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 5, 20222. SEC Identification Number 1513093. BIR Tax Identification No. 004-707-597-0004. Exact name of issuer as specified in its charter RL COMMERCIAL REIT, INC. (Formerly: Robinsons Realty and Management Corporation)5. Province, country or other jurisdiction of incorporation Metro Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 25F Robinsons Cyberscape Alpha, Sapphire and Garnet Roads, Brgy. San Antonio, Ortigas Center, Pasig CityPostal Code16058. Issuer's telephone number, including area code (02)8397-18889. 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
9,948,997,197
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.
RL Commercial REIT, Inc.RCR
PSE Disclosure Form REIT-1 - Reinvestment Plan References: Rule 4 of the IRR of the REIT Act of 2009 and
Sections 4 and 8 of the Amended PSE Listing Rules for REITS
Report Date
Aug 5, 2022
InitialFiling
Amend
Amendment No.:
1
Items amended by Filing
In view of the COVID-19 pandemic, the different community quarantines along with the various government restrictions affecting movement of persons and business operations, RLC was constrained to make adjustments and change the order of priorities of projects in order to optimize its expenditures. Robinsons Land Corporation hereby submits its First Amended Sponsor Reinvestment Plan in Connection with the sale of Robinsons Cybergate Bacolod to RCR. Changes are as follows:
Projected disbursements for Robinsons Manila Redevelopment was reduced.
Project disbursements for Robinsons Metro East Redevelopment was increased.
Additional Projects that were added include:
1. RP Pagadian
2. North Luzon / Central Luzon (Land Acquisition)
Exact Name of REIT as Specified in its Charter
RL Commercial REIT, Inc.
Address of Principal Office
25F Robinsons Cyberscape Alpha, Sapphire and Garnet Roads, Ortigas Center, Pasig City
SEC Identification Number
151309
BIR Identification Number
004-707-597
Name of REIT Corporation:
RL Commercial REIT, Inc.
Reinvestment Plan Period:
Aug 5, 2022
A. Income-Generating Properties Transferred by the Sponsors/Promoters to the REIT
Name of Sponsor/Promoter
Description of Property Transferred
Certificate of Title of Property
Transfer Value of the Property to the REIT
N/A
-
-
-
B. Estimated Amount of Proceeds/Money to be Realized by the Sponsors/Promoters
I. From the Subsequent Sale of REIT shares or other securities issued in exchange for income-generating real estate transferred by the Sponsors/Promoters to the REIT
Name of Sponsor/Promoter
Estimated Amount of Proceeds
N/A
-
II. From the Sale of income-generating real estate to the REIT
Name of Sponsor/Promoter
Estimated Amount of Proceeds
Robinsons Land Corporation
778,040,000
C. The Reinvestment Projects
Description of the Real Properties/Infrastructure Projects subject of the Reinvestment Policy
Description of the Real Properties/ Infrastructure Projects
Location
Estimated Timing of Disbursement of the Money/ Proceeds for Reinvestment
Percentage of Completion as of the Date of the Reinvestment Plan
Type of Investment
(Direct ownership, shareholding, etc.)
Robinsons Metro East Redevelopment and The Link
Pasig City
1Q 2022 to 1Q 2023
90%
RLC Owned (100%)
Robinsons Manila Redevelopment
City of Manila
1Q 2022 to 1Q 2023
35%
RLC Owned (100%)
RP Pagadian
Pagadian City
3Q 2022 to 1Q 2023
10%
RLC Owned (100%)
North Luzon / Central Luzon
North Luzon / Central Luzon
4Q 2022
-
RLC Owned (100%)
Other Relevant Information
On March 08, 2022, RLC submitted its Reinvestment Plan covering a total of approximately PhP599.03 Million after deducting estimated costs directly attributable to the sale. In view of the COVID-19 pandemic, the different community quarantines along with the various government restrictions affecting movement of persons and business operations, RLC was constrained to make adjustments and change the order of priorities of projects in order to optimize its expenditures.
In view of the foregoing unforeseen events and following current regulations, RLC hereby submits its Amended Reinvestment Plan which provides for the investment of the net proceeds in building and property development and land. The Amended Reinvestment Plan covers different projects lined-up for RLC. RLC will disburse the amount RLC is required to reinvest from the net proceeds of the sale of Robinsons Cybergate Bacolod to any of the projects enumerated in the Amended Reinvestment Plan. All disbursements for such projects are intended to be distributed within one (1) year from receipt of the proceeds from the sale of Robinsons Cybergate Bacolod and any money raised by RLC from the sale of income-generating real estate to RCR.
Filed on behalf by:
Name
Matias Raymundo
Designation
CFO
Attachments
Original Link
Original Document
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Disclaimer
RL Commercial REIT Inc. published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 10:00:02 UTC.
RL Commercial REIT, Inc. is a Philippines-based real estate investment trust (REIT) company. The Companyâs primary purpose is to acquire by purchase, lease or otherwise, and to own, develop, sell, mortgage, lease, and hold for investment or otherwise, real estate of all kinds. It leases to a diversified tenant base and has a portfolio of approximately 16 commercial real estate assets across the Philippines with an aggregate gross leasable area (GLA) of 480,479 square kilometers. The Company's portfolio consists of commercial spaces primarily leased for office purposes, with minimal retail spaces on some of the properties to support the needs of office tenants. Its properties include Robinsons Equitable Tower, Robinsons Summit Center, Cyberscape Alpha, Cyberscape Beta, Tera Tower, Cyber Sigma, Exxa-Zeta Tower, Robinsons Cyberscape Gamma, Robinsons Cybergate Center 2, Robinsons Cybergate Center 3, Robinsons Cybergate Cebu, Galleria Cebu, Luisita BTS 1, and Cybergate Naga.