General Announcement::Declaration of Property Dividends - Amendment

Issuer & Securities

Issuer/ Manager
BANK OF THE PHILIPPINE ISLANDS
Securities
BANKOFPHILIS US$600M4.25%N2309 - XS1841618421 - FNDB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Jun-2023 16:52:26
Status
New
Announcement Sub Title
Declaration of Property Dividends - Amendment
Announcement Reference
SG230626OTHRL4MO
Submitted By (Co./ Ind. Name)
Maria Ramona O. Ang
Designation
Investor Relations Officer
Description (Please provide a detailed description of the event in the box below)
Update on the Property Dividend Tax Reimbursement

In relation to BPI s 15 June 2023 and 19 June 2023 disclosures on the sale of a portion of the Property Dividend sufficient to reimburse BPI for the Property Dividend Tax paid and the updated Public Ownership Report respectively, please be advised that 18,262,683 common shares, which corresponds to the fractional shares and shares withheld for property dividend tax purposes, were transferred to BPI Asset Management Trust Corporation ( BPI-AMTC ) on 16 June 2023 in accordance with the Property Dividend Distribution Guidelines.

On 21 June 2023, BPI subsequently determined that there was an excess of 334,902 common shares transferred to BPI-AMTC.

Immediately upon determining the excess transfer, a cross trade was made between BPI-AMTC and PCD Nominee Corp. for the transfer back to PCD Nominee Corp. of the 334,902 common shares held for the account of the relevant stockholders of BPI.

The relevant stockholders may expect to receive their Property Dividends shares starting today, 21 June 2023, in accordance with the Property Dividend Distribution Guidelines. Certain stockholders may expect an upward adjustment to the number of Property Dividend shares they will receive to account for the correction in the shares transferred to BPI-AMTC. The adjustments are expected to be made/completed on 26 June 2023. In addition, based on the request of certain PDTC depository participants to amend their previously submitted schedules of Authorizing and Non-Authorizing Stockholders, a total of 1,367,615 common shares are also expected to be delivered to the relevant Stockholders on 26 June 2023. Non-Authorizing Stockholders shall receive their Property Dividend shares at a later date in accordance with the Property Dividend Distribution Guidelines.

This is an amendment to the June 20 disclosure https://links.sgx.com/1.0.0/corporate-announcements/8SK0SN773HV3SRIZ/812bb86b5ed8983e0be5974c36e8ef52d5419f9c2dceedbc33a0039028a743a1 to provide updates on the subsequent events following the cross of the Property Dividend Shares on 16 June 2023.

The ff. regulators have been duly informed of the same:
1. Philippine Securities and Exchange Commission (SEC)
2. Philippine Stock Exchange (PSE)
https://edge.pse.com.ph/openDiscViewer.do?edge_no=a73b2450e46539b99e4dc6f6c9b65995
3. Philippine Dealing and Exchange Corporation (PDEx)

Attachments

SEC 17C - Update on the Property Dividend Tax Reimbursement.pdf
Total size =592K