C03699-2025 |
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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Sale of Jollibee Foods Corporations' 30% shareholding in C-Joy Poultry Realty, Incorporated |
Background/Description of the Disclosure |
On 26 May 2025, Jollibee Foods Corporation ("JFC") executed a Share Purchase Agreement and Deed of Assignment to sell its shares in C-Joy Poultry Realty, Incorporated (the "Company") equivalent to thirty percent (30%) of the Company’s issued and outstanding shares to Agrotex Commodities, Inc. for a total price of PhP 33,880,321.00. |
Date of Approval by Board of Directors |
May 26, 2025 |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
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The divestment is aligned with JFC’s strategic shift toward an asset-light business model, enabling greater capital efficiency and sharper focus on scalable, high-return investments. |
Date | May 26, 2025 |
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Manner |
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Execution of a Share Purchase Agreement and Deed of Assignment |
Description of the company to be acquired or sold |
C-Joy Poultry Realty, Incorporated owns the land on which the facilities of C-Joy Poultry Meats Production, Incorporated are situated. |
Number of shares to be acquired or disposed | 113,250 |
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Percentage to the total outstanding shares of the company subject of the transaction | 30 |
Price per share | PhP 299.16 |
Nature and amount of consideration given or received |
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PhP 33,880,321.00 |
Principle followed in determining the amount of consideration |
Approximately 15% internal rate of return on JFC's Investment on C-Joy Poultry Realty, Incorporated |
Terms of payment |
Payment shall be made on May 26, 2025. |
Conditions precedent to closing of the transaction, if any |
The transaction is subject to standard conditions precedent. |
Any other salient terms |
None |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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Agrotex Commodities, Inc. | N/A |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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JFC will fully divest its interest in C-Joy Poultry Realty, Incorporated while retaining its 30% stake in C-Joy Poultry Meats Production, Incorporated. |
Other Relevant Information |
Please see attached SEC Form 17-C. |
Name | VALERIE AMANTE |
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Designation | Global Chief Legal, Ethics, and Compliance Officer Jollibee Group |