May 12, 2023
SECURITIES AND EXCHANGE COMMISSION Attn.: Vicente Graciano P. Felizmenio, Jr. Director, Markets & Securities Regulation Department 7907 Makati Avenue, Salcedo Village, Barangay Bel-Air, Makati City, 1209
THE PHILIPPINE STOCK EXCHANGE, INC. Attn.: France Alexandra D. Tom Wong Officer-in-Charge – Disclosure Department 6/F PSE Tower, 5th Avenue corner 28th Street Bonifacio Global City, Taguig City
Gentlemen:
Please be advised that, during the special board meeting of the Board of Directors of CENTURY PROPERTIES GROUP, INC., (the “Company”) held on May 12, 2023, the Board of Directors of the Company approved the redemption of the Cumulative, Non-Voting, Non-Convertible, Non-Participating, Redeemable Peso-denominated Preferred Shares (“Preferred Shares” or “CPGP”) issued by the Company and listed on the Philippine Stock Exchange (“PSE”) on January 10, 2020.
In accordance with the terms and conditions of the issuance of the Preferred Shares, as provided in the Prospectus dated December 12, 2019 (the “Prospectus”):
The Company may redeem the Offer Shares in whole (and not in part) on the sixth (6th) month of the third (3rd) anniversary of the Issue Date or on any Dividend Payment Date thereafter (each an “Optional Redemption Date”), after giving each of the Registrar and Paying Agent prior written notice of not less than 30 days nor more than 60 days from the intended date of redemption, which notice shall be irrevocable and binding upon the Company to effect such optional redemption
The redemption price for the Preferred Shares shall be at Php100.00 per share, pursuant to the terms set out in the Prospectus, and shall be paid in check on July 10, 2023 to the relevant shareholders of record as of July 5, 2023. The redeemed shares will be recorded as treasury stock of the Company and shall be retired.
To summarize, the following are the key dates in respect of the redemption of the Preferred Shares:
Ex-Date June 30, 2023 Record Date July 5, 2023 Payment Date July 10, 2023 Release of check payments starting [July 10, 2023]
The Company shall issue a Notice of Redemption (through Stock Transfer Services, Inc. and the PCD Nominee Corporation) for guidance of the holders of the Preferred Shares, with respect to the procedure and documentary requirements for the redemption.
Thank you very much.
Very truly yours,
MR. PONCIANO S. CARREON, JR. Chief Financial Officer |