C01537-2024

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)
Mar 18, 2024
2. SEC Identification Number
A1999-04864
3. BIR Tax Identification No.
204-636-102
4. Exact name of issuer as specified in its charter
Bloomberry Resorts Corporation
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
The Executive Office, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Barangay Tambo, Parañaque City Postal Code 1701
8. Issuer's telephone number, including area code
+632 88838920
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
Unclassified Shares 11,430,368,194
11. Indicate the item numbers reported herein
Item (9) Other Events

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.

Bloomberry Resorts CorporationBLOOM

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

Bloomberry Resorts Corporation hereby discloses that its subsidiaries Sureste Properties Inc. and Bloomberry Resorts and Hotels Inc. have reached an agreement for a universal settlement of their dispute with GGAM.
Background/Description of the Disclosure

Bloomberry Resorts Corporation (BLOOM) hereby discloses that its subsidiaries Sureste Properties Inc. (SPI) and Bloomberry Resorts and Hotels Inc. (BRHI) have reached an agreement for a universal settlement of their dispute with GGAM.

The universal settlement will cover all the pending cases between the parties including the following:

A) Case filed by GGAM in the US District Court of the Southern District of New York against Mr. Enrique K. Razon Jr., SPI and BRHI with docket no. 21-CV-2655(LGS)-(SN) to enforce an arbitral award;

B) SP. PROC. M-7567, “Bloomberry Resorts and Hotels Inc., Sureste Properties Inc. and Prime Metroline Holdings Inc. vs. Global Gaming Philippines LLC, et al.”, an injunction and attachment case filed by SPI, BRHI and Prime Metroline Holdings Inc. (now Prime Strategic Holdings Inc.) before the RTC of Makati Br. 66;

C) G.R. No. 243314, “Global Gaming Philippines LLC vs. Bloomberry Resorts and Hotels, Inc., Sureste Properties, Inc., Prime Metroline Holdings, Inc. and Deutsche Bank AG, Manila Branch”, a certiorari case filed by GGAM in the Philippine Supreme Court questioning the decision of the Court of Appeals which affirmed the order of the RTC Makati affirming the validity of the writ of preliminary attachment and writ of preliminary injunction that it issued over the shares in BLOOM held by GGAM;

D) The Arbitral Award issued against SPI and BRHI in favor of GGAM and GGAM Netherlands relating to the termination of GGAM’s Management Services Agreement with SPI and BRHI;

E) The judgment of various Singapore Courts relating to the confirmation of the Arbitral Award in favor of GGAM and GGAM Netherlands against BRHI and SPI.

The settlement with GGAM requires SPI to purchase the 921,184,056 shares in BLOOM held by GGAM for a total purchase price of USD 300 Million. At the conversion rate of PHP 56 to USD 1.00, this agreed purchase price will amount to PHP 18.32 per share. This purchase will be made through a Special Block Sale through the Philippine Stock Exchange (PSE).

The settlement is contingent on the lifting of the writ of preliminary injunction and attachment on the GGAM shares in BLOOM issued by the RTC of Makati, as well as the PDTC lifting of all suspensions and restrictions on transactions in the Shares, and PSE approval of the Special Block Sale.

This settlement will put an end to the dispute of SPI and BRHI with GGAM which has dragged on for 10 years.
Other Relevant Information

None
Filed on behalf by:
Name JONAS KHAW
Designation ASSISTANT CORPORATE SECRETARY