C04563-2025 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Share | 39,677,394,773 | |
Series A Preferred Shares | 8,341,500 | |
Series B Preferred Shares | 16,658,500 |
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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Subscription by ACEN CORPORATION ("ACEN") to additional shares in subsidiary Buendia Christiana Holdings Corp. |
Background/Description of the Disclosure |
ACEN signed a subscription agreement with its subsidiary, Buendia Christiana Holdings Corp. ("BCHC"), for the subscription by ACEN to an additional 875,000 common shares at P100 per share and 7,875,000 redeemable preferred shares at P100 per share, to be issued out of the authorized capital stock of BCHC. |
Date of Approval by Board of Directors |
Jun 25, 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 proceeds of ACEN’s subscription will be used by BCHC to acquire additional parcels of land for the ACEN group’s various potential power projects. |
Date | Jun 25, 2025 |
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Manner |
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Subscription to Common Shares and Redeemable Preferred Shares |
Description of the company to be acquired or sold |
BCHC is a subsidiary of ACEN and is a special purpose vehicle for land acquisition. |
Number of shares to be acquired or disposed | 8,750,000 |
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Percentage to the total outstanding shares of the company subject of the transaction | 15 |
Price per share | P100 per share |
Nature and amount of consideration given or received |
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Total Subscription Price of P875,000,000.00 |
Principle followed in determining the amount of consideration |
Subscription at par value |
Terms of payment |
Full payment in cash |
Conditions precedent to closing of the transaction, if any |
None |
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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Buendia Christiana Holdings Corp. | Subsidiary of the Company |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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The figure under “Percentage to the total outstanding shares of the company subject of the transaction” assumes SEC approval of the increase in BCHC’s authorized capital stock to up to P8.5 billion. |
Other Relevant Information |
Please refer to attached SEC Form 17-C Report of the Company. |
Name | Candy Dacanay-Datuon |
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Designation | Assistant Vice President |