C05006-2023

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 26, 2023
2. SEC Identification Number
168063
3. BIR Tax Identification No.
000-065-142-000
4. Exact name of issuer as specified in its charter
PRYCE CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
17F Pryce Center 1179 Don Chino Roces corner Bagtikan Street, San Antonio Village, Makati City Postal Code 1203
8. Issuer's telephone number, including area code
(+632) 8899 4401
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 1,895,690,169
Treasury 128,809,831
11. Indicate the item numbers reported herein
Item 9

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.

Pryce CorporationPPC

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 in The Manila Times entitled “Pryce to start building air separation facility”
Source The Manila Times (Online Edition)
Subject of News Report Pryce to start building air separation facility
Date of Publication Jun 26, 2023
Clarification of News Report

“INDUSTRIAL firm Pryce Corp. will soon begin construction of an air separation plant for its oxygen business, which when completed is expected to boost profit margins in the coming years.

Pryce chairman and CEO Salvador Escaño told The Manila Times last Friday that construction of the facility, located in Mambatangan, Cagayan de Oro, would start in the next few weeks.

‘Construction is expected to be finished by the end of this year and [the facility should] be operational by around the early [part] of the first quarter of 2024,’ he added.

‘The cost to put up the plant was around P1 billion, which also includes the distribution facilities and other things as well.’

. . . .

The plant will have a daily production capacity of 7,200 cylinders of oxygen, 1,500 cylinders of nitrogen, and 200 cylinders of argon. Given its scale, the facility is expected to help boost the company's profit margin in the coming years.

. . . .

‘In theory, that will be in our favor because we are one of the branded cylinders. Because of this, we presume that our business will grow by 2 to 3 percentage points in the coming years,’ he added.

. . . .”
Other Relevant Information

Pryce Corporation confirms the following, to wit:

1. The construction of air separation plant in Mambatangan, Cagayan de Oro for the company’s oxygen business amounts to about Php1 Billion, inclusive of the distribution and logistical facilities, such as cylinders and trucks;

2. The said plant is expected to be operational by around the first quarter of 2024; and

3. The company’s industrial gas business will grow by 2 to 3 percentage points in the coming years because of the said plant.

We wish to further explain that the air separation plant is a project of, and is owned by, Pryce Gases, Inc — a subsidiary of Pryce Corporation.

The foregoing information was discussed under the agenda item “Other matters” during the Annual Stockholders Meeting held on June 23, 2023 at The City Club Ballroom, Alphaland Makati Place.

The above information contains forward looking statements that are based on certain assumptions of the management and are subject to risks and opportunities or unforeseen circumstances.
Filed on behalf by:
Name PAUL VINCENT CASILLA
Designation ALTERNATE COMPLIANCE OFFICER