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) Jul 27, 20222. SEC Identification Number CS2010107803. BIR Tax Identification No. 007-813-8494. Exact name of issuer as specified in its charter Citicore Energy REIT Corp.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 11F Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan CityPostal Code15008. Issuer's telephone number, including area code (02) 8826-56989. Former name or former address, if changed since last report N/A10. 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 Shares
6,545,454,004
11. Indicate the item numbers reported herein Item 9 - Other Events
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.
Citicore Energy REIT Corp.CREIT
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
CREIT financial results for 1H 2022
Background/Description of the Disclosure
Citicore Energy REIT Corporation ("CREIT" or the "Company"), the country's first energy REIT, delivered a net income of P601 million in the first six months of 2022, more than five times the P89 million posted in the same period last year.
The Company rewarded its shareholders last July 20, 2022 by declaring cash dividends of another P0.044 per share, representing income for the second quarter of 2022, payable on September 14, 2022, shareholders on record as of August 19, 2022 are entitled to said cash dividends. The amount represents 107% of the distributable income for the 2nd quarter of 2022 and indicates an annualized yield of 7.33% (excluding special dividends) based on the July 20, 2022 closing price of P2.38 per share.
This is the second cash dividends for the year and brought total cash dividends declared to P0.088/share for the first six months of the year - 151% higher than the dividends declared and paid for the full year of 2021. With the above dividend payout, CREIT is well-positioned to achieve the 7% annualized yield as per REIT Plan, incorporating the possible upside from the variable lease at end of the year which will then be separately declared as special dividend.
The Company's gross revenues for the first half of the year rose to P664 million, 408% higher versus 1H2021, which mainly consisted of lease income from the guaranteed base lease from various solar plant companies. EBITDA likewise grew to P643 million or 429% with an EBITDA margin of 97%.
"As the Country's first publicly-listed Renewable Energy REIT, we are now seeing the recurring rental revenue stream from our green asset portfolio. As detailed in the REIT Plan, we are committed to pay a steady dividend stream, with strong upside potential from new asset
infusion from the Sponsor moving forward," said Oliver Y. Tan, CREIT President and CEO.
"New fresh assets to be infused are expected to increase CREIT's revenue base and earnings, which will eventually translate into higher dividends for our investors over the long-term," Tan added.
DISCLAIMER: THIS PRESS RELEASE CONTAINS DATA FROM THE FINAL REIT PLAN THAT CAN BE CONSIDERED AS FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO RISKS AND OPPORTUNITIES THAT COULD AFFECT CREIT'S PLANS IN 2022. ALTHOUGH CREIT BELIEVES THAT EXPECTATIONS REFLECTED IN ANY FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO GUARANTEE OF FUTURE ACTIONS OR EVENTS.
FURTHER, THIS DOCUMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ELSEWHERE. THE SECURITIES OF THE COMPANY ARE NOT BEING REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES UNLESS REGISTERED UNDER THE SECURITIES ACT OR PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES OF THE COMPANY IN THE UNITED STATES. NO MONEY, SECURITIES OR OTHER CONSIDERATION IS BEING SOLICITED BY THIS DOCUMENT OR THE INFORMATION CONTAINED HEREIN AND, IF SENT IN RESPONSE TO THIS DOCUMENT OR THE INFORMATION CONTAINED HEREIN, WILL NOT BE ACCEPTED.
Other Relevant Information
Please see attached Press Release.
Filed on behalf by:
Name
Elaine Wong
Designation
Assistant Corporate Secretary
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Citicore Energy REIT Corporation published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 03:31:01 UTC.
Citicore Energy REIT Corporation is a Philippines-based company which operates as a real estate investment trust. The Company's primary objective is to explore, develop and utilize renewable resources with a particular focus on solar and wind energy generation to design, construct, erect, assemble, commission, and operate power-generating plants and related facilities for the conversion of renewable energy into a usable form fit for electricity generation and distribution; and to perform other ancillary and incidental activities. It operates through two segments: sale of solar energy and leasing. The sale of the solar energy business segment is engaged in the generation of electricity from solar energy through its Clark Solar Power Project. The leasing business segment is engaged in the rental operations of the Company with related parties. Its leasing properties include Clark Solar Power Plant, Armenia Property, the Toledo Property, the Silay Property, and the Dalayap Property.
CITICORE ENERGY REIT CORP. 
