C01367-2025 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Stock | 2,499,712,463 |
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.
Subject of the Disclosure |
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Legal Proceedings |
Background/Description of the Disclosure |
On March 4, 2025, FOOD received the February 20, 2025 Decision of the Court of Appeals Thirteenth Division stating that the 1,382,765,864 FOOD shares acquired by Strongoak, Inc. under the 2014 Private Placement and 2015 Stock Rights Offering, are exempt from the requirement of tender offer. Accordingly, the Decision dated December 15, 2022 of the Securities and Exchange Commission En Banc in SEC En Banc Case No. 07-22-501, was reversed and set aside. Judgment was rendered dismissing for lack of merit, the Complaint filed by Hedy S.C. Yap Chua, et. al., before the SEC Markets Securities Regulation Division in SEC MSRD Case No. MSRD-SRD-2021-1. |
Name of the court or agency in which the proceedings are pending | Securities and Exchange Commission |
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Date Instituted | Nov 2, 2020 |
Docket Number | SEC En Banc Case No. 07-22-501 (SEC MSRD Case No. MSRD-SRD-2021-1) |
Principal Parties |
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Hedy S. C. Yap Chua, Harvest All Investment Limited, Victory Fund Limited, and Bondeast Private Limited v. Alliance Select Foods International, Inc. |
Nature and description of the legal proceedings |
Complainants alleged that the private placement of shares made on May 5, 2014 and the Stock Rights Offer conducted by the Company in 2015 are null and void because it supposedly violated Section 19 of the Securities Regulation Code. |
The effect(s) on the Issuer's business or operations, if any |
The Appellate Court’s Decision in FOOD’s favor, has no prejudicial impact on the business operations of FOOD. |
Other Relevant Information |
Please see attached SEC Form 17-C. |
Name | Maria Resa Celiz |
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Designation | Assistant Corporate Secretary and Chief Compliance Officer |