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

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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.