C07059-2023

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)
Sep 20, 2023
2. SEC Identification Number
CS200321240
3. BIR Tax Identification No.
227-599-320-000
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) 2314870
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 3,465,201,467
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 4-22 - Joint Ventures References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

CLI enters into a new Joint Venture with NTTUDA for a premium grade residential tower in Cebu
Background/Description of the Disclosure

This is to inform the exchange that Cebu Landmasters Inc (CLI) has entered into a Joint Venture Agreement with NTT UD Asia Pte. Ltd. (NTTUDA) yesterday, September 20, 2023 ,to develop premium-grade residential towers in the heart of Cebu City. This is also to disclose to the exchange that both companies are now preparing formal notifications to the Philippine Competition Commission (PCC) and intend to secure PCC clearance for the new joint venture company which shall be known as CLI NUD Ventures, Inc.

Cebu Landmasters, Inc. is the leading real estate developer in the Visayas and Mindanao regions with over 116 developments across 16 major Vismin locations. To-date, CLI has a residential portfolio encompassing over 37,000 units worth Php 122 Billion that are 90% sold over-all as of H2 2023. This includes its award-winning Premier Masters, Garden-Series, Casa Mira, and Villa Casita Residential offerings.

NTTUDA was established as an international developer of commercial properties which include office buildings, residences, and other mixed-use developments in South East Asia.
Date of Approval by Board of Directors Aug 24, 2023
Date of Approval by Stockholders, if applicable N/A
Description and nature of the transaction including the timetable for implementation, and related regulatory requirements

The joint venture will develop premium-grade residential towers in the heart of Cebu City. Both companies are now preparing formal notifications to the Philippine Competition Commission (PCC) and intend to secure PCC clearance for the new joint venture company which shall be known as CLI NUD Ventures, Inc.
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

By combining the partners' expertise and resources -- CLI with its mastery of the local real estate industry and NTTUDA with its experience developing mixed-use properties abroad -- both partners expect this joint venture to do well and open opportunities for other collaborations.
Terms and conditions of the joint venture
Amount of investment and/or interest by the parties involved

To be disclosed upon incorporation of the joint venture company.
Provisions on profit-sharing, arrangements on management and operations

CLI- 60%
NTTUDA- 40%
This is in keeping with legal restrictions on foreign ownership of real estate companies.
Conditions precedent to closing of transaction, if any

PCC clearance prior to incorporation of the joint venture company.
Other salient features of the joint venture agreement

To be disclosed upon incorporation of the joint venture company.
Identity and/or corporate background of the parties to the transaction, including the following
Name Nature of Business Nature of any material relationship with the Issuer and the parties to the joint venture, their directors/officers or any of their affiliates
NTT UD Asia Pte. Ltd Real Estate None
Effect(s) on the business, financial condition and operations of the Issuer, if any

to generate substantial profits and enhance CLI's cash flow through successful project development.
Other Relevant Information

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Filed on behalf by:
Name Clarissa Mae Cabalda
Designation Corfin/Investor Relations Manager