C08864-2020 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 201,057,609 |
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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Termination of Asset Management Agreements effective December 31, 2020 |
Background/Description of the Disclosure |
The Registrants announces the termination of the Asset Management Agreements ( the "Agreements") that it executed with Gallipoli Real Estate, Inc, Ortigia Property Holdings, Inc., Melbury Property Holdings, Inc. and Gallipoli Two Real Estate, Inc. involving certain commercial units located across Metro Manila effective December 31, 2020. The Agreements will be terminated by said clients because of the financial challenges brought by the COVID-19 pandemic. The termination of the agreements is expected to result in a decrease of the projected revenue of the Registrant by twelve (12%) percent for the year 2021. |
Other Relevant Information |
None |
Name | John Catindig |
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Designation | Chief Information Officer and Compliance Officer |