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)
May 17, 2023
2. SEC Identification Number
CS200511816
3. BIR Tax Identification No.
239-508-223-000
4. Exact name of issuer as specified in its charter
8990 Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
11F Liberty Center, 104 HV Dela Costa, Salcedo Village, Makati CityPostal Code1200
8. Issuer's telephone number, including area code
(632)84789659/85333915/85333917
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
5,391,399,020
8990B
36,956,340
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.
8990 Holdings, Inc.HOUSE
PSE Disclosure Form 9-1 - Share Buy-Back Transactions References: Section 9 of the Revised Disclosure Rules
Subject of the Disclosure
8990B Share Buy Back Transaction on May 17, 2023
Background/Description of the Disclosure
8990 Holdings Inc Board of Directors approved the adoption of a buyback program on April 26, 2023 in the amount of up to Php1 billion, for the Company’s outstanding Series B Preferred Shares or equivalent to approximately 11 million shares or an estimated 29-30% of the total 37 million Series B Shares. The buyback program will be until January 31, 2024
The company is taking steps to optimize its capital structure given the current price levels of 8990B preferred shares. The buybacks will help generate savings in terms of the lower amount that needs to be set aside for any future 8990B share redemption and dividend payments.
Type of Securities
Common
Preferred8990B
OthersN/A
Details of Share Buy-Back Transaction(s)
Date of Transaction
Number of Shares Purchased
Price Per Share
May 17, 2023
31,000
93.00
31,000
Effects on Number of Shares
Before
After
Outstanding Shares
36,915,420
36,884,420
Treasury Shares
84,580
115,580
Cumulative Number of Shares Purchased to Date 1
15,580
Total Amount Appropriated for the Buy-Back Program
Php 1,000,000,000
Total Amount of Shares Repurchased
Php 10,831,854
Other Relevant Information
Remaining Outstanding Shares 36,884,420
1 From the date when the share buy-back program commenced.