OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Aug 18, 20222. SEC Identification Number PW5383. BIR Tax Identification No. 000-225-4424. Exact name of issuer as specified in its charter FAR EASTERN UNIVERSITY, INC.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office Nicanor Reyes Street, Sampaloc, Manila Postal CodePostal Code10158. Issuer's telephone number, including area code 02-8735-86869. Former name or former address, if changed since last report Not Applicable10. 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 | 24,055,763 |
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.
Far Eastern University, IncorporatedFEU PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another CorporationReferences: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
Investment of Far Eastern University, Inc. in Good Samaritan Colleges, Inc. |
| Background/Description of the Disclosure |
In Far Eastern University's ("FEU") board meeting on August 16, 2022, the Board of Trustees approved an equity investment of up to Seventy Million Pesos (P70,000,000.00) in Good Samaritan Colleges, Inc. ("GSC"), an educational institution that offers junior and senior high school, tertiary and graduate school education in Cabanatuan City, Nueva Ecija. |
|
Date of Approval by Board of Directors | Aug 16, 2022 |
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
This would also allow both schools to partner together in expanding the educational offerings and operations of GSC in Cabanatuan. |
| Date | TBA |
| Manner |
FEU will acquire Seventy-Seven Thousand Two Hundred Seventy-Three (77,273) shares of common stock of GSC, which is equivalent to 34% of the outstanding capital stock. The Board also approved the execution of an investment agreement and shareholders agreement with GSC and its shareholders, as well as any related documents and agreements. |
| Description of the company to be acquired or sold |
Good Samaritan Colleges, Inc. ("GSC") is an educational institution that offers junior and senior high school, tertiary and graduate school education in Cabanatuan City, Nueva Ecija. |
| Number of shares to be acquired or disposed | 77,273 |
| Percentage to the total outstanding shares of the company subject of the transaction | 34 |
| Price per share | TBD |
| Nature and amount of consideration given or received |
Up to Seventy Million Pesos (P70,000,000.00) |
| Principle followed in determining the amount of consideration |
TBD |
| Terms of payment |
TBD |
| Conditions precedent to closing of the transaction, if any |
TBD |
| Any other salient terms |
TBD |
| Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates |
| Good Samaritan Colleges, Inc. | None |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
This would also allow FEU and GSC to partner together in expanding the educational offerings and operations of GSC in Cabanatuan. |
| Other Relevant Information |
Board of Trustees of Far Eastern University's ("FEU") approved today, 16 August 2022, approved an investment in Seventy-Seven Thousand Two Hundred Seventy-Three (77,273) shares of common stock in Good Samaritan Colleges, Inc. ("GSC"), which represents 34% of GSC's outstanding capital stock, for a total subscription price of up to Seventy Million Pesos (P70,000,000.00). |
| Name | MA. CRISTINA TALAMPAS |
| Designation | ADMINISTRATION MANAGER |