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    CIP   PHY1305B1080

CHEMICAL INDUSTRIES OF THE PHILIPPINES, INC.

(CIP)
  Report
End-of-day quote Philippines Stock Exchange  -  2022-12-06
100.00 PHP    0.00%
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Chemical Industries of Philippines : Amendments to Articles of Incorporation

08/18/2022 | 11:34pm EST
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) Aug 19, 20222. SEC Identification Number 148123. BIR Tax Identification No. 000-110-888-0004. Exact name of issuer as specified in its charter CHEMICAL INDUSTRIES OF THE PHILIPPINES, INC.5. Province, country or other jurisdiction of incorporation METRO MANILA, PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office CHEMPHIL BUILDING, 851 A. ARNAIZ AVENUE MAKATI CITYPostal Code12298. Issuer's telephone number, including area code (02) 8687-88779. 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 STOCK P10 PAR VALUE 10,296,601
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.

Chemical Industries of the Philippines, Inc.CIP PSE Disclosure Form 4-3 - Amendments to Articles of Incorporation References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Amendment to Articles of Incorporation

Background/Description of the Disclosure

On 19 August 2022, the Board of Directors, through a Special Meeting, approved the amendment of the primary purpose of the Corporation. This amendment will be presented to our stockholders for approval at the annual stockholders' meeting to be held on 15 September 2022.

Date of Approval by
Board of Directors
Aug 19, 2022
Date of Approval by Stockholders TBA
Other Relevant Regulatory Agency, if applicable N/A
Date of Approval by Relevant Regulatory Agency, if applicable N/A
Date of Approval by Securities and Exchange Commission TBA
Date of Receipt of SEC approval TBA
Amendment(s)
Article No. From To
Fourth To invest in, hold, own, purchase and otherwise acquire interests in corporations, associations, and other entities engaged in the development and business of the chemical industry, its allied industry as well as in agricultural and commercial enterprises; and to provide management, corporate planning, marketing, research and development, technical support and other services necessary or convenient in and about the conduct and operation of the business of such industries and enterprises. (a) To acquire by purchase, lease, or otherwise, lands or interest in lands and realty, and to own, hold, improve, develop, manage, and operate said land or lands or real estate so acquired, and to erect or cause to be erected on any lands, owned, held, occupied, or acquired by the corporation, buildings and other structures with their appurtenances, and to rebuild, enlarge, alter, improve, or remodel any building or other structures now or hereafter erected on any lands or real estates so owned, held or occupied, or otherwise dispose of any lands or real estate or interests in lands or real estates and in buildings and other structures at any time owned or held by the corporation.
Rationale for the amendment(s)

The Corporation intends to prioritize its leasing activities, and as such, it will no longer be engaging in chemical segment. Its line of business will be shifted to authorize it to invest in and/or to engage in real-estate business.

The timetable for the effectivity of the amendment(s)
Expected date of filing the amendments to the Articles of Incorporation with the SEC TBA
Expected date of SEC approval of the Amended Articles of Incorporation TBA
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any

The amendment to the Forth Article of the Articles of Incorporation will allow the Corporation to prioritize its leasing activities, to invest in and/or to engage in real-estate business.

Other Relevant Information

-

Filed on behalf by:
Name Hernan Chua
Designation Compliance Officer

Disclaimer

Chemical Industries of the Philippines Inc. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 03:33:06 UTC.


ę Publicnow 2022
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Financials
Sales 2021 7,99 M 0,14 M 0,14 M
Net income 2021 -23,1 M -0,42 M -0,42 M
Net Debt 2021 13,8 M 0,25 M 0,25 M
P/E ratio 2021 -58,1x
Yield 2021 -
Capitalization 1 030 M 18,6 M 18,6 M
EV / Sales 2020 166x
EV / Sales 2021 170x
Nbr of Employees 1
Free-Float 2,47%
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Managers and Directors
Janice Eunicia Co Roxas Chua President, Chief Operating Officer & Director
Cecille Albao Assistant Vice President-Controllership
Chi Thing Co Chairman
Nestor de Guzman Manager-Management Information System
Randolph M. Aguirre Compliance Officer