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 11, 2023

2. SEC Identification Number

14812

3. BIR Tax Identification No.

000-110-888-000

4. Exact name of issuer as specified in its charter

CHEMICAL INDUSTRIES OF THE PHILIPPINES, INC.

5. Province, country or other jurisdiction of incorporation

METRO MANILA, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

CHEMPHIL BUILDING, 851 A. ARNAIZ AVENUE MAKATI CITY Postal Code 1229

8. Issuer's telephone number, including area code

(02) 8687-8877

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 STOCK P10 PAR VALUE	10,296,601

11. Indicate the item numbers reported herein

Item 2

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.

Chemical Industries of the Philippines, Inc.CIP

PSE Disclosure Form 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules

Subject of the Disclosure
Update on the Substantial Acquisition disclosure filed by Chemical Industries of the Philippines (“CIP”), Inc. dated 3 July 2023 regarding the Share Purchase Agreement for the purchase of one hundred percent of the ONE MILLION (1,000,000) common shares (the “Subject Shares”) of the capital stock of Tierra Ariana Eco Land, Inc.
Background/Description of the Disclosure
On 11 August 2023, an amendment to the foregoing Share Purchase Agreement was executed by the Parties. The said amendment includes an agreement to divide the amount of Documentary Stamp Tax which may be due on the transaction among CIP and the selling stockholders of Tierra Ariana. The Parties likewise agreed to forego the agreement to have Vital Time assign its credit against Tierra Ariana to CIP. The parties agreed that CIP will directly pay off Tierra Ariana’s existing liability to Vital Time. On 11 August 2023 the above-mentioned Share Purchase Agreement was implemented by the Parties by way of the execution of Deeds of Absolute sale covering the 400,000 shares registered under the name of Pacific Unity SDN. BHD and the 600,000 shares registered under Wessex Holdings Corporation.
Other Relevant Information
With respect to the statement that the Parties likewise agreed to forego or not to enfoce the agreement to have Vital Time assign its credit against Tierra Ariana to CIP, the Amendment to the Share Purchase Agreement contains a statement that Vital Time and/or its assigns undertake not to enforce the collection of any remaining outstanding balance of the Vital Time Payable after CIP’s payments, pursuant to Section 2.3(c)(i) and Section 5.1(e)(iii)(1) and (2) and Annex “D” of the Share Purchase Agreement and hereby releases, waives and quitclaims the same. CIP will directly pay off Tierra Ariana’s existing liability to Vital Time.