IPeople, inc. : Merger through a Share-for-Share Swap – Additional Listing
July 05, 2022 at 04:33 am EDT
Share
NOTICE
Subject
iPeople, inc. : Merger through a Share-for-Share Swap - Additional Listing
Company Name
iPeople, inc.
Security Details
Type of Security
Stock Symbol
Par Value
Common Shares
IPO
Php 1.00
Type of Transaction(s)
Merger
Transaction Ratio (if applicable)
1 new IPO share for every 6.75 shares of ACEI
Transaction Value
Php 4,382,696,843.84
Details of the Transaction
Subscriber
Consideration
Transaction Price
Stock Symbol
Number of Shares Issued
Ayala Corporation
1,993,477,338 ACEI shares
Php 14.84
IPO
295,329,976
Lock-up Details (if applicable)
Duration of Lock-up
N/A
Applicable Lock-up Rule
N/A
Escrow Agent
N/A
Date of Execution of Escrow Agreement
N/A
Details of the Mandatory Lock-up
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
-
-
-
-
Details of the Voluntary Lock-up (if applicable)
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
-
-
-
-
Shares to be Listed
Stock Symbol
No. of Shares
IPO
295,329,976
Tradable Shares
Stock Symbol
No. of Shares
IPO
295,329,976
Listing Date
Jul 7, 2022
Adjustments
Issued Shares (if applicable)
Type of Security / Stock Symbol
Before
After
IPO
1,044,263,197
1,044,263,197
Outstanding Shares (if applicable)
Type of Security / Stock Symbol
Before
After
IPO
1,044,263,197
1,044,263,197
Listed Shares
Type of Security / Stock Symbol
Before
After
IPO
748,933,762
1,044,263,197
Other Relevant Information
On October 1, 2018, iPeople, inc. ("IPO" or the "Company"), the House of Investments, Inc. ("HI"), Ayala Corporation ("AC"), and AC Education, Inc. ("ACEI") signed the definitive agreement in connection with the merger of IPO, with ACEI through a share-for-share swap transaction with AC. As a result of the swap transaction, 100% of the issued and outstanding capital stock of ACEI will be owned by IPO while AC will now own 33.50% of the issued and outstanding capital stock of IPO.
Upon SEC approval, IPO issued 295,329,976 IPO shares to AC in exchange for 1,993,477,338 ACEI shares.
Please refer to the relevant disclosures of the Company on the following dates:
1) C06566-2018 dated October 2, 2018;
2) C08308-2018 dated December 12, 2018; and
3) C02757-2019 dated April 26, 2019.
As of July 5, 2022, the Company has complied with all post-approval requirements for the listing of the shares subject of the share-for-share swap transaction described above. The number of IPO's listed common shares will be accordingly adjusted on listing date.
Further to said adjustment and the on-going reconciliation of the number of issued, outstanding and listed shares of the Company, 541 listed shares, which were the fractional shares previously listed as a result of the 30% stock dividend declared by the Company in 2005, will be removed from the PSE's Registry of Listed Shares.
For your information and guidance.
Filed on behalf by:
Name
Norberto Moreno Jr.
Designation
Listings Department
Attachments
Original Link
Original Document
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Disclaimer
iPeople Inc. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 08:32:07 UTC.
iPeople, inc. is a holding and management company. The Companyâs main operating subsidiaries are the Malayan Education System, Inc. (Mapua University), National Teachers College (NTC), University of Nueva Caceres (UNC) and Affordable Private Education Center, Inc. (APEC). Mapua University also has three main wholly owned subsidiaries, including Malayan Colleges Laguna, Inc. (MCL), Malayan High School of Science, Inc. (MHSS) and Malayan Colleges Mindanao, Inc. (MCM). Malayan Colleges Laguna, Inc. is located in Cabuyao, Laguna and established to extend the brand of the Mapua Institute of Technology to the south by offering programs in engineering, computer science, information technology, business, accountancy, and hotel and restaurant management to students who prefer to stay closer to home. MHSS is a science-and math-oriented high school located in Pandacan, Manila. Malayan Colleges Mindanao, Inc. offers Mapua-education in Davao and Mindanao.