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.
SBS Philippines CorporationSBS
PSE Disclosure Form 4-29 - Disbursement of Proceeds and Progress Report References: Memorandum No. 626 - 2007 dated December 20, 2007
Section 4.4 of the Revised Disclosure Rules
- Annual Report
- Quarterly Report
- OthersUse of SRO Proceeds/Capital Infusion in wholly owned subsidiary
| Subject of the Disclosure |
|---|
Disbursement of SRO proceeds as additional capital infusion in SBS Holdings and Enterprises Corporation ("SBS Holdings"), a wholly owned subsidiary of the SBS Philippines Corporation ("Company") |
| Background/Description of the Disclosure |
On December 22, 2017, following receipt of the proceeds from the Company's Stock Rights Offering ("SRO"), the Company disbursed the total amount of Seven Hundred Seventy Four Million Six Hundred Eighty Seven Thousand Five Hundred Pesos (PhP774,687,500.00) of the SRO proceeds to SBS Holdings for the payment of the balance of the subscription price of the 1,574,687,500 common shares subscribed by the Company in the increase of the authorized capital stock of SBS Holdings. The SRO funds received by SBS Holdings will be used for property acquisitions and investment in companies owning prime properties, and/or their development. |
| Other Relevant Information |
The disbursement is in accordance with the planned use and timing for the utilization of the SRO proceeds as stated in the SRO Prospectus dated November 17, 2017. |
| Name | REGINA SIMONA DE GUZMAN |
|---|---|
| Designation | GENERAL COUNSEL & COMPLIANCE OFFICER |