SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

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)

Nov 13, 2019

2. SEC Identification Number

77487

3. BIR Tax Identification No.

000-388-771

4. Exact name of issuer as specified in its charter

JOLLIBEE FOODS CORPORATION DOING BUSINESS UNDER THE NAME AND STYLE OF JOLLIBEE

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10/F JOLLIBEE PLAZA BUILDING, 10 F. ORTIGAS JR. AVENUE, ORTIGAS CENTER, PASIG CITY Postal Code 1605

8. Issuer's telephone number, including area code

(632) 8634-1111

9. Former name or former address, if changed since last report

-

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	1,097,086,263
TREASURY	16,447,340

11. Indicate the item numbers reported herein

-

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.

Jollibee Foods CorporationJFC

PSE Disclosure Form 4-22 - Joint Ventures References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Jollibee Foods Corporation (JFC) and Dim Sum Pte. Ltd. (DSPL) Signs Agreement to Expand and Operate the Tim Ho Wan Brand in China.
Background/Description of the Disclosure
Golden Plate Pte. Ltd. (GPPL), a wholly owned subsidiary of JFC, and DSPL executed a Joint Venture Agreement to establish a joint venture company (the “JV”) to be incorporated in the People’s Republic of China (PRC). The JV shall sign a Unit Franchise Agreement with Tim Ho Wan Pte. Ltd. (“Franchisor”), authorized master franchisor of Tim Ho Wan in the Asia-Pacific, to develop and operate Tim Ho Wan stores in Shanghai and such other cities within the PRC as may be agreed with the Franchisor.

Date of Approval by Board of Directors	Nov 13, 2019
Date of Approval by Stockholders, if applicable	N/A

Description and nature of the transaction including the timetable for implementation, and related regulatory requirements
• Signing of Joint Venture Agreement on November 13, 2019 • Incorporation of JV after signing of Joint Venture Agreement • Signing by JV of Unit Franchise Agreement (“UFA”) after incorporation of JV.

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The Tim Ho Wan deal provides JFC with an excellent opportunity to operate and expand one of the known Michelin-starred dim sum restaurant chain brands.

Terms and conditions of the joint venture

Amount of investment and/or interest by the parties involved
• 60% GPPL; 40% DSPL • up to USD 13 Million, of which up to USD 7.8 Million will be contributed by GPPL in proportion to its ownership in the business.
Provisions on profit-sharing, arrangements on management and operations
• 60% GPPL; 40% DSPL. The JV shall have its own resources and personnel to operate and manage the business.
Conditions precedent to closing of transaction, if any
• Incorporation of JV • Signing of UFA
Other salient features of the joint venture agreement
N/A

Identity and/or corporate background of the parties to the transaction, including the following

Name	Nature of Business	Nature of any material relationship with the Issuer and the parties to the joint venture, their directors/officers or any of their affiliates
Golden Plate Pte. Ltd.	Investments	Wholly owned subsidiary of JFC
Dim Sum Pte. Ltd.	Restaurants	None

Effect(s) on the business, financial condition and operations of the Issuer, if any
The Tim Ho Wan deal provides JFC with an excellent opportunity to operate and expand one of the known Michelin-starred dim sum restaurant chain brands. The JV is not expected to have an immediate material impact on the JFC Group’s sales, profitability and balance sheet as it is not planning for an aggressive expansion in 3 to 5 years. The first few years will be focused on developing and building the store model and economics.
Other Relevant Information
Please see attached Press Release.