C07442-2023

SECURITIES AND EXCHANGE COMMISSION
SEC 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)
Oct 12, 2023
2. SEC Identification Number
PW0000727
3. BIR Tax Identification No.
000229931
4. Exact name of issuer as specified in its charter
CENTRAL AZUCARERA DE TARLAC, INC.
5. Province, country or other jurisdiction of incorporation
Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
San Miguel, Tarlac City Postal Code 2301
8. Issuer's telephone number, including area code
(632) 8818.62.70
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 238,496,840
11. Indicate the item numbers reported herein
Item 2. Acquisition or Disposition of Assets

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.

Central Azucarera de Tarlac, Inc.CAT

PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Disposition of Asset by Subsidiary: The Board of Directors of Central Azucarera de Tarlac, Inc. (“Company”) approved the proposed sale of a 200-hectare property by its wholly-owned subsidiary Luisita Land Corporation (“LLC”).
Background/Description of the Disclosure

LLC is a wholly-owned subsidiary of the Company. LLC was incorporated and registered with the Securities and Exchange Commission (SEC) on May 11, 1977, primarily for developing, leasing, and selling real properties.

LLC is selling a 200-hectare property situated in Tarlac City to Lima Land Inc. The transaction requires the consent/approval of the Company which owns a controlling interest and more than two-thirds of the outstanding capital stock of LLC. The Company is also the largest creditor of LLC.

The sale is still subject to certain closing conditions which are in the process of being fulfilled/satisfied.
Date of Approval by
Board of Directors		 Oct 10, 2023
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The proceeds of the sale of the asset by LLC will be primarily used to:
- Liquidate the LLC long term debt equivalent to P1.65B;
- Support further investments in LLC’s property manangement operations;
- Facilitate growth in LLC’s water distribution business; and
- Provide dividends to the LLC shareholders.
Details of the acquisition or disposition
Date TBA
Description of the Transaction

LLC, a wholly-owned subsidiary of the Company, has agreed to sell a 200-hectare property situated in Tarlac City to Lima Land Inc., subject to certain closing conditions
Manner

Sale and purchase of assets payable on installment basis.
Description of the assets involved

200-hectare property situated in Tarlac City
Terms and conditions of the transaction
Nature and amount of consideration given or received

The value of the consideration is more than 10% of the total assets of the Company.
Principle followed in determining the amount of consideration

The amount of consideration is based on the parties’ negotiated purchase price.
Terms of payment

Payment will be made on installment basis.
Conditions precedent to closing of the transaction, if any

The transaction requires the consent/approval of the Company which owns a controlling interest and more than two-thirds of the outstanding capital stock of LLC. The Company is also the largest creditor of LLC.
Any other salient terms

N.A.
Identity of the person(s) from whom the assets were acquired or to whom they were sold
Name Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
LIMA LAND, INC. No relationship
Effect(s) on the business, financial condition and operations of the Issuer, if any

The sale of the asset will translate into additional cash for LLC, which will be used to partially settle financial obligations. Savings arising from the decreased debt service costs will be used for reinvestments that are expected to increase shareholder value.
Other Relevant Information

N.A.
If the transaction being reported is an acquisition, kindly submit the following additional information:
Source(s) of funds

N.A.
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.
Filed on behalf by:
Name Addison Castro
Designation Assistant Corporate Secretary and Compliance Officer