C05704-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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COMMON SHARE | 4,185,934,029 | |
AMOUNT OF DEBT OUTSTANDING AS OF MARCH 31, 2023 | 80,000,000 |
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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Authority granted to executive officers to acquire and invest in a property located in Barangay Ulat, Silang Cavite with an area of 22.5 hectares. |
Background/Description of the Disclosure |
Disclosure is made in compliance with disclosure requirements for the investing public to appreciate the Corporations continued effort to replenish and enhance its land bank and investment properties and replace assets disposed at higher prices. |
Date of Approval by Board of Directors |
Jul 24, 2023 |
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Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction | |
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Plan of the Corporation to develop the area into a residential area. Contiguous and nearby developments from other developers currently sell in market for 50-70 thousand per square meter. |
Date | TBA |
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Description of the Transaction |
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Floor price of 5,000/sqm and ceiling price of 7,000/sqm subject to appraisal of independent appraiser. Terms and conditions for payment to be negotiated by management. |
Manner |
Payment will be in cash based on final terms and conditions to be negotiated by management |
Description of the assets involved |
Real property residential, 225,000 sqm, more or less |
Nature and amount of consideration given or received |
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Floor price of 5,000 per square meter ceiling 7,000 per square meter with a total of 225,000 sqm more or less for a total of P1,125,000,000 or P1,575,000,000 depending on final appraisal of independent appraiser of land. |
Principle followed in determining the amount of consideration |
Floor price of 5,000 per square meter ceiling 7,000 per square meter with a total of 225,000 sqm more or less for a total of P1,125,000,000 or P1,575,000,000 depending on final appraisal of independent appraiser of land. |
Terms of payment |
To be determined after negotiation with management |
Conditions precedent to closing of the transaction, if any |
To be determined subject to negotiation by management |
Any other salient terms |
- |
Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
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BLUE STOCK DEVELOPMENT HOLDINGS, INC. | Stockholder of Abacore Capital Holdings, Inc. |
Effect(s) on the business, financial condition and operations of the Issuer, if any |
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Increase in land inventory and investment properties of the corporation at prices lower than comparable properties |
Other Relevant Information |
- |
Source(s) of funds |
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Dividends from subsidiaries from sales of land, proceeds from operations of and advances from wholly-owned subsidiaries and affiliates. |
If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes |
N/A |
Name | Rico De Los Reyes |
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Designation | Comptroller |