C07084-2023

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)
Sep 22, 2023
2. SEC Identification Number
98780
3. BIR Tax Identification No.
002-727-393
4. Exact name of issuer as specified in its charter
ABACORE CAPITAL HOLDINGS, INC.
5. Province, country or other jurisdiction of incorporation
METRO MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
135 J.P. RIZAL ST., BRGY. MILAGROSA, PROJECT 4, QUEZON CITY Postal Code 1109
8. Issuer's telephone number, including area code
(02) 8724-3759 / 8725-7875
9. Former name or former address, if changed since last report
ABACUS CONSOLIDATED RESOURCES & HOLDINGS, INC.
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 SHARE 4,185,934,029
AMOUNT OF DEBT OUTSTANDING AS OF JUNE 30, 2023 80,000,000
11. Indicate the item numbers reported herein
Item 9

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.

AbaCore Capital Holdings, Inc.ABA

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

RESULTS OF REGULAR BOARD MEETING
Background/Description of the Disclosure

In the meeting held today, the following events occurred:

A. Investment in contiguous Simlong Property

The Chief Operating Officer and the Vice President for operations presented the investment of the Corporation in a 15-hectare property contiguous to the current properties of the Corporation in Simlong Batangas. The investment will result in the increase in investment properties of the Corporation and a replenishment of the inventory of its assets, in line with the previously adopted principle of the Board to replace assets sold with new assets even in other areas. The same is made at a discount of around P225M to the most recent appraised value of the said target investment property. The Board approved the investment as presented and correspondingly recommended by the Investment Committee.

B. Terms and Conditions of the Share Buy-Back Program

The board likewise approved the following terms and conditions for the buy-back program as follows:

1. Up to 45 million PESOS worth shall be the maximum spent for the share buyback program (buyback).
2. The period shall be for two years from October 2023 till September of 2025.
3. The buyback program shall only be implemented upon availability of funds after the following have been deducted, allocated, budgeted, and spent after the fiscal year:
a. Operational Expenses for the fiscal year
b. Capital Expenses
c. Future Capital Expenses of the Corporation and its wholly owned subsidiaries
d. Funding for 10% annual dividend
e. All taxes of the Corporation and its wholly controlled and owned subsidiaries
f. Payment of advances from related parties
4. Shall be subject to the existence of unrestricted retained earnings
5. Shall not violate the minimum public float.
6. Shall not restrict cashflow for current projects and future projects and annual minimum 10% of par dividend policy
7. The Broker shall be Guild Securities, Inc. unless otherwise changed by the CEO and COO.
8. Shall be dependent on market conditions as determined by the CEO and COO;
9. Determination of amount to buy, when to buy, shall be solely determined by the unanimous vote of the Chief Executive Officer Raul B. De Mesa, and the Chief Operations Officer, Engr. Arturo V. Magtibay.

C. Business Development Incentive Program

The President and Chairman then presented a Business Development Incentive Program for Directors, Officers, Consultants, and Employees in relation to sale, lease, and joint venture of the investment properties of the Corporation. The rationale for said Business Development Incentive Program was summed up as follows:

1. to achieve recurrence of regular cash flows for the Corporation as a result of leases, sales, development projects, or joint ventures over the investment properties of the Corporation.
2. to further expand the business model from purely buying and selling land to one of a holding company that effectively is also an operating company with on-going projects
3. to enhance the thrust of the Corporation to operationalize its investments and realize their values

The Board approved the program as presented by the President and Chairman and adopted the same for implementation.
Other Relevant Information

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Filed on behalf by:
Name Rico De Los Reyes
Designation Comptroller