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
2,064,839,617
11. Indicate the item numbers reported herein
Please refer to the attached letter addressed to the PSE and the SEC
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.
Manila Water Company, Inc.MWC
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
Clarification of News Article
Source
Inquirer.net
Subject of News Report
“MWSS revokes extension of Maynilad, Manila Water concession deals”
Date of Publication
Dec 11, 2019
Clarification of News Report
Gentlemen:
We reply to your request for comments and/or clarification on the news article entitled “MWSS revokes extension of Maynilad, Manila Water concession deals” posted in Inquirer.net on December 11, 2019. The news article reported in part that:
“MANILA, Philippines — The Metropolitan Waterworks and Sewerage System (MWSS) has revoked the extension of concession agreements of both Manila Water Company, Inc. and Maynilad Water Services, Inc., the two firms distribute water in Metro Manila and adjacent provinces.
MWSS Deputy Administrator for Engineering Leonor Cleofas revealed the cancellation of the extension during the joint House of Representatives hearing of the good government and public accountability and public accounts committees.
The extension of the concession agreements until 2037 was approved by the MWSS in a board resolution in 2009.
Due to the revocation, however, the water firms’ concession will end in 2022.
‘The new board, based on the recent directive of the President on the Cabinet meeting, they are now revoking the board resolution, Cleofas said.
She added that the decision to revoke the extension was made during an MWSS board meeting last Friday, December 5.
Officials of Manila Water and Maynilad said they only received the notice of the revocation on Wednesday.
. . . .”
Our Company confirms that we received this morning a letter from the Metropolitan Waterworks and Sewerage System (MWSS) dated 10 December 2019 informing us of its Board of Trustees Resolution No. 2019-201-CO pertaining to the “Revocation of Board Resolutions pertaining to the Renewal/Extension of Concession Period of Manila Water and Maynilad from 2022-2037”. In the same letter, MWSS requested us to submit our position within three (3) days.
Kindly note that the MWSS Board of Trustees Resolution No. 2019-201-CO revoked the prior MWSS Board of Trustees Resolution No. 2009-072-CO. The MWSS Board of Trustees Resolution No. 2019-201-CO does not revoke the extension of our Concession Agreement with MWSS from 2022 to 2037.
MWSS and our Company executed on 23 October 2009 a Memorandum of Agreement and Confirmation implementing the extension of our Concession Agreement from 2022 to 2037. The extension was approved by the President of the Republic of the Philippines.
We trust that the foregoing explanation satisfies your request for clarification.
Manila Water Company, Inc.MWC