C00593-2016 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 8,946,450,000 |
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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Purchase of shares of stock of Philippine Wu Yi Corp. in Uni-Asia Properties, Inc. |
Background/Description of the Disclosure |
Purchase of shares of stock of Philippine Wu Yi Corp. in Uni-Asia Properties, Inc. representing 12.5% equity interest in Uni-Asia Properties, Inc. |
Date of Approval by Board of Directors |
Feb 3, 2016 |
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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 issuer will acquire 12.5% of the outstanding capital stock of Uni-Asia Properties, Inc. |
Date | Jan 28, 2016 |
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Manner |
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through Sale |
Description of the company to be acquired or sold |
Uni-Asia Properties, Inc. is a realty company owning 153 hectares, more or less, in Iloilo City |
Number of shares to be acquired or disposed | 6,250,000 |
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Percentage to the total outstanding shares of the company subject of the transaction | 12.5 |
Price per share | PhP13.60/share |
Nature and amount of consideration given or received |
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Total amount of the consideration P85,000,000.00 payable in check and subject to the terms mentioned below |
Principle followed in determining the amount of consideration |
The total actual contribution of the Seller as well as the value of the properties owned by the Seller |
Terms of payment |
50% - downpayment |
Conditions precedent to closing of the transaction, if any |
Due diligence and property verification |
Any other salient terms |
N/A |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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Philippine Wu Yi Corporation | N/A |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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The Registrant will acquire 12.5% equity interest in Uni-Asia Properties, Inc. |
Other Relevant Information |
None. |
Name | Maria Paula Romero |
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Designation | Acting Corporate Secretary |