Century Pacific Food, Inc.PSE: CNPF

Acquisition or Disposition of Assets

· Issued by Century Pacific Food, Inc.
SECURITIES AND EXCHANGE COMMISSION
SEC 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) Jun 1, 20222. SEC Identification Number CS2013207783. BIR Tax Identification No. 008-647-5894. Exact name of issuer as specified in its charter Century Pacific Food, Inc.5. Province, country or other jurisdiction of incorporation MANILA, PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office 7/F Centerpoint Building, Julia Vargas Avenue cornert Garnet Road, Ortigas Center, Pasig CityPostal Code16058. Issuer's telephone number, including area code (02) 8633 85559. Former name or former address, if changed since last report -10. 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 Shares 3,542,258,595
11. Indicate the item numbers reported herein Item 9: Other Events

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.

Century Pacific Food, Inc.CNPF PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Century finalizes purchase of LIGO Assets with acquisition of Ligo Manufacturing facility in Zamboanga

Background/Description of the Disclosure

Century Pacific Food, Inc (CNPF) finalizes the purchase of Ligo assets with the acquisition of operational assets related to the manufacturing of Ligo products. CNPF acquired the building facilities and equipment to manufacture Ligo products in Zamboanga, Philippines.

Date of Approval by
Board of Directors 		Jun 1, 2022
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

Ligo is a leading brand in the sardine category. Ligo will be highly synergistic with the rest of CNPF's shelf stable marine products.

This will be an accretive, bolt on acquisition. CNPF foresees synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is aligned with the Company's mission to provide affordable nutrition to its consumers. CNPF has a long-standing business in the sardine category. The Company will be leveraging its scale and capability to create more value for the brand, which will in turn strengthen its core business.

The acquisition of the manufacturing facility and equipment will enable the Company to produce Ligo in Zamboanga, Philippines.

Details of the acquisition or disposition
Date Jun 1, 2022
Description of the Transaction

CNPF purchased building facilities and equipment in relation to the manufacturing of Ligo products in Zamboanga, Philippines.

Manner

The parties executed Deeds of Absolute Sale of the building and equipment on June 1, 2022.

Description of the assets involved

Building facilities and equipment in relation to the manufacturing of Ligo products in Zamboanga, Philippines.

Terms and conditions of the transaction
Nature and amount of consideration given or received

Less than 1% of total assets of the company as of March 31, 2022

Principle followed in determining the amount of consideration

Appropriate financial and operational due diligence customary to this kind of transaction

Terms of payment

100% of the consideration was paid through cash

Conditions precedent to closing of the transaction, if any

None

Any other salient terms

Not applicable

Identity of the person(s) from whom the assets were acquired or to whom they were sold
Name Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Dragon Land Holdings Corporation None
A. Tung Chingco Manufacturing Corporation None
Effect(s) on the business, financial condition and operations of the Issuer, if any

The acquisition will effectively increase revenues and earnings of CNPF and allow the company to manufacture Ligo products in Zamboanga, Philippines.

Other Relevant Information

None

If the transaction being reported is an acquisition, kindly submit the following additional information:
Source(s) of funds

Internal cashflow

If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes

The building facilities and equipment were used in relation to the manufacturing of Ligo products. CNPF intends to utilize these assets for the same purpose.

Filed on behalf by:
Name Maria Rosario Ybanez
Designation Compliance Officer

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