C06091-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

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)
Aug 7, 2023
2. SEC Identification Number
CS201000985
3. BIR Tax Identification No.
007-582-936
4. Exact name of issuer as specified in its charter
SFA SEMICON PHILIPPINES CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Panday Pira Avenue, corner Creekside Road, Clark Freeport Zone, Pampanga Postal Code 2009
8. Issuer's telephone number, including area code
045-499-1745
9. Former name or former address, if changed since last report
NOT APPLICABLE
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 2,087,846,111
11. Indicate the item numbers reported herein
Item 9. Other events

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.

SFA Semicon Philippines CorporationSSP

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

SSP Approves Extension of its Share Buyback Program
Background/Description of the Disclosure

SFA Semicon Philippines Corporation (Trading Symbol: SSP) announced that, on August 7, 2023, its Board of Directors approved the extension of SSP’s share buyback program under substantially the same terms and conditions, through the approval of an additional funding of up to PhP73,000,000.00 (or around US$1,351,851.85)-worth of SSP’s common shares for the program.

On June 29, 2022, SSP launched its share buyback program with the allocation for the program of the original funding of up to PhP130,000,000.00– (or about US$2,500,000.00), in order to enhance shareholder value and manifest confidence in SSP’s value and prospects.

As of July 31, 2023, SSP has already purchased a total of 75,880,000 of its own shares for the total acquisition cost of PhP123,779,266.88 (with PhP6,220,733.12 remaining from the original funding of PhP130 million). The 75,880,000 repurchased common shares represents 3.50% of SSP’s total issued and outstanding shares of 2,165,024,111 a day before the program was implemented. SSP’s outstanding shares as of July 31, 2023 is 2,089,144,111 (with the 75,880,000 repurchased shares being booked as treasury shares).

SSP’s share price has appreciated to PhP1.82 per share at the close of trading on July 31, 2023, 84% up from the P0.99 per share closing price on June 29, 2022, the day that SSP has approved, and disclosed to the public, its share buyback program. As of August 4, 2023, SSP share price closed at 1.82.

Comparatively, the PSE index closed at 6,591.47 points on July 31,2023 or a rise of 4% from ending index level of 6,315.93 at the end of trading hours on July 29, 2022.

The additional funding of PhP73,000,000.00 brings the total funding allotted for SSP’s share buyback program since the start of its implementation up to PhP203 million (or around US$3,851,851.85).

Despite the weak short-term outlook in the semiconductor industry, SSP is hopeful that the share buyback program will continue to improve shareholder value, which is expected to be earnings-per-share accretive to shareholders and to increase return on equity.
Other Relevant Information

Any forward-looking statements and information that may be contained in this document are subject to considerable risks and uncertainties. These include, but are not limited to, express and implied, expected and estimated results or performance, including but not limited to financial position or cash flow. Known and unknown risks, uncertainties, changes in the policies, decisions, and determinations of governmental or regulatory authorities, and other factors may cause our performance to be significantly different from the predicted outcomes in the future. SFA Semicon Philippines Corporation (“SSP”) has been in the business for a relatively considerable time and any forward-looking statements herein are based on its experience, but nothing in this disclosure must be interpreted to mean as a commitment due to the risks and uncertainties of the future.
Filed on behalf by:
Name Caroline Sicat
Designation Treasurer/Assistant Corporate Secretary