CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Jun 28, 2017
2. SEC Identification Number
133828
3. BIR Tax Identification No.
420-000-188-756
4. Exact name of issuer as specified in its charter
PRIMEX CORPORATION
5. Province, country or other jurisdiction of incorporation
Metro-Manila
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
G/F Richbelt Terraces 19 Annapolis Street, Greenhills, San Juan CityPostal Code1502
8. Issuer's telephone number, including area code
(632) 722-8078
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares
1,661,666,665
11. Indicate the item numbers reported herein
9
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.
Primex CorporationPRMX
PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Clarfification of statements reported in the Business Mirror (internet)
Source
Business Mirror
Subject of News Report
Reported plans of the Issuer (Primex Corporation)
Date of Publication
Jun 26, 2017
Clarification of News Report
The following is an itemized clarification of a news report from the Businss Mirror. Statements in quote are from the report. Clarifications are prefixed by a bullet:
“PRIMEX Corp., a boutique property developer, is venturing into the serviced-apartments sector as it tries to grow its recurring income on top of leasing some of its spaces on its soon-to-be-completed projects. • The company is contemplating to venture into the serviced-apartment sector to grow its recurring income on a soon-to-be contemplated Stratosphere project in Salcedo Village, Makati.
“Ernesto Ang, the company’s chairman and president, said the serviced apartments will be located near the exclusive schools in Greenhills, San Juan. • Mr. Ang was referring to two company project sites in the Greenhills, San Juan area where serviced apartments may be introducted once the company decides to proceed with the projects. The company may tap the services of noted operators.
“Aside from the serviced apartments, the company said it is earmarking P3.6 billion for the development of its 50-story Primex Tower in San Juan. Ang said the company is currently discussing with a foreign firm the development of the project into an office development that will also serve as the future headquarters of the Primex Group. • The company estimates P 3.6 billion as the cost for development of the Primex Tower. Inquiries have been received by the company from various parties, including foreign companies, who have expressed interest in the project.
“Ang said the project will cost P2.6 billion to build, while the 1,944-square-meter (sq m) lot where it will rise is valued at P1 billion. There are still tenants on the land where the tower will be built, such as a Caltex gasoline station. Ang said they already notified the current tenants to vacate the lot to enable Primex to start construction of the project possibly within the year or early 2018. • The development cost and land cost sum up to around P 3.6 billion.
“Primex is also preparing for the development of its 7-hectare lot in Tagaytay, which sits in front of the Villars’ Crosswinds development. “Ang said the company is planning to build 10 mid-rise buildings of about six floors each. • The company has received perspective designs from some design entities and most include the construction of 10 mid-rise buildings of about six floors each.
“Ang is confident of Primex’s posting high double-digit growth in its income bottomline this year from last year’s P 185.1 million, despite a slow start for the year. • The company expects to finalize some real estate transactions within the year which may result in the double-digit growth.
Other Relevant Information
Attached in PDF format is the clarification in printable form.
Primex CorporationPRMX