C04694-2021

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)
Jul 7, 2021
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
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 1,109,566,917
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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

JFC to Invest Its Land Properties to a Planned REIT Company
Background/Description of the Disclosure

Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, announced today, July 7, 2021, that its Board of Directors has approved a plan to use certain parcels of its land properties worth about Php2.0 billion and Php1.9 billion in cash as investments in CentralHub Industrial Centers (CH), Inc., a company in the industrial real estate business.

The CentralHub Industrial Centers intends to eventually register and operate as a REIT (Real Estate Investment Trust), with a planned initial public offering (IPO) in 2022.

JFC Chairman and Founder, Mr. Tony Tan Caktiong gave the following statement: “JFC’s plan is to reduce assets tied to real estate properties by converting some of them into securities in REIT and by selling others directly to third parties. We will use the proceeds from the eventual IPO of CentralHub to finance real estate investments for our new stores and commissaries which we will convert again into more investments and shares in the REIT. Basically, the REIT will help continuously finance our future expansion while the REIT will keep growing in the years ahead allowing more public investors to buy more REIT shares. This is a more cost-effective way of financing versus owning or pure leasing of properties due to the cash dividends JFC will receive from the REIT which will include the benefits and incentives provided by law to the REIT. The CentralHub will have its own property and fund managers who are separate from JFC. This will allow JFC to focus on growing its core business in food service, restaurant operations and food processing. We will continue to focus on our core business. We are also very pleased to be a contributor to the growth of the economy, the real estate industry and the capital markets through our investments in the REIT.”

CentralHub is in the business of developing industrial warehouse complexes that will contain standardized, multi-use, and industrial quality warehouses suited for commissaries, cold storage and logistics centers to be leased to locators operating nationwide. CentralHub was incorporated and registered with the Philippine Securities and Exchange Commission (SEC) on August 31, 2017 to act as the industrial leasing segment of DoubleDragon (DD).

The JFC Board has approved the cash subscription by JFC to 1,564,410,000 common shares of CentralHub. As part of its investment plan, JFC intends to make an asset infusion into CentralHub in exchange for additional common shares of CentralHub. The assets for infusion shall be valued based on the appraisal report of an independent appraisal company engaged by JFC.

The completion of the foregoing transactions is subject to, among others, JFC securing the necessary regulatory approvals, including the approval by the SEC of the amendment to the primary purpose clause of JFC under its Articles of Incorporation, to clearly and expressly set forth its authority to invest in, acquire, own and use real and personal properties, of every kind and description when such investments are done pursuant to the business objectives of the Company. The foregoing amendment was recently approved by the stockholders of JFC at its Annual Stockholders’ Meeting held last 25 June 2021.

CentralHub intends to eventually register and operate as a REIT, and list its shares on the Philippine Stock Exchange, Inc. The timing for the registration of the REIT initial public offering and the filing of the application for the REIT listing of CentralHub will be subject to the agreement of JFC and DD, and the parties having secured the necessary regulatory approvals therefor.
Other Relevant Information

Please see attachment.
Filed on behalf by:
Name VALERIE AMANTE
Designation VICE-PRESIDENT