Almanza, Las Piñas whereas the Las Piñas College is located. |
| Manner |
Purchase of Land, Building and Improvements |
| Description of the assets involved |
The Land with total lot area of approximately 13,852 square meters, Building and Improvements is Located in Almanza, Las Piñas whereas the Las Piñas College, Inc. is Located. |
| Nature and amount of consideration given or received |
|---|
Total consideration is P196,000,000.00 more or less. |
| Principle followed in determining the amount of consideration |
Mutual agreement of both party/Fair market value, location and material importance to the buyer. |
| Terms of payment |
Full payment until March 31, 2016 |
| Conditions precedent to closing of the transaction, if any |
That the property is clean and free from any lien and encumbrance. |
| Any other salient terms |
None |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
The acquisition is in line with CEU business operation and will open an opportunity for school expansion. |
| Other Relevant Information |
This is in relation with the Material Information/Transactions of the company submitted to the Exchange dated |
| Source(s) of funds |
|---|
Internally generated cash fund. |
| If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes |
N/A |
| Name | LAMBERTO TOBIAS |
|---|---|
| Designation | DIVISION HEAD |