C04671-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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COMMON | 2,499,712,463 |
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.
Subject of the Disclosure |
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Legal Proceedings |
Background/Description of the Disclosure |
Alliance Select Foods International, Inc. (the “Company” or “ASFII”) minority shareholders Hedy S. C. Yap-Chua, Harvest All Investment Limited, Victory Fund Limited and Bondeast Private Limited (“Complainants”) filed a Complaint dated November 2, 2020 alleging that the private placement of Company shares made on May 5, 2014 and the Stock Rights Offer conducted by the Company in 2015 are null and void because it supposedly violated Section 19 of the Securities Regulation Code (“Complaint”). |
Name of the court or agency in which the proceedings are pending | Securities and Exchange Commission |
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Date Instituted | Nov 2, 2020 |
Docket Number | SEC En Banc Case No. 07-22-501 (SEC MSRD Case No: MSRD-SRD-2021-1) |
Principal Parties |
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Hedy S.C.Yap Chua, Harvest All Investment Limited, Victory Fund Limited, and Bondeast Private Limited v. Alliance Select Foods International, Inc. |
Nature and description of the legal proceedings |
Complainants alleged that the private placement of shares made on May 5, 2014 and the Stock Rights Offer conducted by the Company in 2015 are null and void because it supposedly violated Section 19 of the Securities Regulations Code. |
The effect(s) on the Issuer's business or operations, if any |
The Resolution has no effect on the Company’s business, financial condition, ownership structure and capital structure until it becomes final, executory and fully implemented. |
Other Relevant Information |
The Company shall file a Motion for Reconsideration with the Securities and Exchange Commission En Banc, a Manifestation with Urgent Reiterative Motion for Temporary Restraining Order and/or Writ of Preliminary Injunction with the Court of Appeals, and exhaust all other available legal remedies. |
Name | Maria Resa Celiz |
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Designation | Chief Compliance Officer |