| C08920-2025 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common Shares | 39,951,435,064 | |
| Series A Preferred Shares | 8,341,500 | |
| Series B Preferred Shares | 16,658,500 |
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ACEN CORPORATIONACEN| Subject of the Disclosure |
|---|
Subscription by ACEN to shares in ENEX Energy Corp. |
| Background/Description of the Disclosure |
Further to the Board’s approval on March 11, 2024 of ACEN’s subscription to the preferred shares of ENEX Energy Corp. (“ENEX”), the Company executed a subscription contract with ENEX covering the Company’s subscription to 17,400,000 non-voting preferred shares, with a par value of Php1.00 per share, for an aggregate subscription price of Php17,400,000.00 (the “Subscription Price”). The shares will be issued from ENEX’s unissued authorized capital stock. |
| Date of Approval by Board of Directors |
Mar 11, 2024 |
|---|
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
|---|
The Subscription Price will be used to fund the operational requirements of ENEX. |
| Date | Dec 26, 2025 |
|---|
| Manner |
|---|
Subscription to non-voting Preferred Shares. |
| Description of the company to be acquired or sold |
ENEX is a listed company, and its primary purpose is to engage in the business of oil and gas exploration and production, both domestically and internationally. ACEN is the principal stockholder of ENEX. |
| Number of shares to be acquired or disposed | 17,400,000 |
|---|---|
| Percentage to the total outstanding shares of the company subject of the transaction | 1.3 |
| Price per share | Php1.00 |
| Nature and amount of consideration given or received |
|---|
Full payment of the Subscription Price. |
| Principle followed in determining the amount of consideration |
Subscription at par value. |
| Terms of payment |
Cash payment. |
| 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 | |
|---|---|---|
| ENEX Energy Corp. | Subsidiary of the Company. |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
Additional investment in a subsidiary. |
| Other Relevant Information |
This disclosure is related to Disclosure Report Nos. C01359-2024, C02673-2024 and C04443-2024 dated March 12, 2024, May 2, 2024 and July 2, 2024, respectively. |
| Name | Candy Dacanay-Datuon |
|---|---|
| Designation | Assistant Vice President |