General Announcement::ACEIC approves sale of ACEN shares to Ayala Corporation

Issuer & Securities

Issuer/ Manager
ACEN FINANCE LIMITED
Securities
ACEN FIN US$400M4%N - XS2382032956 - ZDJB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-May-2022 16:07:42
Status
New
Announcement Sub Title
ACEIC approves sale of ACEN shares to Ayala Corporation
Announcement Reference
SG220503OTHR7EF8
Submitted By (Co./ Ind. Name)
AC Energy Corporation / Irene S. Maranan
Designation
Head, Corporate Communications and Sustainability
Effective Date and Time of the event
29/04/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of AC Energy and Infrastructure Corporation ("ACEIC") approved the sale of up to 1,861,000,000 common shares in AC Energy Corporation (PSE: ACEN) to its parent company Ayala Corporation (PSE:AC) via a block sale at prevailing market prices. ACEIC is a wholly owned subsidiary of AC.

The Board has delegated authority to the ACEIC President, John Eric T. Francia and CFO, Ma. Cecilia T. Cruzabra, acting jointly, to negotiate and determine the specific terms and conditions of the proposed sale, including the transaction price, as well as to appoint a broker to implement the sale of ACEN shares and to finalize the terms of engagement of such broker.

Upon completion of the sale of ACEN shares to AC (assuming full sale of 1,861,000,000 common shares), ACEIC's ownership in ACEN will go down from 62.5% to 57.8%.

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About ACEN (Formerly AC Energy)

ACEN is the listed energy platform of the Ayala Group. The company has ~3,800 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia. The company's renewable share of capacity is at 87%, among the highest in the region.

ACEN's aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5,000 MW of renewables capacity by 2025. In October 2021, ACEN announced its commitment to achieve net-zero greenhouse gas emissions by 2050.

www.acen.com.ph


For inquiries and more information, please contact:

Irene Maranan
Head - Corporate Communications and Sustainability
Email: maranan.is@acenergy.com.ph