C07899-2023

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)
Nov 8, 2023
2. SEC Identification Number
PW-937
3. BIR Tax Identification No.
000-391-438-000
4. Exact name of issuer as specified in its charter
EEI CORPORATION
5. Province, country or other jurisdiction of incorporation
MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
NO. 12 MANGGAHAN STREET, BAGUMBAYAN, QUEZON CITY Postal Code 1110
8. Issuer's telephone number, including area code
(+632) 8-334-2677
9. Former name or former address, if changed since last report
The Issuer has not changed its address since its last report to the Honorable Commission.
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 1,036,281,485
EEIPA 15,000,000
EEIPB 45,000,000
11. Indicate the item numbers reported herein
N/A

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.

EEI CorporationEEI

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Sale of Issuer's 60% interest in its subsidiary, BiotechJP Corporation

Background/Description of the Disclosure

Today, November 7, 2023, Issuer executed a Deed of Assignment selling all of its interest in its subsidiary, BiotechJP Corporation to Earthman Consulting & Development Corporation.

Date of Approval by
Board of Directors
Sep 22, 2023
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The sale is part of the Issuer's strategy to exit from its non-core business.

Details of the acquisition or disposition
Date Nov 7, 2023
Manner

Disposition thru payment of cash consideration

Description of the company to be acquired or sold

BiotechJP Corporation, a subsidiary of the Issuer engaged in the business of manufacturing food and therapeutic food.

The terms and conditions of the transaction
Number of shares to be acquired or disposed 181,815
Percentage to the total outstanding shares of the company subject of the transaction 60
Price per share 275.00
Nature and amount of consideration given or received

Consideration is paid in cash in the total amount of PhP50,000,000.00

Principle followed in determining the amount of consideration

The consideration was determined by applying premium to the book value for the Issuer.

Terms of payment

Full payment upon execution

Conditions precedent to closing of the transaction, if any

Subject to the issuance of electronic Certificate Authorizing Registration by the BIR.

Any other salient terms

None

Identity of the person(s) from whom the shares were acquired or to whom they were sold
Name Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Earthman Consulting & Development Corporation None
Effect(s) on the business, financial condition and operations of the Issuer, if any

Upon completion of the sale, the Issuer will have completely divested all its interest in BiotechJP Corporation and will no longer be its subsidiary. Other than this, there is no other effect on the Issuer’s business, financial condition and operations.

Other Relevant Information

Please see attached Amended SEC FORM 17C.

Filed on behalf by:
Name Teresita Salazar
Designation Sr. Legal Services Officer