C08555-2023

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)
Dec 6, 2023
2. SEC Identification Number
184044
3. BIR Tax Identification No.
350-000-775-860
4. Exact name of issuer as specified in its charter
JG SUMMIT 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
43rd Floor, Robinsons Equitable Tower, ADB Avenue corner Poveda Street, Ortigas Center, Pasig City, Metro Manila Postal Code 1605
8. Issuer's telephone number, including area code
(632) 8633-7631 to 40
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 7,520,983,658
11. Indicate the item numbers reported herein
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.

JG Summit Holdings, Inc.JGS

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Additional Capital Infusion in Subsidiary
Background/Description of the Disclosure

We wish to advise the Exchange that, during its meeting held on November 17, 2023, the Board of Directors of JG Summit Holdings, Inc. (JGS) approved the proposal to infuse additional capital of up to Php11 billion into its wholly-owned subsidiary, JG Summit Olefins Corporation (JGSOC). This infusion is primarily intended to pay off JGSOC maturing obligations and to support its operations.

The above capital infusion will be subject to regulatory approvals, if any.
Date of Approval by
Board of Directors		 Nov 17, 2023
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

JGSOC will use the funds to pay off its expansion project obligations and to support its operations during a period of declining market demand and rising input costs
Details of the acquisition or disposition
Date Dec 6, 2023
Manner

JGS will subscribe to additional shares of JGSOC which will be issued out of existing unissued shares
Description of the company to be acquired or sold

JGSOC is a wholly owned subsidiary of JGS engaged in acquiring, designing, constructing, erecting, assembling, rehabilitating, expanding, commissioning, operating and maintaining a naphtha cracker plant and related facilities for the production of products such as polymer grade ethylene, polymer grade propylene, pyrolysis gasoline, mixed C4, pyrolysis fuel oil and other products and their by-products; to sell such products and by-products to any person or entity through markets, by trading, exportation or by contract; to administer conserve and manage the products and by-products generated by the plant, owned by the Corporation, or by a third party; to invest in or acquire corporations or entities engaged in any of the foregoing activities.
The terms and conditions of the transaction
Number of shares to be acquired or disposed 1,673,014,607
Percentage to the total outstanding shares of the company subject of the transaction 20.73
Price per share 6.57
Nature and amount of consideration given or received

Cash infusion in the amount of 11 billion pesos in exchange of 1,673,014,607 shares of JGSOC
Principle followed in determining the amount of consideration

Funding needs based on JGSOC’s estimated operational requirements
Terms of payment

One time cash infusion
Conditions precedent to closing of the transaction, if any

N/A
Any other salient terms

None
Identity of the person(s) from whom the shares 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
JG Summit Olefins Corporation Wholly-owned subsidiary
Effect(s) on the business, financial condition and operations of the Issuer, if any

The additional capital infusion will improve the JGSOC's financial liquidity position
Other Relevant Information

This disclosure is being amended to provide the date of the acquisition of additional shares in JGSOC on December 6, 2023.

Please see the attached JGS SEC Form 17-C Current Report.
Filed on behalf by:
Name Maria Celia Fernandez-Estavillo
Designation Senior Vice President, General Counsel and Corporate Secretary