| C06477-2026 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common | 2,131,672,208 |
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Universal Robina CorporationURC| Subject of the Disclosure |
|---|
URC to sell 21% share of NURC to NFA |
| Background/Description of the Disclosure |
Universal Robina Corporation (“URC”) and Nissin Foods Asia Co., Ltd. (“NFA”) have entered into a transaction under which NFA will acquire an additional twenty-one percent (21%) equity interest in their joint venture, Nissin Universal Robina Corporation (“NURC”). Upon completion, NFA will hold seventy percent (70%) of NURC and URC will retain thirty percent (30%). |
| Date of Approval by Board of Directors |
Mar 13, 2026 |
|---|
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
|---|
URC and NFA are refining the partnership to further accelerate NURC’s development. In recognition of NFA’s global strengths in product innovation and brand-building in the noodles category, NFA will assume an enhanced leadership role in these areas. URC will continue to serve as the local operating partner in the Philippines, remaining deeply involved in day-to-day operations and contributing its market knowledge, strong route-to-market capabilities, and execution excellence to sustain and enhance NURC’s competitive position. |
| Date | Jan 7, 2027 |
|---|
| Manner |
|---|
Direct sale of shares |
| Description of the company to be acquired or sold |
Established in 1994, Nissin Universal Robina Corporation (NURC) is a joint venture between Universal Robina Corporation (URC) and Nissin Foods Asia Co., Ltd. (NFA). The company manufactures and sells instant noodles in the Philippines and is a key player in the local market. URC currently holds a 51% majority ownership stake, while NFA owns the remaining 49%. |
| Number of shares to be acquired or disposed | 39,690,000 |
|---|---|
| Percentage to the total outstanding shares of the company subject of the transaction | 21 |
| Price per share | TBA |
| Nature and amount of consideration given or received |
|---|
TBA |
| Principle followed in determining the amount of consideration |
In determining the amount of consideration, two (2) methods were utilized: (i) Discounted Cash Flow with terminal value using the Gordon Growth method, and (ii) Enterprise Value / EBITDA multiples. |
| Terms of payment |
The consideration shall be finalized by December 2026, and shall be paid upon satisfaction of the conditions precedent. |
| Conditions precedent to closing of the transaction, if any |
The consummation of the transaction is subject to securing prior approval from the Philippine Competition Commission ("PCC") and shall be subject to customary closing procedural requirements. |
| Any other salient terms |
None. |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
Following closing, NFA will consolidate NURC in its financial statements. URC will recognize its economic interest in NURC using the equity method in accordance with applicable local financial reporting standards. This change in financial presentation does not affect the business operation and is expected to continue without disruption during and after the transition. |
| Other Relevant Information |
The disclosure has been amended to reflect the Company's receipt of the PCC Certification clearing the transaction. |
| Name | Elvin Michael Cruz |
|---|---|
| Designation | Chief Legal Officer and Corporate Secretary |