C03988-2021
Ex-Date : Jun 15, 2021

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)
Jun 7, 2021
2. SEC Identification Number
CS200321240
3. BIR Tax Identification No.
227599320
4. Exact name of issuer as specified in its charter
CEBU LANDMASTERS, INC.
5. Province, country or other jurisdiction of incorporation
CEBU CITY, CEBU, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10TH FLOOR, PARK CENTRALE, B2 L3, JOSE MA. DEL MAR ST., CEBU IT PARK, APAS, CEBU CITY Postal Code 6000
8. Issuer's telephone number, including area code
(032) 2314914
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 1,555,000,000
11. Indicate the item numbers reported herein
other items

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.

Cebu Landmasters, Inc.CLI

PSE Disclosure Form 6-2 - Declaration of Stock Dividends References: SRC Rule 17 (SEC Form 17-C) and
Sections 6 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

DECLARATION OF STOCK DIVIDENDS
Background/Description of the Disclosure

The Board of Directors of Cebu Landmasters, Inc. (“CLI” or the “Company”) at its meeting held on 24 November 2020 approved the declaration of stock dividend of 122% on the outstanding capital stock of CLI or a total of 1,900,000,000 shares of common stock, to be issued out of the unrestricted retained earnings of the Corporation as of 30 September 2020, which stock dividends shall be sourced from the increase in authorized capital stock of the Corporation, and payable to stockholders of record as of a record date to be fixed and approved by the Securities and Exchange Commission (the “Commission”) after necessary approval and endorsement by the Commission shall have been secured, on such payment date as shall be fixed by the Board of Directors of the Corporation together with or after the fixing and approval of the record date.

During the Special Stockholders' meeting held on 26 February 2021, the board has presented to the stockholders for approval to distribute 1,912,649,508 new common shares as stock dividends which was duly approved by the stockholders during the special meeting. Further, the proposal entails the following:
- Stockholders on record will receive 123 shares for every 100 block of shares.
- Stock dividends is in lieu of cash payment from existing stockholders to subscribe the minimum requirement of 25% increase in authorized capital stock.

The company has received the SEC approval for the increase in authorized capital last May 21, 2021. The certification of approval is attached in this disclosure template.

Yesterday, May 26, 2021, CLI has received the order from SEC approving the record date on June 18, 2021.

The payment date will be on or before 14 July 2021, simultaneous with the listing date that is subject to the approval of the PSE. There will be no fractional shares that will be issued and no shareholder will be entitled to any fractional shares resulting from the stock dividends.

Type of Securities

Stock Dividend
Date of Approval by Board of Directors Nov 24, 2020
Date of Approval by Stockholders Feb 26, 2021
Other Relevant Regulatory Agency, if applicable N/A
Date of Approval by Relevant Regulatory Agency, if applicable N/A
Date of Approval by Securities and Exchange Commission May 21, 2021
Stock Dividend Rate

123%
Source of Dividend Payment

To be paid out of unrestricted retained earnings as of 30 September 2020.
Source of Shares for Distribution
To be taken from the unissued capital stock
Number of Shares to be Issued : -
To be taken from an increase in authorized capital stock
From: 2,500,000,000

To:10,100,000,000

Number of Shares to be Issued : 1,912,649,508
Others:
-
Number of Shares to be Issued : -
Record Date Jun 18, 2021
Payment Date Jul 14, 2021
Other Relevant Information

The filing is amended to indicate the payment date of the stock dividend and the treatment of fractional shares.
Filed on behalf by:
Name Clarissa Mae Cabalda
Designation Corfin/Investor Relations Manager