NOTICE
Subject Philippine Estates Corporation: Stock Rights - Final Terms and Conditions
Company Name Philippine Estates Corporation
Security Details
Type of Security Stock Symbol Par Value
Common Shares PHES Php 1.00
Type of Transaction Stock Rights Offering
Rights Shares
Stock Symbol No. of Shares Rights Offer Price
PHES 1,445,549,830 Php 1.00
Rights Entitlement Ratio One Rights Share for every One Common Share held
Pricing Date (if applicable) N/A
Ex-Date Nov 26, 2021
Record Date Dec 2, 2021
Start of Rights' Offer Period Dec 6, 2021
End of Rights' Offer Period Dec 13, 2021
Payment Terms Please see below.
Lead Underwriter(s) Please see below list.
Other Parties to the Rights Offer
Function Name of the Party
Issue Manager and Underwriter Abacus Capital and Investment Corporation
Legal Advisor to the Company Corporate Counsels Philippines Law Offices
Legal Advisor to the Issue Manager and Underwriter Tan Venturanza Valdez Law
Stock Transfer Agent BDO Unibank, Inc. - Trust and Investments Group
Receiving Agent BDO Unibank, Inc. - Trust and Investments Group
External Auditor Diaz Murillo Dalupan and Company
Corporate Website Hyperlink to the Prospectus https://phes.com.ph/company-disclosure
Tentative Listing Date Dec 24, 2021
Other Relevant Information

The Board of Directors of Philippine Estates Corporation ("PHES" or the "Company") approved the conduct of a Stock Rights Offering ("SRO") of common shares to be issued from the Company's unissued authorized capital stock. The Company offers two (2) options for the payment of the SRO: (i) full payment upon submission of the Application; or (ii) on installment basis, where the initial payment of 25.0% of the subscription amount is paid upon submission of the Application with the balance to be paid on or before October 31, 2022.

Proceeds from the Stock Rights Offer are intended to be used for the acquisition of land for the Company's pipeline of projects and the remaining balance to be used for general corporate purposes.

Please refer to the relevant disclosures of the Company on the following dates:

1. C01986-2021 dated March 26, 2021; and
2. C04204-2021 dated June 18, 2021.

The Exchange approved the application of the Company for the listing of up to 1,445,549,830 common shares ("Right Shares"), with a par value of Php1.00 per share, to cover its SRO to all stockholders as of the proposed record date, at an Offer Price of Php1.00 per Offer Share. The Exchange's approval of the listing of the Right Shares is subject to the Company's compliance with all applicable requirements and post-approval conditions of the Exchange.

Fully-paid Rights Shares will be listed and available for trading on the expected listing date above, subject to compliance with applicable post-approval conditions. On the other hand, partially-paid Rights Shares will only be listed and be available for trading upon full payment thereof and compliance with the relevant post-approval requirements. In the event that the legal and regulatory thresholds for the conduct of a mandatory tender offer are met, the Company shall comply with the same and the shares subject of the transaction that triggered the mandatory tender offer may only be listed upon completion of the mandatory tender offer and compliance with other regulatory requirements.

Kindly refer to the attached final terms and conditions of the Stock Rights Offer for other details.

The Exchange will accordingly announce any developments on the Company's listing application.

For your information and guidance.

Filed on behalf by:
Name Norberto Moreno Jr.
Designation Listings Department

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Philippine Estates Corporation published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 11:11:12 UTC.