General Announcement::Reply to PSE's Request for Confirmation relating to the ELS

Issuer & Securities

Issuer/ Manager
EMPERADOR INC.
Securities
EMPERADOR INC. - PHY2290T1044 - EMI
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
15-Jul-2022 16:51:01
Status
New
Announcement Sub Title
Reply to PSE's Request for Confirmation relating to the ELS
Announcement Reference
SG220715OTHRVNJ7
Submitted By (Co./ Ind. Name)
Anna Michelle T. Llovido
Designation
Corporate Secretary
Effective Date and Time of the event
15/07/2022 16:50:00
Description (Please provide a detailed description of the event in the box below)
Please be informed that Emperador Inc. (the Company) has filed the attached Response to the Philippine Stock Exchange's request for confirmation whether the Tranche 2 Conversion Shares pursuant to the Equity Linked Securities agreement (ELS) between the Company and Arran Investment PTE Ltd. (Arran), have been issued to Arran on 14 July 2022

Anna Michelle T. Llovido
Corporate Secretary
15 July 2022

Collection and payment of stock transaction tax ( STT ) on the sale of shares of Emperador Inc. ( EMI ) traded on the Singapore Exchange Securities Trading Limited ( SGX-ST ) to the Philippines Bureau of Internal Revenue ( BIR )

The trading of EMI s shares on the SGX-ST is subject to a STT of 0.6% of the gross selling price or gross value in money of the shares sold. The term gross selling price or gross value in money refers to the total amount of money or its equivalent which the purchaser pays the seller as consideration for the shares. STT is a final tax due on and payable by the seller of the shares, and is required to be collected by and paid to the Philippine tax authorities by the selling stockbroker on behalf of the seller. Failure by shareholders or Singapore brokers to pay or to remit STT payable to the BIR may result in a breach of law and/or contract.

The STT payable by a selling shareholder of EMI s shares traded on the SGX-ST will be collected and withheld by his Singapore broker on his behalf at the date of settlement of the trade. Singapore brokers may remit the collected STT to the BIR via BDO Securities Corporation ( BDO ), which has been appointed by EMI as the receiving and remitting agent (the Receiving Agent ), or may choose to remit the collected STT to the BIR via other avenues, such as through their Philippines affiliated brokers.

As of the date of this announcement, the following Singapore brokers have been onboarded with BDO as the Receiving Agent:

CGS-CIMB Securities (Singapore) Pte. Ltd.;
CLSA Singapore Pte Ltd;
Daiwa Capital Markets Singapore Limited;
DBS Vickers Securities (Singapore) Pte Ltd;
Lim & Tan Securities Pte Ltd;
Macquarie Capital Securities (Singapore) Pte. Limited;
Maybank Securities Pte. Ltd;
Philip Securities Pte Ltd;
Tiger Brokers (Singapore) Pte Ltd;
UBS Securities Pte Ltd; and
UOB Kay Hian Private Limited.

In the event that a Singapore broker has arranged to remit the collected STT to the BIR via the Receiving Agent and such arrangement is terminated by either the Singapore broker or the Receiving Agent, or in the event that the Receiving Agent no longer acts as the receiving and remitting agent for any reason, the Singapore broker will need to provide alternative modes of STT payment to comply with the applicable regulations (including ensuring that they have in place the necessary procedures and controls in the collection, withholding, remittance and reporting of the STT for the sale of EMI s shares on the SGX-ST in order to continue offering services to facilitate the trading of EMI s shares on the SGX-ST). Until such Singapore broker is able to provide an alternative payment method, selling shareholders trading through such Singapore broker may be unable to trade EMI s shares on the SGX-ST.

Please refer to https://www.emperadorbrandy.com/payment-of-stock-transaction-tax.html as well as EMI s introductory document dated 20 June 2022 (the Introductory Document ) for further details regarding the collection and payment of STT on the sale of shares of EMI traded on the SGX-ST to the BIR. The information in the Introductory Document is provided strictly for information only and should be read as of its date. The information is not and does not constitute or form part of, and is not made in connection with, any offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of any entity.

Prospective purchasers and holders of EMI s shares on the SGX-ST are advised to consult their own advisers concerning the tax, legal and other consequences of their purchasing, holding, disposing of or dealing in EMI s shares and to consult with their respective Singapore brokers in respect of the payment of STT and additional fees and charges (if any) that may apply in respect of the payment of STT to the BIR.

Attachments

Reply to PSE Query on ELS Conversion Shares.pdf
Total size =293K