Synergy Grid & Development Phils : Update on Corporate Actions/Material Transactions/Agreements
June 10, 2022 at 02:42 am
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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) Jun 8, 20222. SEC Identification Number 413763. BIR Tax Identification No. 000-593-240-0004. Exact name of issuer as specified in its charter Synergy Grid & Development Phils., Inc.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 16th Floor, Tycoon Center Bldg. Condominium, Pearl Drive, Pasig City, Metro ManilaPostal Code16058. Issuer's telephone number, including area code (632)8584-39309. 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
5,265,866,000
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.
Synergy Grid & Development Phils., Inc.SGP
PSE Disclosure Form 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules
Subject of the Disclosure
Subscription to Non-Voting Preferred Shares of National Grid Corporation of the Philippines
Background/Description of the Disclosure
As disclosed on 04 April 2022, Synergy Grid & Development Phils., Inc. (the "Corporation") subscribed to Two Hundred Three Million Six Hundred Thirty Thousand (203,630,000) non-voting preferred shares of National Grid Corporation of the Philippines (NGCP) with a par value of One Peso (PhP1.00) per share at a subscription price of PhP60.10/share or a total subscription price of PhP12,238,163,000.00.
As an update, on 07 June 2022, the Securities and Exchange Commission (SEC) has approved the amendment of the Articles of Incorporation and Increase in Authorized Capital Stock of NGCP from Two Billion Pesos (PhP2,000,000,000.00) divided into Two Billion (2,000,000,000) common shares with a par value of One Peso (PhP1.00) per share, to Two Billion Two Hundred Three Million Six Hundred Thirty Thousand Pesos (PhP2,203,630,000.00), divided into two classes of shares consisting of: (a) Two Billion (2,000,000,000) common shares with a par value of One Peso (PhP1.00) per share; and (b) Two Hundred Three Million Six Hundred Thirty Thousand (203,630,000) non-voting preferred shares with a par value of One Peso (PhP1.00) per share.
On 13 April 2022, the Corporation paid Three Billion Fifty-Nine Million Five Hundred Forty Thousand Seven Hundred Fifty Pesos (PhP3,059,540,750.00) in cash, representing twenty-five percent (25%) of the total subscription price. Within ten (10) days from the approval of the NGCP's SEC application, the Corporation will pay the balance of the total subscription price in the amount of Nine Billion One Hundred Seventy-Eight Million Six Hundred Twenty-Two Thousand Two Hundred Fifty Pesos (PhP9,178,622,250.00).
Other Relevant Information
Please see attached SEC Form 17-C with discussion on the features of the preferred shares.
Filed on behalf by:
Name
Pia Isabel Co
Designation
Compliance Officer
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Synergy Grid and Development Phils Inc. published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 01:41:05 UTC.
Synergy Grid & Development Phils., Inc. is a Philippines-based holding company. The Company is engaged in general construction and other allied businesses. The Company operates through transmission business segment. It operates transmission services across Luzon, Visayas, and Mindanao. The Company's subsidiaries include OneTaipan Holdings, Inc. (OTHI), Pacifica21 Holdings, Inc. (P21), Monte Oro Grid Resources Corporation (MOGRC), Calaca High Power Corporation (CHPC), and National Grid Corporation of the Philippines (NGCP). The CHPC engages in the general business of operating, managing, maintaining, and rehabilitating energy systems and services from gas, steam, and electricity including related services and business activities. The NGCP operates and maintains a nationwide transmission grid throughout the Philippines to provide open and non-discriminatory access to the transmission system to all authorized electricity distributors and electricity users.