| C08024-2026 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common | 1,821,542,000 |
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Solid Group, Inc.SGI| Subject of the Disclosure |
|---|
Incorporation of a joint venture company (JV Company) in Singapore by Brilliant Reach Limited (BRL) in partnership with MSRenewable Investment Holding Limited (MSR), a company with Singaporean investors |
| Background/Description of the Disclosure |
BRL will have an investment of US Dollars: Twenty Million (US$20,000,000.00.00), representing a fifty percent (50%) equity stake at the joint venture company. The JV Company will develop, own and operate a manufacturing facility in the Philippines for solar photovoltaic (PV) cells and modules, and related products, intended for export. |
| Date of Approval by Board of Directors | Nov 10, 2026 |
|---|---|
| Date of Approval by Stockholders, if applicable | N/A |
| Description and nature of the transaction including the timetable for implementation, and related regulatory requirements |
|---|
Description and nature of the transaction: The JV Company will develop, own and operate a manufacturing facility in the Philippines for solar photovoltaic (PV) cells and modules, and related products, intended for export. |
| 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 Company aims to participate in the growing markets for renewable energy products that will provide additional revenue streams and long-term growth, opportunities. |
| Amount of investment and/or interest by the parties involved |
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Total equity investment shall be US Dollars: Forty Million (US$40,000,000.00.00) of which the equity investment of BRL and MSR shall be US Dollars: Twenty Million (US$20,000,000.00.00) each with 50-50 equity stake. |
| Provisions on profit-sharing, arrangements on management and operations |
TBA |
| Conditions precedent to closing of transaction, if any |
Remittance of US Dollars: Forty Million (US$40,000,000.00.00), by BRL and MSR to the joint venture company subject to the necessary regulatory approvals. |
| Other salient features of the joint venture agreement |
N/A |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
It is expected to broaden the Company's investment portfolio with potential financial returns dependent on the successful development and operating performance of the Joint Venture. |
| Other Relevant Information |
The Board of Directors has approved a cash capital infusion of US Dollars: Eight Million (US$8,000,000.00) into SGI's wholly-owned foreign subsidiary, Brilliant Reach Limited at its meeting held today, November 10, 2026. The subsidiary will combine this amount with US Dollars: Twelve Million US$12,000,000.00 from its existing internal cash reserves, for a total investment of US Dollars: Twenty Million (US$20,000,000.00) in the joint venture company. |
| Name | Annabella Orbe |
|---|---|
| Designation | SVP & Chief Accounting Officer |