C05699-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 13,489,226,623 |
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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Arbitration proceedings initiated by CHP's subsidiary |
Background/Description of the Disclosure |
Solid Cement Corporation (“Solid”) has initiated arbitration proceedings against a power supplier on the ground of wrongful termination of the retail power supply agreement for electricity to Solid’s cement plant located in Antipolo City, Province of Rizal. |
Name of the court or agency in which the proceedings are pending | Philippine Dispute Resolution Center Inc. |
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Date Instituted | Jul 26, 2023 |
Docket Number | PRDCI Case No. 2023-148 |
Principal Parties |
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Claimant is Solid Cement Corporation |
Nature and description of the legal proceedings |
Solid claims that LPI has wrongfully terminated the retail power supply agreement which would have expired in December 2025. |
The effect(s) on the Issuer's business or operations, if any |
Despite its dispute with LPI, Solid has successfully taken alternative measures to achieve uninterrupted supply of electricity to its cement plant. |
Other Relevant Information |
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Name | Jannette Sevilla |
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Designation | Corporate Secretary and Compliance Officer |