Liberty Flour Mills : Material Information/Transactions
April 21, 2022 at 01:15 am EDT
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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) Apr 20, 20222. SEC Identification Number 147823. BIR Tax Identification No. 000-128-846-0004. Exact name of issuer as specified in its charter LIBERTY FLOUR MILLS INC.5. Province, country or other jurisdiction of incorporation METRO MANILA6. Industry Classification Code(SEC Use Only) 7. Address of principal office Liberty Building, 835 A. Arnaiz Avenue, Makati CityPostal Code12008. Issuer's telephone number, including area code +6328889250119. 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
150,000,000
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.
Liberty Flour Mills, Inc.LFM
PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Board approval of a Property Purchase in the Municipality of Lemery, Province of Batangas
Background/Description of the Disclosure
In a meeting held on April 20, 2022 the Board of Directors of the Company approved the purchase of a parcel of land located in the Municipality of Lemery, Province of Batangas, with a total consolidated area of roughly 3.1 hectares, held by 8 different owners (the "Property"), for a total consideration of roughly PhP260 Million, further authorizing and delegating to the President, Sandra Judy Uy, the power to sign the necessary documentation relating to the sale. Currently, the Company is drafting the transaction documents containing its proposed terms (such as conditions precedent, conditions to closing, and conditions subsequent) for the sale, which will be subject to the negotiation and revisions of the parties.
For the information of the Honorable Commission, the Exchange, and the investing public, the sale has not been consummated, as the parties are in the process of negotiating and finalizing the sale documentation.
This disclosure and report is being made to inform the investing public of the Company's plans to make a significant asset purchase. More details will be provided, and the proper filings and disclosures made to the Honorable Commission, the Exchange, and the investing public when there are further developments relating to the purchase of the Property.
Other Relevant Information
Please note that this report and disclosure contains soft information and/or forward-looking information which includes: (a) the approval and execution of the final version of the sale/ transaction documents relative to the sale, as these documents are under negotiation; and (b) the actual purchase price, and the specific properties and the area to be purchased. As disclosed, the transaction documentation is still subject to negotiation, and the property is held by 8 different individuals. Consequently, there is a possibility that the parties fail to arrive at a mutual agreement for the terms of the transaction documents, or an individual will choose not to sell their portion of the Property.
The amendment to the original disclosure is to amend the number of owners of the Property (from 9 to 8) provided in the indication of disclosure of soft information as well as attaching an amended SEC form 17-C with a similar amendment.
Filed on behalf by:
Name
Michael John Jr. Tantoco
Designation
Company Information Officer
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Liberty Flour Mills Inc. published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 05:14:05 UTC.
Liberty Flour Mills, Inc. is a Philippines-based company engaged in the business of manufacturing various kinds of bakery flour and flour related products. The Companyâs bakery flour segment is engaged in manufacturing of flour and distribution/sales of its produce. Its mill feed segment engaged in the utilization of its by-products and distribution/sales of its produce. Its real estate and investment segment is engaged in leasing of office and commercial units and investment in securities. Its primary products include bakery flour and mill feed. El Superior and LFM Bakers are the Companyâs flour products which undergo the same processes as the other flour products it produces. These products are hard variety of flour for making pandesal and loaf bread. Pine Tree and LFM Soft are soft variety of flour which are used for making biscuits and cookies. Pine Tree and LFM soft are marketed by Trade Demands Corporation and Liberty Commodities Corporation.
LIBERTY FLOUR MILLS, INC. 
