Annex C - As Amended

ANNEX C, AS AMENDED ( SRC Rule 12 ) NON-FINANCIAL DISCLOSURE REQUIREMENTS PART I BUSINESS (A) Description of Business.
(1) Business Development Describe t e !evelopment of t e business of t e re"istr#nt #n! its si"nific#nt subsi!i#ries !urin" t e p#st t ree ($) %e#rs& or suc s orter perio! #s t e re"istr#nt m#% #ve been en"#"e! in business. If t e re"istr#nt #s not been in business for t ree %e#rs& "ive t e s#me inform#tion for pre!ecessor(s) of t e re"istr#nt if t ere is #n%. T is business !evelopment !escription s oul! inclu!e& for t e re"istr#nt #n! its subsi!i#ries& t e follo'in"( (#) (b) (c) )orm #n! date of or"#ni*#tion+ An% b#n,ruptc%& receivers ip or simil#r procee!in"+ #n! An% m#teri#l recl#ssific#tion& mer"er& consoli!#tion& or purc #se or s#le of # si"nific#nt #mount of #ssets not in t e or!in#r% course of business.
(-)
Business of Issuer( T is section s #ll !escribe in !et#il ' #t business t e re"istr#nt !oes #n! proposes to !o& inclu!in" ' #t pro!ucts or "oo!s #re or 'ill be pro!uce! or services t #t #re or 'ill be ren!ere!. (#) Description of Re"istr#nt Briefl% !escribe t e business of re"istr#nt #n! its si"nific#nt subsi!i#ries #n! inclu!e& to t e e.tent m#teri#l to #n un!erst#n!in" of t e re"istr#nt( (i) Princip#l pro!ucts or services #n! t eir m#r,ets in!ic#tin" t e rel#tive contribution to s#les or revenues of e#c pro!uct or service& or "roup of rel#te! pro!ucts or services& ' ic contribute ten percent (1/0) or more to s#les or revenues. If t e rel#tive contribution to net income of #n% pro!uct or service& or "roup of rel#te! pro!ucts or services& is subst#nti#ll% !ifferent t #n its rel#tive contribution to s#les or revenues& #ppropri#te inform#tion s oul! be "iven+ Percent#"e of s#les or revenues #n! net income contribute! b% forei"n s#les (bro,en !o'n into m#1or m#r,ets suc #s 'estern Europe& Sout e#st Asi#& etc.) for e#c of t e l#st t ree %e#rs+ Distribution met o!s of t e pro!ucts or services+ St#tus of #n% publicl%2#nnounce! ne' pro!uct or service (e.". ' et er in t e pl#nnin" st#"e& ' et er protot%pes e.ist)& t e !e"ree to ' ic pro!uct !esi"n #s pro"resse! or ' et er
(ii)
(iii) (iv)
Annex C SRC Rule 12 December 2003
furt er en"ineerin" is necess#r%. In!ic#te if completion of !evelopment of t e pro!uct 'oul! re3uire # m#teri#l #mount of t e resources of t e re"istr#nt& #n! t e estim#te! #mount+ (v) 4ompetition. Describe t e in!ustr% in ' ic t e re"istr#nt is sellin" or e.pects to sell its pro!ucts or services& #n! ' ere #pplic#ble& #n% reco"ni*e! tren!s 'it in t #t in!ustr%. Describe t e p#rt of t e in!ustr% #n! t e "eo"r#p ic #re# in ' ic t e business competes or 'ill compete. I!entif% t e princip#l met o!s of competition (price& service& '#rr#nt% or pro!uct perform#nce). N#me t e princip#l competitors t #t t e re"istr#nt #s or e.pects to #ve in its #re# of competition. In!ic#te t e rel#tive si*e #n! fin#nci#l #n! m#r,et stren"t s of t e re"istr#nt5s competitors. St#te ' % t e re"istr#nt believes t #t it c#n effectivel% compete 'it ot er comp#nies in its #re# of competition. Sources #n! #v#il#bilit% of r#' m#teri#ls #n! t e n#mes of princip#l suppliers+ If t e re"istr#nt is or is e.pecte! to be !epen!ent upon one or # limite! number of suppliers for essenti#l r#' m#teri#ls& ener"% or ot er items& !escribe. Describe #n% m#1or e.istin" suppl% contr#cts.
(vi)
(vii) Disclose o' !epen!ent t e business is upon # sin"le customer or # fe' customers& t e loss of #n% or more of ' ic 'oul! #ve # m#teri#l #!verse effect on t e re"istr#nt #n! its subsi!i#ries t#,en #s # ' ole. I!entif% #n% customer t #t #ccounts for& or b#se! upon e.istin" or!ers 'ill #ccount for& t'ent% percent (-/0) or more of t e re"istr#nt5s s#les+ Describe #n% m#1or e.istin" s#les contr#cts+ (viii) (i.) Tr#ns#ctions 'it #n!6or !epen!ence on rel#te! p#rties+ Summ#ri*e t e princip#l terms #n! e.pir#tion !#tes of #ll p#tents& tr#!em#r,s& cop%ri" ts& licenses& fr#nc ises& concessions& #n! ro%#lt% #"reements el!+ In!ic#te t e e.tent to ' ic t e re"istr#nt5s oper#tions !epen!& or #re e.pecte! to !epen!& on t e fore"oin" #n! ' #t steps #re un!ert#,en to secure t ese ri" ts+ Nee! for #n% "overnment #pprov#l of princip#l pro!ucts or services. If "overnment #pprov#l is necess#r% #n! t e re"istr#nt #s not %et receive! t #t #pprov#l& !iscuss t e st#tus of t e #pprov#l 'it in t e "overnment #pprov#l process+ Effect of e.istin" or prob#ble "overnment#l re"ul#tions on t e business+ In!ic#te t e #mount spent on rese#rc #n! !evelopment #ctivities& #n! its percent#"e to revenues !urin" e#c of t e l#st t ree fisc#l %e#rs+ 4osts #n! effects of compli#nce 'it environment#l l#'s+
(.)
(.i) (.ii)
(.iii)
(.iv)
St#te t e number of t e re"istr#nt5s present emplo%ees #n! t e number of emplo%ees it #nticip#tes to #ve 'it in t e ensuin" t'elve (1-) mont s. In!ic#te t e number b% t%pe of emplo%ee (i.e. cleric#l& oper#tions& #!ministr#tive& etc.)& ' et er or not #n% of t em #re sub1ect to collective b#r"#inin" #"reements (4BA) #n! t e e.pir#tion !#tes of #n% 4BA. If t e re"istr#nt5s emplo%ees #re on stri,e& or #ve been in t e p#st t ree ($) %e#rs& or #re t re#tenin" to stri,e& !escribe t e !ispute. In!ic#te #n% supplement#l benefits or incentive #rr#n"ements t e re"istr#nt #s or 'ill #ve 'it its emplo%ees+ Discuss the major risk/s involved in each of the businesses of the company and subsidiaries. Include a disclosure of the procedures being undertaken to identify, assess and manage such risks.
(xv)
(b)
A!!ition#l Re3uirements #s to 4ert#in Issues or Issuers (i) Debt Issues A st#tement t #t t e re"istr#nt7s net 'ort e.cee!s P-8 million& #n! if unsecure! bon!s #re to be issue!& t #t t e re"istr#nt #s been in business for t ree %e#rs& unless t e 4ommission b#se! upon # consi!er#tion of #ll #spects of t e m#tter& !etermines t #t it 'oul! not be inconsistent 'it t e public interest to permit # v#ri#tion of t ese provisions. (ii) Investment 4omp#n% Securities A. # st#tement of its propose! oper#tion inclu!in" t e propose! investment ob1ectives #n! initi#l investment pl#ns+ # !escription #n! copies of propose! m#n#"ement contr#cts& !istributors ip& un!er'ritin" #n! escro' or custo!i#l #"reements& #n! suc ot er contr#cts pert#inin" to t e investment& m#n#"ement or s#le of securities+ # st#tement of tot#l fees to be c #r"e!+ !escription of involvement& if #n%& b% m#n#"ement or b% members of t e Bo#r! of Directors in comp#nies in ' ic t e investment comp#n% 'ill be !e#lin". A certific#tion concernin" suc inv lve!en"& un!er o#t & b% t e Presi!ent #n! 4 #irm#n of t e Bo#r!& or t eir e3uiv#lent in r#n,& s #ll #ccomp#n% t e re"istr#tion st#tement. #n un!ert#,in" t #t "#e $%%li&$n" #pplie! #s complie! 'it #pplic#ble re3uirements un!er t e Investment 4omp#n% Act #n! rules #!opte! t ereun!er re"#r!in"(
B.
4. D.
1. -. $. 9. 8.
its form of or"#ni*#tion+ minimum subscribe! #n! p#i!2in c#pit#l+ composition of Bo#r! of Directors+ composition of c#pit#l stoc, (common #n! votin" s #res)+ t e '#iver of preemptive ri" ts of s #re ol!ers in its Articles of Incorpor#tion.
************************************* Instructions for Part I, Paragraph (A)(2)(b)(ii) Investment Companies are regulated by the Investment Company Act and rules and regulations adopted thereunder. he provisions of subparagraph !. above are, pursuant to that rule, incorporate conditions for the approval of a registration statement for securities of an investment company. he provisions of "#C #ule $2 govern registration statements concerning Investment Companies. %efinitions in ICA #ule &'($ govern the use of similar terms used in this Anne) pertaining to investment companies. *************************************
(iii)
:inin" #n! ;il 4omp#nies
A st#tement !escribin" t e #re#s covere! b% re"istr#nt7s minin" cl#ims& st#tus of t e #pplic#tion #n! 'or, performe! on t e cl#ims& if #n%. (B) Description of Propert%. <ive t e loc#tion #n! !escribe t e con!ition of t e princip#l properties (suc #s re#l est#te& pl#nt #n! e3uipment& mines& p#tents& etc.) t #t t e re"istr#nt #n! its subsi!i#ries o'n. Disclose any mortgage, lien or encumbrance over the property and describe the limitations on o nership or usage over the same . In!ic#te #lso ' #t properties it le#ses& t e #mount of le#se p#%ments& e.pir#tion !#tes #n! t e terms of rene'#l options. In!ic#te ' #t properties t e re"istr#nt inten!s to #c3uire in t e ne.t t'elve (1-) mont s& t e cost of suc #c3uisitions& t e mo!e of #c3uisition (i.e. b% purc #se& le#se or ot er'ise) #n! t e sources of fin#ncin" it e.pects to use+ (4) =e"#l Procee!in"s. Describe briefl% #n% m#teri#l pen!in" le"#l procee!in"s to ' ic t e re"istr#nt or #n% of its subsi!i#ries or #ffili#tes is # p#rt% or of ' ic #n% of t eir propert% is t e sub1ect. Inclu!e t e n#me of t e court or #"enc% in ' ic t e procee!in"s #re pen!in"& t e !#te institute!& t e princip#l p#rties t ereto& # !escription of t e f#ctu#l b#sis #lle"e! to un!erlie t e procee!in" #n! t e relief sou" t. Inclu!e simil#r inform#tion #s to #n% suc procee!in"s ,no'n to be contempl#te! b% "overnment#l #ut orities or #n% ot er entit%.
************************************************************* Instructions to Part I Paragraph C
A proceeding that primarily involves a claim for damages does not need to be described if the amount involved, e)clusive of interest and costs, does not e)ceed $*+ of the current assets of the registrant. *********************************************************
PART II SE4URITIES ;) T>E RE<ISTRANT (A) :#r,et Price of #n! Divi!en!s on Re"istr#nt7s 4ommon E3uit% #n! Rel#te! Stoc, ol!er :#tters (1) :#r,et Inform#tion (#) I!entif% t e princip#l m#r,et or m#r,ets ' ere t e re"istr#nt7s common e3uit% is tr#!e!. St#te if t ere is no public tr#!in" m#r,et. (i) If t e princip#l m#r,et for t e re"istr#nt7s common e3uit% is # Stoc, E.c #n"e in t e P ilippines or # forei"n E.c #n"e& st#te t e n#me of t #t E.c #n"e #n! "ive t e i" #n! lo' s#les prices for e#c 3u#rter 'it in t e l#st t'o fisc#l %e#rs #n! #n% subse3uent interim perio! for ' ic fin#nci#l st#tements #re re3uire! b% SR4 Rule ?@. If t e prices st#te! #re from # forei"n E.c #n"e& t e% s #ll be st#te! in t e currenc% in ' ic t e% #re 3uote!. T e re"istr#nt m#% tr#nsl#te suc prices into P ilippine currenc% #t t e offici#l currenc% e.c #n"e r#te in effect on t e !#te t e price !isclose! '#s reporte! on t e forei"n e.c #n"e& inclu!in" !isclosure of t e e.c #n"e r#te use! for t e c#lcul#tion. If t e princip#l m#r,et is not #n E.c #n"e& st#te t e fre3uenc% 'it ' ic tr#!in" occurs+ if spor#!ic& so st#te+ "ive t e r#n"e of i" #n! lo' bi! inform#tion for t e re"istr#nt7s common e3uit% for e#c 3u#rter 'it in t e l#st t'o fisc#l %e#rs #n! #n% subse3uent interim perio! for ' ic fin#nci#l st#tements #re re3uire! b% SR4 Rule ?@. S o' t e source of st#tements re"#r!in" fre3uenc% of tr#!in" #n! t e i" #n! lo' bi! inform#tion.
(ii)
(b)
If t e inform#tion c#lle! for b% p#r#"r#p (A) of t is P#rt is bein" presente! in # re"istr#tion st#tement file! pursu#nt to Section 1- or in #n #nnu#l report file! pursu#nt to Section 1A or in #n inform#tion st#tement file! pursu#nt to Section -/ of t e 4o!e& respectivel%& t e !ocument s #ll #lso inclu!e price inform#tion #s of t e l#test pr#ctic#ble tr#!in" !#te& #n!& in t e c#se of securities to be issue! in connection 'it #n #c3uisition& business combin#tion or ot er reor"#ni*#tion& #s of t e tr#!in" !#te imme!i#tel% prior to t e public #nnouncement of suc tr#ns#ction. If t e inform#tion c#lle! for b% p#r#"r#p (A) of t is P#rt is bein" presente! in # re"istr#tion st#tement rel#tin" to # cl#ss of common e3uit% for ' ic #t t e time of filin" t ere is no est#blis e! public tr#!in" m#r,et in t e P ilippines& in!ic#te t e #mounts of common e3uit%( (i) t #t is sub1ect to outst#n!in" options or '#rr#nts to purc #se& or securities convertible into& common e3uit% of t e re"istr#nt+
(c)
(ii)
t #t is bein" or #s been propose! to be publicl% offere! b% t e re"istr#nt& unless suc common e3uit% is bein" offere! pursu#nt to #n emplo%ee benefit or stoc, options pl#n& t e offerin" of ' ic coul! #ve # m#teri#l effect on t e m#r,et price of t e re"istr#nt7s common e3uit%.
(-)
>ol!ers (#) Set fort t e #ppro.im#te number of ol!ers of e#c cl#ss of common e3uit% of t e re"istr#nt #s of t e l#test pr#ctic#ble !#te but in no event more t #n ninet% (B/) !#%s prior to filin" t e re"istr#tion st#tement. Inclu!e t e n#mes of t e top t'ent% (-/) s #re ol!ers of e#c cl#ss #n! t e number of s #res el! #n! t e percent#"e of tot#l s #res outst#n!in" el! b% e#c . If t e inform#tion c#lle! for b% t is subp#r#"r#p (-) is bein" presente! in # re"istr#tion st#tement file! pursu#nt to Section 1-& or #n inform#tion st#tement file! pursu#nt to Section -/ of t e 4o!e& t #t rel#tes to #n #c3uisition& business combin#tion or ot er reor"#ni*#tion& in!ic#te t e effect of suc tr#ns#ction on t e #mount #n! percent#"e of present ol!in"s of t e re"istr#nt7s common e3uit% o'ne! benefici#ll% b%( (i) #n% person or "roup ' o is ,no'n to t e re"istr#nt to be t e benefici#l o'ner of more t #n five percent (80) of #n% cl#ss of t e re"istr#nt7s common e3uit%+ e#c !irector #n! nominee+ #n! #ll !irectors #n! officers #s # "roup& #n! t e re"istr#nt7s present commitments to suc persons 'it respect to t e issu#nce of s #res of #n% cl#ss of its common e3uit%.
(b)
(ii) (iii)
(c)
)or purposes of subp#r#"r#p (-)(b)(i) ereof& t e term C"roupC s #ll me#n t'o or more persons #ctin" #s # p#rtners ip& limite! p#rtners ip& s%n!ic#te or ot er "roup for t e purpose of #c3uirin"& ol!in" or !isposin" of securities of #n issuer. If t e inform#tion c#lle! for b% t is subp#r#"r#p (-) is bein" presente! in # re"istr#tion st#tement file! pursu#nt to Section 1- in!ic#te t e effect of suc issu#nce on t e #mount #n! percent#"e of present ol!in"s of t e re"istr#nt7s common e3uit% ol!ers. In!ic#te t e effect of t e issu#nce on t e percent#"e of t e re"istr#nt5s securities benefici#ll% o'ne! b% forei"ners.
(!)
($)
Divi!en!s (#) Discuss #n% c#s !ivi!en!s !ecl#re! on e#c cl#ss of its common e3uit% b% t e re"istr#nt for t e t'o most recent fisc#l %e#rs #n! #n% subse3uent interim perio! for ' ic fin#nci#l st#tements #re re3uire! to be presente! b% SR4 Rule ?@.
(b) (9)
Describe #n% restriction t #t limits t e #bilit% to p#% !ivi!en!s on common e3uit% or t #t #re li,el% to !o so in t e future.
Recent S#les of Unre"istere! or !xempt Securities, Including "ecent Issuance of #ecurities $onstituting an !xempt %ransaction )urnis t e follo'in" inform#tion #s to #ll securities of t e re"istr#nt sol! b% it 'it in t e p#st t ree ($) %e#rs ' ic 'ere not re"istere! un!er t e 4o!e. Inclu!e s#les of re#c3uire! securities& #s 'ell #s ne' issues& securities issue! in e.c #n"e for propert%& services& or ot er securities& #n! ne' securities resultin" from t e mo!ific#tion of outst#n!in" securities. In!ic#te ' et er t e issuer receive! 'ritten confirm#tion from t e 4ommission un!er SR4 Rule 1/.1 t #t suc e.emptive relief from re"istr#tion '#s #v#il#ble #n!& if so& t e !#te suc confirm#tion '#s issue!( (#) Securities Sol! <ive t e !#te of s#le #n! t e title #n! #mount of securities sol!. (b) Un!er'riters #n! ;t er Purc #sers <ive t e n#mes of t e un!er'riters& if #n%. If securities 'ere not publicl% offere!& i!entif% t e persons or t e cl#ss of persons to ' om t e securities 'ere sol!+ provided ho,ever& in connection 'it securities sol! un!er Section 1/.1 of t e 4o!e #n! SR4 Rule 1/.1 (,) t ereun!er& !isclose t e !#te t #t t e re3uire! notice of suc s#le '#s provi!e! to t e 4ommission. (c) 4onsi!er#tion )or securities sol! for c#s & st#te t e tot#l offerin" price #n! t e tot#l un!er'ritin" !iscounts or commissions. )or securities sol! ot er t #n for c#s & st#te t e n#ture of t e tr#ns#ction #n! t e t%pe #n! #mount of consi!er#tion receive! b% t e re"istr#nt. (!) E.emption from Re"istr#tion 4l#ime! In!ic#te t e section of t e 4o!e or t e rule or re"ul#tion un!er ' ic #n e.emption from re"istr#tion is cl#ime! #n! st#te briefl% t e f#cts relie! upon to m#,e t e e.emption #v#il#ble.
(B)
Description of Re"istr#nt7s Securities. (1) 4ommon or Preferre! Stoc, (#) (b) (c) St#te t e #mount of c#pit#l stoc, of e#c cl#ss issue! or inclu!e! in t e s #res of stoc, to be offere!( If t e re"istr#nt is offerin" common e3uit%& !escribe #n% !ivi!en!& votin" #n! preemption ri" ts. If t e re"istr#nt is offerin" preferre! stoc,& !escribe t e !ivi!en!& votin"& conversion #n! li3ui!#tion ri" ts #s 'ell #s re!emption or sin,in" fun! provisions.
(!) (e) (-)
Describe #n% stoc, ol!ers.
ot er
m#teri#l
ri" ts
of
common
or
preferre!
Describe #n% provision in t e c #rter or b%2l#'s t #t 'oul! !el#%& !efer or prevent # c #n"e in control of t e re"istr#nt.
Debt Securities (#) If !ebt securities #re to be re"istere!( (i) (ii) st#te t e #mount of bon!e! in!ebte!ness outst#n!in" #n! to be cre#te! b% t e securit% to be offere!+ !escribe provisions in respect to t e m#turit%& interest r#te& conversion& #morti*#tion& re!emption& sin,in" fun! or retirement+ if substitution of #n% securit% is permitte!& summ#ri*e t e con!itions un!er ' ic substitution is permitte!. If substitution 'it out notice is permitte!& inclu!e # specific st#tement to t #t effect. !escribe #ll ot er m#teri#l provisions "ivin" or limitin" t e ri" ts of !ebt ol!ers. )or e.#mple& !escribe subor!in#tion provisions& limit#tions on t e !ecl#r#tion of !ivi!en!s& restrictions on t e issu#nce of #!!ition#l !ebt& m#inten#nce of #sset r#tios& securit% (coll#ter#l)& etc. "ive t e n#me of #n% trustee(s) !esi"n#te! b% t e in!enture #n! !escribe t e circumst#nces un!er ' ic t e trustee is re3uire! to #ct on be #lf of t e !ebt ol!ers+ disclose the company&s financial ratios such as current, solvency, debt'to'e(uity ratios and/or other regulatory ratios that it must meet and maintain) describe the credit ratings received including the factors considered by the independent credit rating agency in arriving at the said rating.
(iii)
(iv)
(v)
(vi)
(vii)
($)
Stoc, ;ptions If stoc, options #re to be re"istere!& t e re"istr#tion st#tement s #ll cont#in t e follo'in"( (#) # listin" of persons in ' ose f#vor t e "r#nt or issu#nce of options is to be m#!e in!ic#tin" t e number of s #res to be "iven to e#c or& if t is c#nnot be #scert#ine! #t t e time& t e formul# to be use! in !eterminin" t e number of s #res& #n! t e cost per s #re to t e recipients+
(b) (c)
t e re#sons for t e "r#nt or issu#nce& #tt#c in" t ere'it copies of t e bo#r! resolution #ut ori*in" suc +
five (8)
# !et#ile! st#tement #s to t e pl#n or sc eme b% ' ic s#i! options s #ll be e.ercise!. If options c#n be e.ercise! 'it less t #n fort% percent (9/0) of t e tot#l price of t e s #res so purc #se!& !isclosure must be m#!e of t e met o! b% ' ic furt er p#%ments of t e e.ercise price 'ill be m#!e. If t e comp#n% provi!es or #rr#n"es for lo#ns to en#ble officers& !irectors or emplo%ees to e.ercise t eir options& t e !et#ils of suc #rr#n"ements s #ll be !isclose!. # certific#tion from t e 4orpor#te Secret#r% st#tin" t #t #ut ori*#tion for t e options '#s #pprove! in # stoc, ol!ers meetin" b% stoc, ol!ers ol!in" #t le#st -6$ of t e outst#n!in" votin" s #res of t e corpor#tion& e.clusive of Tre#sur% s #res. T e certific#tion s #ll #lso st#te t e number of s #res represente! #t t e meetin" #n! t e number of s #res vote! for #n! #"#inst t e propos#l to "r#nt options to t e !irectors or m#n#"in" "roups or its officers.
(!)
(9)
Securities Sub1ect to Re!emption or 4#ll D ere convertible securities t #t #re sub1ect to re!emption or c#ll #re bein" re"istere!& t e !escription of t e conversion terms of t e securities s #ll !isclose( (#) (b) D et er t e ri" t to convert or purc #se t e securities 'ill be forfeite! unless it is e.ercise! before t e !#te specifie! in # notice of t e re!emption or c#ll+ T e ,in!s& fre3uenc% #n! timin" of notice of t e re!emption or c#ll& inclu!in" t e cities or ne'sp#pers in ' ic notice 'ill be publis e! (' ere t e securities provi!e for # cl#ss of ne'sp#pers or "roup of cities in ' ic t e public#tion m#% be m#!e #t t e !iscretion of t e re"istr#nt& t e re"istr#nt s oul! !escribe suc provision)+ #n! In t e c#se of be#rer securities& t #t investors #re responsible for m#,in" #rr#n"ements to prevent loss of t e ri" t to convert or purc #se in t e event of re!emption or c#ll& for e.#mple& b% re#!in" t e ne'sp#pers in ' ic t e notice of re!emption or c#ll m#% be publis e!.
(c)
(*)
+arrants (a) %he issuer shall disclose in its registration statement the terms and conditions of the arrants including computational data relative thereto. %he follo ing shall be disclosed,
(b)
i. ii. iii. iv. v. vi.
%he par or issue value, class and number of the corresponding -nderlying #hares) %he !xercise .rice, or the formula for computing the same, or adjustments thereto) !xercise .eriod and the !xpiry Date of the +arrant) %he procedure for the exercise) #ummary of the provisions contained in the +arrant Instrument. %he !xchange "atio or the number of -nderlying #hares hich may be purchased under each +arrant.
(?)
:#r,et Inform#tion for Securities ;t er T #n 4ommon E3uit% Provi!e m#r,et inform#tion 'it respect to suc securities comp#r#ble to t #t re3uire! in p#r#"r#p (A)(1) if securities ot er t #n common e3uit% #re to be re"istere! #n! t ere is #n est#blis e! public tr#!in" m#r,et for suc securities (#s t #t term is use! in p#r#"r#p (A)(1) of t is P#rt II).
(A)
;t er Securities If securities ot er t #n c#pit#l stoc,& !ebt& investment comp#n% securities& or stoc, options #re to be re"istere!& provi!e simil#r inform#tion concernin" t e m#teri#l provisions of t e securities. PART III )INAN4IA= IN);R:ATI;N
(A)
:#n#"ement5s Discussion #n! An#l%sis (:DEA) or Pl#n of ;per#tion. Re"istr#nts t #t #ve not #! revenues from oper#tions in e#c of t e l#st t'o fisc#l %e#rs& or t e l#st fisc#l %e#r #n! #n% interim perio! in t e current fisc#l %e#r for ' ic fin#nci#l st#tements #re furnis e! in t e !isclosure !ocument& shall in addition to applicable items under subparagraph (/)& provi!e t e inform#tion in subp#r#"r#p (1) ereof. (1) Pl#n of ;per#tion Describe t e pl#n of oper#tion for t e ne.t t'elve (1-) mont s. T is !escription s oul! inclu!e suc m#tters #s( (#) # !iscussion of o' lon" t e re"istr#nt c#n s#tisf% its c#s re3uirements #n! ' et er it 'ill #ve to r#ise #!!ition#l fun!s in t e ne.t t'elve (1-) mont s+ # summ#r% of #n% pro!uct rese#rc #n! !evelopment t #t t e re"istr#nt 'ill perform for t e term of t e pl#n+
(b)
10
(c) (!)
#n% e.pecte! purc #se or s#le of pl#nt #n! si"nific#nt e3uipment+ #n! #n% e.pecte! si"nific#nt c #n"es in t e number of emplo%ees.
(-) :#n#"ement5s Discussion #n! An#l%sis :DEA elps e.pl#in fin#nci#l results. A re#!er of t e :DEA s oul! un!erst#n! t e fin#nci#l results of t e re"istr#nt5s business #s !iscusse! in t e FBusinessG section. It s #ll provi!e inform#tion 'it respect to li3ui!it%& c#pit#l resources #n! ot er inform#tion necess#r% to un!erst#n!in" t e re"istr#nt5s fin#nci#l con!ition #n! results of oper#tion. T e !iscussion #n! #n#l%sis s #ll focus specific#ll% on m#teri#l events #n! uncert#inties ,no'n to m#n#"ement t #t 'oul! c#use reporte! fin#nci#l inform#tion not to be necess#ril% in!ic#tive of future oper#tin" results or of future fin#nci#l con!ition. T is 'oul! inclu!e !escriptions #n! #mounts of m#tters t #t 'oul! #ve #n imp#ct on future oper#tions #n! #ve not #! #n imp#ct in t e p#st& #n! m#tters t #t #ve #! #n imp#ct on reporte! oper#tions #n! #re not e.pecte! to #ve #n imp#ct upon future oper#tions. F ' ( "# )ull )i*&$l +e$'* $n, in"e'i! %e'i ,*, ,i*&l *e "#e & !%$n+-* $n, i"* !$. 'i"+- /ne, *u(*i,i$'ie*- " % )ive (0) 1e+ %e') '!$n&e in,i&$" '*2 I" *#$ll in&lu,e $ ,i*&u**i n ) "#e !$nne' (+ /#i&# "#e & !%$n+ &$l&ul$"e* ' i,en"i)ie* "#e in,i&$" '* %'e*en"e, n $ & !%$'$(le ($*i*2 (#) )ull fisc#l %e#rs Discuss t e re"istr#nt7s fin#nci#l con!ition& c #n"es in fin#nci#l con!ition #n! results of oper#tions for e#c of t e l#st t ree fisc#l %e#rs. If t e re"istr#nt5s fin#nci#l st#tement s o's losses from oper#tions& e.pl#in t e c#uses of t ese losses #n! t e steps t e re"istr#nt #s t#,en or is t#,in" to #!!ress t ese c#uses. T is !iscussion s oul! #!!ress t e p#st #n! future fin#nci#l con!ition #n! results of oper#tion of t e re"istr#nt& 'it p#rticul#r emp #sis on t e prospects for t e future. T e !iscussion s oul! #lso #!!ress t ose ,e% v#ri#ble #n! ot er 3u#lit#tive #n! 3u#ntit#tive f#ctors ' ic #re necess#r% to #n un!erst#n!in" #n! ev#lu#tion of t e re"istr#nt. If m#teri#l& t e re"istr#nt s oul! !isclose t e follo'in"( (i) An% ,no'n tren!s or #n% ,no'n !em#n!s& commitments& events or uncert#inties t #t 'ill result in or t #t #re re#son#bl% li,el% to result in t e re"istr#nt5s li3ui!it% incre#sin" or !ecre#sin" in #n% m#teri#l '#%. T e re"istr#nt s #ll in!ic#te b#l#nce s eet con!itions or income or c#s flo' items t #t it believes m#% be in!ic#tors of its li3ui!it% con!ition. T e follo'in" con!itions s #ll be in!ic#te!( ' et er or not t e re"istr#nt is #vin" or #nticip#tes #vin" 'it in t e ne.t t'elve (1-) mont s #n% c#s flo' or li3ui!it% problems+ ' et er or not t e re"istr#nt is in !ef#ult or bre#c of #n% note& lo#n& le#se or ot er in!ebte!ness or fin#ncin" #rr#n"ement re3uirin" it to m#,e p#%ments+ ' et er or not # si"nific#nt #mount of t e re"istr#nt5s tr#!e p#%#bles #ve not been p#i! 'it in t e st#te! tr#!e terms. If # m#teri#l !eficienc% is i!entifie!& t e
11
course of #ction t #t t e re"istr#nt #s t#,en or proposes to t#,e to reme!% t e !eficienc% s oul! #lso be in!ic#te!. T e re"istr#nt s oul! i!entif% #n! sep#r#tel% !escribe intern#l #n! e.tern#l sources of li3ui!it%& #n! briefl% !iscuss #n% sources of li3ui! #ssets use!. T e term Fli3ui!it%G refers to t e #bilit% of #n enterprise to "ener#te #!e3u#te #mount of c#s to meet its nee!s for c#s . =i3ui!it% "ener#ll% must be !iscusse! on bot # lon"2term #n! s ort2term b#sis. (ii) 0ny events that ill trigger direct or contingent financial obligation that is material to the company, including any default or acceleration of an obligation) 0ll material off'balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the company ith unconsolidated entities or other persons created during the reporting period. An% m#teri#l commitments for c#pit#l e.pen!itures& t e "ener#l purpose of suc commitments& #n! t e e.pecte! sources of fun!s for suc e.pen!itures s oul! be !escribe!+ An% ,no'n tren!s& events or uncert#inties t #t #ve #! or t #t #re re#son#bl% e.pecte! to #ve # m#teri#l f#vor#ble or unf#vor#ble imp#ct on net s#les or revenues or income from continuin" oper#tions s oul! be !escribe!. If t e re"istr#nt ,no's of events t #t 'ill c#use m#teri#l c #n"e in t e rel#tions ip bet'een costs #n! revenues (suc #s ,no'n future incre#ses in cost of l#bor or m#teri#ls or price incre#ses or inventor% #!1ustments)& t e c #n"e in t e rel#tions ip s #ll be !isclose!. An% si"nific#nt elements of income or loss t #t !i! not #rise from t e re"istr#nt7s continuin" oper#tions+ T e c#uses for #n% m#teri#l c #n"e from perio! to perio! hich shall include vertical and hori1ontal analyses of any material item) %he term 2material3 in this section shall refer to changes or items amounting to five percent (*4) of the relevant accounts or such lo er amount, hich the registrant deems material on the basis of other factors. (viii) (b) An% se#son#l #spects t #t #! # m#teri#l effect on t e fin#nci#l con!ition or results of oper#tions.
(iii)
(iv)
(v)
(vi) (vii)
Interim Perio!s If interim fin#nci#l st#tements #re inclu!e! in t e re"istr#tion st#tement or report& provi!e # comp#r#ble !iscussion t #t 'ill en#ble
12
t e re#!er to #ssess m#teri#l c #n"es in fin#nci#l con!ition #n! results of oper#tions since t e en! of t e l#st fisc#l %e#r #n! for t e comp#r#ble interim perio! in t e prece!in" %e#r. %he company shall disclose the re(uired information under subparagraph (/)(a)(i) to (viii) above. (B) 4 #n"es in #n! Dis#"reements 'it Disclosure. (1) Account#nts on Accountin" #n! )in#nci#l
If !urin" t e re"istr#nt7s t'o most recent fisc#l %e#rs or #n% subse3uent interim perio!& #n in!epen!ent #ccount#nt ' o '#s previousl% en"#"e! #s t e princip#l #ccount#nt to #u!it t e re"istr#nt7s fin#nci#l st#tements& or #n in!epen!ent #ccount#nt ' o '#s previousl% en"#"e! to #u!it # si"nific#nt subsi!i#r%& ce#se! performin" services for re"istr#nt& !isclose t e n#me of t e previous #ccount#nt or the handling partner in case of a firm & reason/s for the cessation of service #n! t e !#te of is resi"n#tion& !ismiss#l or cess#tion of performin" services for re"istr#nt. Describe !is#"reements& if t ere 'ere #n%& 'it t e former #ccount#nt on #n% m#tter of #ccountin" principles or pr#ctices& fin#nci#l st#tement !isclosure& or #u!itin" scope or proce!ure ' ic & if not resolve! to t e s#tisf#ction of t e former #ccount#nt& 'oul! #ve c#use! it to m#,e reference to t e sub1ect m#tter of t e !is#"reement(s) in connection 'it its report. If t ere 'ere #n% !is#"reements #s !escribe! in subp#r#"r#p (-)& t e re"istr#nt s #ll re3uest t e former #ccount#nt to furnis t e re"istr#nt 'it # letter #!!resse! to t e 4ommission st#tin" ' et er it #"rees 'it t e st#tements m#!e b% t e re"istr#nt #n!& if not& st#tin" t e respects in ' ic it !oes not #"ree. T e re"istr#nt s #ll file t e former #ccount#nt7s letter #s #n e. ibit to t e report or re"istr#tion st#tement cont#inin" t is !isclosure.
****************************************************************** Instructions to Part III, Paragraph (-)
(-)
($)
$.
he disclosure called for by paragraph (-) need not be provided if it has been previously reported. he registrant shall furnish each accountant ,ho ,as engaged during the period set forth in paragraph (-)($) of this Part III ,hen disclosure is re.uired by paragraph (-) in an annual report filed pursuant to "#C #ule $/ (2)(a), or in a information statement filed pursuant to the re.uirements of "#C #ule 2*.. If any such accountant believes that the statements are incorrect or incomplete, he0she may present his0her vie,s in a brief statement, ordinarily e)pected not to e)ceed 2** ,ords, to be included in the annual report or pro)y or information statement. his statement shall be submitted to the registrant ,ithin ten ($*) business days from the date the accountant receives the registrant1s disclosure. he registrant shall file an "!C 2orm $/(C along ,ith the annual report or pro)y or information statement for the purpose of filing the ,ritten vie,s as e)hibits. he information re.uired by Part III, paragraph (-) need not be provided for a company being ac.uired by the registrant if the ac.uiree has not been sub3ect to the filing re.uirements of "ection $/ of the Code.
2.
&.
13
4.
In determining ,hether any disagreement or reportable event has occurred, an oral communication from the engagement partner or another person responsible for rendering the accounting firm1s opinion (or their designee) ,ill generally suffice as the accountant advising the registrant of a reportable event or as a statement of a disagreement at the decision(ma5ing level ,ithin the accounting firm and re.uires disclosure under this Item. ******************************************************************
PART IH (A)
:ANA<E:ENT AND 4ERTAIN SE4URITI >;=DERS
Directors& E.ecutive ;fficers& Promoters #n! 4ontrol Persons( T is section re3uires !isclosure of inform#tion concernin" t e b#c,"roun! of t e re"istr#nt5s officers& !irectors& #n! ot er ,e% personnel. A potenti#l investor ' o re#!s t is section s oul! be #ble to consi!er ' et er or not t ese persons #ve #!e3u#te b#c,"roun! #n! e.perience to !evelop #n! oper#te t e re"istr#nt5s business #n! m#,e it successful. (1) I!entif% Directors& Inclu!in" In!epen!ent Directors& #n! E.ecutive ;fficers (#) =ist t e n#mes& #"es $n, &i"i3en*#i% of #ll !irectors& inclu!in" in!epen!ent !irectors& e.ecutive officers #n! #ll persons nomin#te! or c osen to become suc ' ere re3uire! un!er Section $@ of t e 4o!e #n! SR4 Rule $@.1 #!opte! t ereun!er+ #lso provi!e t e n#mes of t e incorpor#tors in t e c#se of #n investment comp#n%. =ist t e positions #n! offices t #t e#c suc person el!& or 'ill ol!& if ,no'n& 'it t e re"istr#nt+ <ive t e person7s term of office #s # !irector #n! t e perio! !urin" ' ic t e person #s serve!+ Briefl% !escribe t e person7s business e.perience !urin" t e p#st five (8) %e#rs+ #n! If # !irector& i!entif% ot er !irectors ips el! in reportin" comp#nies& n#min" e#c comp#n%.
(b) (c) (!) (e) (-)
I!entif% Si"nific#nt Emplo%ees <ive t e inform#tion specifie! in p#r#"r#p (A)(1) for e#c person ' o is not #n e.ecutive officer but ' o is e.pecte! b% t e re"istr#nt to m#,e # si"nific#nt contribution to t e business. If t e business is i" l% !epen!ent on t e services of cert#in ,e% personnel& !escribe #n% #rr#n"ements to #ssure t #t t ese persons 'ill rem#in 'it t e re"istr#nt #n! not compete upon #n% termin#tion.
($)
)#mil% Rel#tions ips Describe #n% f#mil% rel#tions ips up to t e fourt civil !e"ree eit er b% cons#n"uinit% or #ffinit% #mon" !irectors& e.ecutive officers& or persons nomin#te! or c osen b% t e re"istr#nt to become !irectors or e.ecutive officers.
14
(9)
Involvement in 4ert#in =e"#l Procee!in"s Describe #n% of t e follo'in" events t #t occurre! !urin" t e p#st five (8) %e#rs u% " l$"e*" ,$"e t #t #re m#teri#l to #n ev#lu#tion of t e #bilit% or inte"rit% of #n% !irector& #n% nominee for election #s !irector& e.ecutive officer& un!er'riter or control person of t e re"istr#nt( (#) An% b#n,ruptc% petition file! b% or #"#inst #n% business of ' ic suc person '#s # "ener#l p#rtner or e.ecutive officer eit er #t t e time of t e b#n,ruptc% or 'it in t'o %e#rs prior to t #t time+ An% conviction b% fin#l 1u!"ment& inclu!in" t e n#ture of t e offense& in # crimin#l procee!in"& !omestic or forei"n& or bein" sub1ect to # pen!in" crimin#l procee!in"& !omestic or forei"n& e.clu!in" tr#ffic viol#tions #n! ot er minor offenses+ Bein" sub1ect to #n% or!er& 1u!"ment& or !ecree& not subse3uentl% reverse!& suspen!e! or v#c#te!& of #n% court of competent 1uris!iction& !omestic or forei"n& perm#nentl% or tempor#ril% en1oinin"& b#rrin"& suspen!in" or ot er'ise limitin" is involvement in #n% t%pe of business& securities& commo!ities or b#n,in" #ctivities+ #n! Bein" foun! b% # !omestic or forei"n court of competent 1uris!iction (in # civil #ction)& t e 4ommission or comp#r#ble forei"n bo!%& or # !omestic or forei"n E.c #n"e or ot er or"#ni*e! tr#!in" m#r,et or self re"ul#tor% or"#ni*#tion& to #ve viol#te! # securities or commo!ities l#' or re"ul#tion& #n! t e 1u!"ment #s not been reverse!& suspen!e!& or v#c#te!.
**************************************************************** Instructions to Part I6, Paragraph (A)(4)
(b)
(c)
(!)
$.
2or purposes of computing the five (') year period referred to in this paragraph, the disclosure period applicable to a final conviction, order, 3udgment, decree or sanction shall begin ,ith its date of entry. he disclosure period applicable to a final order shall commence ,hen the rights of appeal from such order have lapsed. Any conviction, order, 3udgment, decree or sanction that is appealed shall continue to be disclosed until ultimately reversed, suspended vacated, annulled or other,ise rendered of no effect, at ,hich time disclosure shall no longer be re.uired. 7ith respect to ban5ruptcy and insolvency proceedings, the computation date shall be the date of filing for uncontested petitions or the date upon ,hich approval of a contested petition became final. In the case of receiverships and conservatorships, the computation date shall be the date the receiver or conservator ,as appointed. he registrant is permitted to e)plain any mitigating circumstances associated ,ith actions reported pursuant to subparagraph (4). If the information called for by subparagraph (4) is being presented in a pro)y or information statement, no information need be given respecting any director ,hose term of office as a director ,ill not continue after the meeting to ,hich the statement relates. If the registrant is a partnership or a trust, the information re.uired by subparagraph (4) shall be provided ,ith respect to each general partner of the partnership, each trustee of the trust, and any other person providing services to such entities that are comparable to those provided by the persons
2.
&.
4.
15
identified in this subparagraph. 7here management services are provided to the registrant by outside parties pursuant to management or service contract or other,ise, the information called for by subparagraph (4) shall be disclosed ,ith respect to the persons identified, as ,ell as any other person providing comparable services on behalf of the registrant. ****************************************************************
(B)
E.ecutive 4ompens#tion. (1) <ener#l (#) All 4ompens#tion 4overe! T is p#r#"r#p (B) re3uires cle#r& concise #n! un!erst#n!#ble !isclosure of #ll pl#n #n! non2pl#n compens#tion #'#r!e! to& e#rne! b%& p#i! to& or estim#te! to be p#i! to& !irectl% or in!irectl%& t e n#me! e.ecutive officers !esi"n#te! un!er p#r#"r#p (B)(1)(b) ereof& !irectors covere! b% subp#r#"r#p ($) ereof& #n! in t e #""re"#te to #ll officers #n! !irectors #s # "roup !urin" t e l#st t'o complete! fisc#l %e#rs #n! t e ensuin" fisc#l %e#r& b% #n% person for #ll services ren!ere! in #ll c#p#cities to t e re"istr#nt #n! its subsi!i#ries& unless ot er'ise specifie!+ provi!e!& o'ever& e.cept #s to #ll officers #n! !irectors #s # "roup& t #t no !isclosure nee! be provi!e! for #n% e.ecutive officer& ot er t #n t e 4 ief E.ecutive ;fficer (4E;) #n! t e four (9) most i" l% compens#te!& ' ose tot#l #nnu#l s#l#r% #n! bonus& #s so !etermine!& !oes not e.cee! P8//&///.//. All suc compens#tion s #ll be reporte! even if #lso c#lle! for b% #not er re3uirement& inclu!in" tr#ns#ctions bet'een t e re"istr#nt #n! # t ir! p#rt% ' ere t e prim#r% purpose of t e tr#ns#ction is to furnis compens#tion to #n% suc n#me! e.ecutive officer or !irector unless inform#tion #s to suc tr#ns#ction #s been reporte! pursu#nt to p#r#"r#p (D) of t is P#rt IH. No item reporte! #s compens#tion for one fisc#l %e#r nee! be reporte! #s compens#tion for # subse3uent fisc#l %e#r. (b) Persons 4overe! Disclosure s #ll be provi!e! for e#c e.ecutive officersC)( (i) of t e follo'in" (t e Cn#me!
#ll in!ivi!u#ls servin" #s t e re"istr#nt7s 4E; or #ctin" in # simil#r c#p#cit% !urin" t e l#st complete! fisc#l %e#r& re"#r!less of compens#tion level+ t e re"istr#nt7s four most i" l% compens#te! e.ecutive officers ot er t #n t e 4E; ' o 'ere servin" #s e.ecutive officers #t t e en! of t e l#st complete! fisc#l %e#r+
(ii)
JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Instructions to P#rt IH& P#r#"r#p (B)(1)(b) Determin#tion of :ost >i" l% 4ompens#te! E.ecutive ;fficers. T e !etermin#tion #s to ' ic e.ecutive officers #re most i" l% compens#te! s #ll be m#!e b% reference to tot#l #nnu#l s#l#r% #n!
16
bonus for t e l#st complete! fisc#l %e#r (#s re3uire! to be !isclose! pursu#nt to p#r#"r#p (B)(-)(#) #n! (b)& but inclu!in" t e peso v#lue of s#l#r% or bonus #mounts for"one pursu#nt to Instruction $ to p#r#"r#p (B) (-) (b)(iii) #. #n! b. ereof. JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ
(c)
Definition )or purposes ereof& t e term %l$n inclu!es& but is not limite! to& t e follo'in"( #n% pl#n& contr#ct& #ut ori*#tion or #rr#n"ement& ' et er or not set fort in #n% form#l !ocuments& pursu#nt to ' ic t e follo'in" m#% be receive!( c#s & stoc,& stoc, options& '#rr#nts& convertible securities& #n! simil#r instruments. A pl#n m#% be #pplic#ble to one person. Re"istr#nts m#% omit inform#tion re"#r!in" "roup life& e#lt & ospit#li*#tion& me!ic#l reimbursement or reloc#tion pl#ns t #t !o not !iscrimin#te in scope& terms or oper#tion& in f#vor of e.ecutive officers or !irectors of t e re"istr#nt #n! t #t #re #v#il#ble "ener#ll% to #ll s#l#rie! emplo%ees.
(-)
Summ#r% 4ompens#tion T#ble (#) <ener#l. T e inform#tion specifie! in p#r#"r#p (B)(-)(b) ereof& concernin" t e compens#tion of t e n#me! e.ecutive officers& #n! in t e #""re"#te #s to #ll officers #n! !irectors #s # "roup& s #ll be supplie! for e#c of t e re"istr#nt7s l#st t'o complete! fisc#l %e#rs $n, en*uin4 +e$'& #n! s #ll be provi!e! in # Summ#r% 4ompens#tion T#ble& in t e t#bul#r form#t specifie! belo'. SUMMAR5 COM6ENSATION TA7LE
Annu#l 4ompens#tion KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK

(#) N#me #n! Princip#l position (b) Ie#r (c) S#l#r% (P) (!) Bonus (P) (e) ;t er Annu#l 4ompens#tion
KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK 4E; KKKKK KKKKK A KKKKKK KKKKKK B KKKKKK KKKKKK 4 KKKKKK KKKKKK D KKKKKK E All ot er officers #n! !irectors #s # "roup unn#me! KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK
17
(b)
T e T#ble s #ll inclu!e( (i) (ii) (iii) T e n#me #n! princip#l position of t e e.ecutive officer (column (#))+ )isc#l %e#r covere! (column (b))+ Annu#l compens#tion& !irectl% or in!irectl%& (columns (c)& (!) #n! (e)& inclu!in"( (A) T e peso v#lue of b#se s#l#r% (c#s #n! non2c#s ) e#rne! b% t e n#me! e.ecutive officer !urin" t e fisc#l %e#r covere! (column (c)). T e peso v#lue of bonus (c#s #n! non2c#s ) e#rne! b% t e n#me! e.ecutive officer !urin" t e fisc#l %e#r covere! (column (!))+ #n!
(B)
JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Instructions to P#rt IH& P#r#"r#p (B) (-)(b)(iii) A #n! B 1. Amounts !eferre! #t t e election of # n#me! e.ecutive officer s #ll be inclu!e! in t e column Lcolumn (c)M or bonus column Lcolumn (!)M& #s #ppropri#te& for t e fisc#l %e#r in e#rne!. If t e #mount of s#l#r% or bonus e#rne! in # "iven fisc#l %e#r is not c#lcul#ble t t e l#test pr#ctic#ble !#te& t #t f#ct must be !isclose! in # footnote #n! suc #mount s !isclose! in t e subse3uent fisc#l %e#r in t e #ppropri#te column for t e fisc#l %e#r in e#rne!. s#l#r% ' ic rou" #ll be ' ic
-.
)or stoc, or #n% ot er form of non2c#s compens#tion& !isclose t e f#ir m#r,et v#lue #t t e time t e compens#tion is #'#r!e!& e#rne! or p#i!. Re"istr#nts nee! not inclu!e in t e s#l#r% column Lcolumn (c)M or bonus column Lcolumn (!)M #n% #mount of s#l#r% or bonus for"one #t t e election of # n#me! e.ecutive officer pursu#nt to # re"istr#nt pro"r#m un!er ' ic stoc,& stoc,2b#se! or ot er forms of non2c#s compens#tion m#% be receive! b% # n#me! e.ecutive in lieu of # portion of #nnu#l compens#tion e#rne! in # covere! fisc#l %e#r. >o'ever& t e receipt of #n% suc form of non2c#s compens#tion in lieu of s#l#r% or bonus e#rne! for # covere! fisc#l %e#r s #ll be !isclose! in # footnote to t e s#l#r% or bonus column. JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ
$.
c.
T e peso v#lue of ot er #nnu#l compens#tion not properl% c#te"ori*e! #s s#l#r% or bonus& #s follo's Lcolumn (e)M( 1. Per3uisites #n! ot er person#l benefits& securities or propert%& if t e #""re"#te #mount of suc compens#tion is ten percent (1/0) or more of t e tot#l #nnu#l s#l#r% #n! bonus reporte! for t e n#me! e.ecutive officer in columns (c) #n! (!)+ Amounts reimburse! !urin" t e fisc#l %e#r for t e p#%ment of t#.es+ #n!
-.
18
$.
T e peso v#lue of t e !ifference bet'een t e price p#i! b% # n#me! e.ecutive officer for #n% securit% of t e re"istr#nt or its subsi!i#ries purc #se! from t e re"istr#nt or its subsi!i#ries (t rou" !eferr#l of s#l#r% or bonus& or ot er'ise)& #n! t e f#ir m#r,et v#lue of suc securit% #t t e !#te of purc #se& unless t #t !iscount is #v#il#ble "ener#ll%& eit er to #ll securit% ol!ers or to #ll s#l#rie! emplo%ees of t e re"istr#nt.
JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Instructions to P#rt IH& P#r#"r#p (B)(-)(b)(iii)(4) 1. E#c per3uisite or ot er person#l benefit e.cee!in" t'ent% five percent (-80) of t e tot#l per3uisites #n! ot er person#l benefits reporte! for # n#me! e.ecutive officer s #ll be i!entifie! b% t%pe #n! #mount in # footnote or #ccomp#n%in" n#rr#tive !iscussion to column (e). Per3uisites #n! ot er person#l benefits s #ll be v#lue! on t e b#sis of t e #""re"#te increment#l cost to t e re"istr#nt #n! its subsi!i#ries. JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ
-.
(iv)
;n line E& provi!e t e inform#tion re3uire! b% columns (#) t rou" (e) in t e #""re"#te for #ll officers #n! !irectors #s # "roup& inclu!in" t e n#me! e.ecutive officers& 'it out n#min" t e in!ivi!u#ls #n! irrespective of t e #mount of t eir in!ivi!u#l compens#tion. T e inform#tion re3uire! b% column (#) t rou" (e) m#% be provi!e! in t e #""re"#te for t e 4E; #n! t e four (9) most i" l% compens#te! officers ot er t #n t e 4E;& #ll of ' om s #ll be in!ivi!u#ll% n#me!.
(v)
($)
4ompens#tion of Directors (#) St#n!#r! Arr#n"ements. Describe #n% st#n!#r! #rr#n"ements& st#tin" #mounts& pursu#nt to ' ic !irectors of t e re"istr#nt #re compens#te!& or #re to be compens#te!& !irectl% or in!irectl%& for #n% services provi!e! #s # !irector& inclu!in" #n% #!!ition#l #mounts p#%#ble for committee p#rticip#tion or speci#l #ssi"nments& for t e l#st complete! fisc#l %e#r #n! t e ensuin" %e#r. ;t er Arr#n"ements. Describe t e m#teri#l terms of #n% ot er #rr#n"ements& inclu!in" consultin" contr#cts& pursu#nt to ' ic #n% !irector of t e re"istr#nt '#s compens#te!& or is to be compens#te!& !irectl% or in!irectl%& !urin" t e re"istr#nt7s l#st complete! fisc#l %e#r& #n! t e ensuin" %e#r& for #n% service provi!e! #s # !irector& st#tin" t e #mount p#i! #n! t e n#me of t e !irector.
(b)
(9)
Emplo%ment 4ontr#cts #n! Termin#tion of Emplo%ment #n! 4 #n"e2in24ontrol Arr#n"ements. Describe t e terms #n! con!itions of e#c of t e follo'in" contr#cts or #rr#n"ements(
19
(#) (b)
An% emplo%ment contr#ct bet'een t e re"istr#nt #n! # n#me! e.ecutive officer+ #n! An% compens#tor% pl#n or #rr#n"ement& inclu!in" p#%ments to be receive! from t e re"istr#nt& 'it respect to # n#me! e.ecutive officer& if suc pl#n or #rr#n"ement results or 'ill result from t e resi"n#tion& retirement or #n% ot er termin#tion of suc e.ecutive officer7s emplo%ment 'it t e re"istr#nt #n! its subsi!i#ries or from # c #n"e2in2control of t e re"istr#nt or # c #n"e in t e n#me! e.ecutive officer7s responsibilities follo'in" # c #n"e2in2control #n! t e #mount involve!& inclu!in" #ll perio!ic p#%ments or inst#llments& ' ic e.cee!s P-&8//&///.
(8)
D#rr#nts #n! ;ptions ;utst#n!in"( Repricin" (#) )urnis inform#tion on #ll outst#n!in" '#rr#nts or options el! b% t e re"istr#nt7s 4E;& t e n#me! e.ecutive officers& #n! #ll officers #n! !irectors #s # "roup. T is inform#tion s #ll be furnis e! in t#bul#r form s o'in" t e #mount of '#rr#nts or options el! b% t e 4E; #n! e#c of t e n#me! e.ecutive officers& #n! #ll officers #n! !irectors #s # "roup& tot#l '#rr#nts or options outst#n!in"& !#te of "r#nt& e.ercise price& m#r,et price on t e !#te of "r#nt& t e e.pir#tion !#te #n! # !et#ile! st#tement #s to t e pl#n or sc eme b% ' ic s#i! '#rr#nts or options s #ll be e.ercise!. If #t #n% time !urin" t e l#st complete! fisc#l %e#r& t e re"istr#nt& ' ile # reportin" comp#n%& #s #!1uste! or #men!e! t e e.ercise price of stoc, '#rr#nts or options previousl% #'#r!e! to #n% of t e officers #n! !irectors covere! b% subp#r#"r#p (#) ereof& ' et er t rou" #men!ment& c#ncell#tion or repl#cement "r#nts& or #n% ot er me#ns& t e re"istr#nt s #ll e.pl#in in re#son#ble !et#il #n% suc repricin" of '#rr#nts or options el! b% suc officers or !irectors in t e l#st complete! fisc#l %e#r& #s 'ell #s t e b#sis for e#c suc repricin".
(b)
(4)
Securit% ;'ners ip of 4ert#in Recor! #n! Benefici#l ;'ners #n! :#n#"ement. (1) Securit% ;'ners ip of 4ert#in Recor! #n! Benefici#l ;'ners 4omplete t e t#ble belo' for #n% person (inclu!in" #n% C"roupC) ' o is ,no'n to t e re"istr#nt to be !irectl% or in!irectl% t e recor! and/or benefici#l o'ner (see !efinition belo') of more t #n 80 of #n% cl#ss of re"istr#nt7s votin" securities.
KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK
(1) Title of cl#ss (-) N#me& #!!ress (8) N$!e ) 7ene)i&i$l of recor! o'ner $n, O/ne' $n, Rel$"i n*#i% 'el$"i n*#i% /i"# i**ue' /i"# Re& ', O/ne' (9) Ci"i3en*#i% (8) N 2 ) S#$'e* (?) Percent 9el,
20
(-)
Securit% ;'ners ip of :#n#"ement )urnis t e follo'in" inform#tion& #s of t e !#te t e re"istr#tion st#tement is file!& in subst#nti#ll% t e t#bul#r form in!ic#te!& #s to e#c cl#ss of e3uit% securities of t e re"istr#nt benefici#ll% o'ne! b% in,ivi,u$l ,i'e&" '*, e:e&u"ive ))i&e'* $n, n !inee* & n#min" t em& e#c of t e n#me! e.ecutive officers #s !efine! in p#r#"r#p (B)(1)(b)of t is P#rt IH&. S o' in column ($) t e tot#l number of s #res benefici#ll% o'ne! #n! in column (9) t e percent of cl#ss o'ne!. ;f t e number of s #res s o'n in column ($)& in!ic#te& b% footnote or ot er'ise& t e #mount of s #res 'it respect to ' ic suc persons #ve t e ri" t to #c3uire benefici#l o'ners ip.
(1) Title of cl#ss
(-) N#me of benefici#l ;'ner
($) Amount #n! n#ture of benefici#l o'ners ip
(9) 4iti*ens ip (8) Percent of 4l#ss
KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK
JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Instructions to Part I6, Paragraph (-)(2)(C)($) 8 (2)
he information shall in no event more than ninety (9*) days prior to filing of the registration statement or the information statement.
JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ
($)
Hotin" Trust >ol!ers of 80 ;r :ore D ere persons ol! more t #n 80 of # cl#ss un!er # votin" trust or simil#r #"reement& provi!e t e follo'in"( (#) (b) (c) (!) (e) t e title of suc securities+ t e #mount t #t t e% ol! un!er t e trust or #"reement (if not cle#r from t e t#ble)+ t e !ur#tion of t e #"reement+ t e n#mes #n! #!!resses of t e votin" trustees+ #n! # brief outline of t e votin" ri" ts #n! ot er po'ers of t e votin" trustees un!er t e trust or #"reement.
(9)
4 #n"es in 4ontrol Describe #n% #rr#n"ements ' ic re"istr#nt. m#% result in # c #n"e in control of t e
(8)
Definitions22)or purposes of t is p#r#"r#p (4)(
21
(#)
7ene)i&i$l O/ne' s #ll me#n (i) An% person ' o& !irectl% or in!irectl%& t rou" #n% contr#ct& #rr#n"ement& un!erst#n!in"& rel#tions ip or ot er'ise #s or s #res( A. B. votin" po'er& ' ic inclu!es t e po'er to vote& or to !irect t e votin" of& suc securit%+ or investment returns or po'er& ' ic inclu!es t e po'er to !ispose& or to !irect t e !isposition of& suc securit%.
(ii)
An% person ' o& !irectl% or in!irectl%& cre#tes or uses # trust& pro.%& po'er of #ttorne%& poolin" #rr#n"ement or #n% ot er contr#ct& #rr#n"ement or !evice 'it t e purpose or effect of !ivestin" suc person of benefici#l o'ners ip of # securit% or preventin" t e vestin" of suc benefici#l o'ners ip. In #re#s covere! b% n#tion#lit% re3uirements of t e 4onstitution& #n! # corpor#tion is n#me! or reporte! #s # benefici#l o'ner& t e benefici#l o'ners ip of t #t corpor#tion s #ll be tr#ce! #s f#r b#c, #s necess#r% to fin! t e #ctu#l n#tur#l person& or n#tur#l persons #ctin" to"et er& to !irect t e votin" or !isposition of t e s #res el! b% t e corpor#tion.
(b)
)or purposes of t is p#r#"r#p (4)& t e term C 4' u%C s #ll me#n t'o or more persons #ctin" #s # p#rtners ip& s%n!ic#te& or ot er "roup for t e purpose of #c3uirin"& ol!in" or !isposin" of securities of #n issuer.
******************************************************************** Instructions to Part I6, Paragraph (C) $. :f the number of shares sho,n in column (&) of paragraph (C)($) and (2), state in a footnote the amount of additional shares ,hich the listed beneficial or record o,ner has the right to ac.uire ,ithin thirty (&*) days, from options, ,arrants, rights, conversion privilege or similar obligations, or other,ise. Calculate the percentages in column (4) on the basis of the amount of outstanding securities plus, for each person or group, any securities that person or group has the right to ac.uire ,ithin thirty (&*) days pursuant to options, ,arrants, conversion privileges or other rights. All securities of the same class beneficially o,ned by a person, regardless of the form that such beneficial o,nership ta5es, shall be totaled in calculating the number of shares beneficially o,ned by such person. 7here the registrant lists more than one beneficial o,ner for the same securities, ade.uate disclosure should be included to avoid confusion. *******************************************************************
2.
&.
4.
22
(D)
4ert#in Rel#tions ips #n! Rel#te! Tr#ns#ctions. T is item re3uires e.tensive !isclosure of tr#ns#ctions (or series of simil#r tr#ns#ctions) 'it or involvin" t e comp#n% or #n% of its subsi!i#ries in ' ic # !irector& e.ecutive officer& or stoc, ol!er o'ns ten percent (1/0) or more of tot#l outst#n!in" s #res #n! members of t eir imme!i#te f#mil% #! or is to #ve # !irect or in!irect m#teri#l interest. 4ompl%in" 'it t is item re3uires # ver% c#reful revie' of #ll tr#ns#ctions t #t involve insi!ers or t eir imme!i#te f#milies !urin" t e l#st t'o %e#rs. (1) Describe #n% tr#ns#ction !urin" t e l#st t'o %e#rs& or propose! tr#ns#ctions& to ' ic t e re"istr#nt '#s or is to be # p#rt%& in ' ic #n% of t e follo'in" persons #! or is to #ve # !irect or in!irect m#teri#l interest. <ive t e n#me of t e person& t e rel#tions ip to t e issuer& n#ture of t e person7s interest in t e tr#ns#ction& #n! t e #mount of suc interest( (#) (b) (c) (!) An% !irector or e.ecutive officer of t e re"istr#nt+ An% nominee for election #s # !irector+ An% securit% ol!er n#me! in response to P#rt IH& p#r#"r#p (4) An% member of t e imme!i#te f#mil% (inclu!in" spouse& p#rents& c il!ren& siblin"s& #n! in2l#'s) of #n% of t e persons in subp#r#"r#p (1)(#)& (b) or (c) of t is p#r#"r#p (D).
(-)
No inform#tion nee! be inclu!e! for #n% tr#ns#ction ' ere( (#) T e tr#ns#ction involves services #t r#tes or c #r"es fi.e! b% l#' or "overnment#l #ut orit%+ T e tr#ns#ction involves services #s # b#n, !epositor% of fun!s& tr#nsfer #"ent& re"istr#r& trustee un!er # trust in!enture& or simil#r services+ T e #mount involve! in t e tr#ns#ction or # series of simil#r tr#ns#ctions is less t #n P8//&///.//+ or T e interest of t e person #rises solel% from t e o'ners ip of securities of t e re"istr#nt #n! t e person receives no e.tr# or speci#l benefit t #t '#s not s #re! e3u#ll% (pro r#t#) b% #ll ol!ers of securities of t e cl#ss.
(b)
(c) (!)
($)
=ist #ll p#rents of t e re"istr#nt s o'in" t e b#sis of control #n! #s to e#c p#rent& t e percent#"e of votin" securities o'ne! or ot er b#sis of control b% its imme!i#te p#rent if #n%. Tr#ns#ctions 'it Promoters. Issuers or"#ni*e! 'it in t e p#st five (8) %e#rs s #ll( (#) St#te t e n#mes of t e promoters& t e n#ture #n! #mount of #n%t in" of v#lue (inclu!in" mone%& propert%& contr#cts& options or ri" ts of #n% ,in!) receive! or to be receive! b% e#c promoter& !irectl% or
(9)
23
in!irectl%& from t e issuer #n! t e n#ture #n! #mount of #n% #ssets& services or ot er consi!er#tion receive! or to be receive! b% t e re"istr#nt+ #n! (b) As to #n% #ssets #c3uire! or to be #c3uire! from # promoter& st#te t e #mount #t ' ic t e #ssets 'ere #c3uire! or #re to be #c3uire! #n! t e principle follo'e! or to be follo'e! in !eterminin" suc #mount #n! i!entif% t e persons m#,in" t e !etermin#tion #n! t eir rel#tions ip& if #n%& 'it t e re"istr#nt or #n% promoter. If t e #ssets 'ere #c3uire! b% t e promoter 'it in t'o %e#rs prior to t eir tr#nsfer to t e issuer& #lso st#te t e cost t ereof to t e promoter.
(8)
)or purposes of t is P#rt IH& p#r#"r#p (D)& # person !oes not #ve #n in!irect m#teri#l interest in # tr#ns#ction ' ere( (#) T e interest #rises onl%( (i) from suc person7s position #s # !irector of #not er corpor#tion or or"#ni*#tion (ot er t #n # p#rtners ip) ' ic is # p#rt% to t e tr#ns#ction+ #n!6or from t e tot#l o'ners ip (!irect or in!irect) b% #ll specifie! persons of less t #n # five percent (80) e3uit% interest in #not er person (ot er t #n # p#rtners ip) ' ic is # p#rt% to t e tr#ns#ction+
(ii)
(b)
T e interest #rises onl% from suc person7s position #s # limite! p#rtner in # p#rtners ip in ' ic e #n! #ll ot er specifie! persons #! #n interest of less t #n five percent (80)+ or T e interest of suc person #rises solel% from ol!in" #n e3uit% interest (but not # "ener#l p#rtners ip interest) or # cre!itor interest in #not er person t #t is # p#rt% to t e tr#ns#ction #n! t e tr#ns#ction is not m#teri#l to suc ot er person.
************************************************************ Instructions to Part I6, Paragraph (%)
(c)
$.
Include information for any material under,riting discounts and commissions upon the sale of securities by the registrant ,here any of the specified persons ,as or is to be an under,riter or is a controlling person or member of a firm that ,as or is to be an under,riter. As to any transaction involving the purchase or sale of assets by or to the registrant other than in the ordinary course of business, state the cost of the assets to the purchaser and if ac.uired by the seller ,ithin t,o years before the transaction, the cost thereof to the seller. *********************************************************
2.
6ART ; COR6ORATE <O;ERNANCE %he follo ing information, as declared and approved by the 5oard of Directors of the company, shall be discussed,
24
(a) %he evaluation system established by the company to measure or determine the level of compliance of the 5oard of Directors and top'level management ith its 6anual of $orporate 7overnance) (b) 6easures being undertaken by the company to fully comply leading practices on good corporate governance) ith the adopted
(c) 0ny deviation from the company&s 6anual of $orporate 7overnance. It shall include a disclosure of the name and position of the person/s involved, and the sanction/s imposed on said individual) (d) 0ny plan to improve corporate governance of the company. PART ;I RE<ISTRATI;N STATE:ENT AND PR;SPE4TUS PR;HISI;NS (A) )ront of Re"istr#tion St#tement #n! ;utsi!e )ront 4over P#"e of Prospectus. ;n t e outsi!e front cover p#"e of t e prospectus& t e inform#tion provi!e! s #ll be in #n e#sil% re#!#ble st%le #n! form#t #n! inclu!e& #t # minimum& t e follo'in" inform#tion( (1) (-) N#me of t e issuer T e terms of t e offer inclu!in"( (#) (b) (c) ($) (9) (8) Description #n! #mount of securities offere!+ Public offerin" price& or t e offerin" price r#n"e in t e c#se of # prelimin#r% prospectus+ D ere t e securities 'ill be tr#!e! (e.c #n"e or over2t e2counter)+
N#me(s) of t e un!er'riter(s) T e !#te of t e prospectus T e follo'in" st#tement in bol! f#ce 1- point t%pe& prominentl% !ispl#%e!( T9E SECURITIES AND EXC9AN<E COMMISSION 9AS NOT A66RO;ED T9ESE SECURITIES OR DETERMINED IF T9IS 6ROS6ECTUS IS ACCURATE OR COM6LETE2 AN5 RE6RESENTATION TO T9E CONTRAR5 IS A CRIMINAL OFFENSE AND S9OULD 7E RE6ORTED IMMEDIATEL5 TO T9E SECURITIES AND EXC9AN<E COMMISSION2
(B)
Insi!e )ront 4over #n! )irst T'o or :ore P#"es of Prospectus. (1) If not inclu!e! on t e cover of t e prospectus& provi!e t e follo'in" inform#tion on t e insi!e front cover( (#) (b) (c) Number of s #res offere! b% current stoc, ol!ers+ Tot#l number of s #res outst#n!in" #fter t e offerin"+ Tot#l procee!s r#ise! b% t e offerin"+
25
(!) (e) (f) (") (-) ($) (9)
Brief !escription of use of procee!s from t e offerin"+ Un!er'riters7 fees+ Divi!en! polic%+ A!!ress #n! telep one number of t e comp#n%7s princip#l office.
T#ble of 4ontents. Brief !escription of t e comp#n%7s business. :ore !et#ile! inform#tion s #ll be provi!e! in t e bo!% of t e prospectus un!er Item 11 of SE4 )orm 1-21. Summ#r% p#r#"r#p or ,e% points c #r#cteri*in" t e ris,s of t e offerin" un!er t e c#ption FRis,s of Investin"G. :ore !et#ile! inform#tion s #ll be provi!e! un!er Item $ of SE4 )orm 1-21. Summ#r% fin#nci#l inform#tion in t#bul#r or "r#p ic form ' ic is useful to potenti#l investors. Suc inform#tion s #ll be summ#ri*e! from t e more !et#ile! fin#nci#l st#tement inform#tion re3uire! un!er Item 1- of SE4 )orm 1-2 1. D#t# s #ll inclu!e& but nee! not be limite! to& t e follo'in"( (#) (b) Abbrevi#te! income st#tement !#t# for prior t'o %e#rs+ Abbrevi#te! b#l#nce s eet !#t# for t e prior t'o %e#rs.
(8)
(?) (A)
A <loss#r% ' ic !efines #ll tec nic#l terms use! in t e prospectus. T e follo'in" st#tement in bol! f#ce 1-2point t%pe& prominentl% !ispl#%e!& in t e c#se of # prelimin#r% prospectus( A RE<ISTRATION STATEMENT RELATIN< TO T9ESE SECURITIES 9AS 7EEN FILED =IT9 T9E SECURITIES AND EXC9AN<E COMMISSION 7UT 9AS NOT 5ET 7EEN DECLARED EFFECTI;E2 NO OFFER TO 7U5 T9E SECURITIES CAN 7E ACCE6TED AND NO 6ART OF T9E 6URC9ASE 6RICE CAN 7E ACCE6TED OR RECEI;ED UNTIL T9E RE<ISTRATION STATEMENT 9AS 7ECOME EFFECTI;E, AND AN5 SUC9 OFFER MA5 7E =IT9DRA=N OR RE;O>ED, =IT9OUT O7LI<ATION OF COMMITMENT OF AN5 >IND, AT AN5 TIME 6RIOR TO NOTICE OF ITS ACCE6TANCE <I;EN AFTER T9E EFFECTI;E DATE2 AN INDICATION OF INTEREST IN RES6ONSE 9ERETO IN;OL;ES NO O7LI<ATION OR COMMITMENT OF AN5 >IND2 T9IS 6ROS6ECTUS S9ALL NOT CONSTITUTE AN OFFER TO SELL OR T9E SOLICATION OF AN OFFER TO 7U52
(@)
In t e c#se of # prospectus t #t #s become effective& t e follo'in" st#tement in bol! f#ce 1-2point t%pe& prominentl% !ispl#%e!& #n! si"ne! b% t e presi!ent un!er o#t ( ALL RE<ISTRATION REQUIREMENTS 9A;E 7EEN MET AND ALL INFORMATION CONTAINED 9EREIN IS TRUE AND CURRENT2
(4)
Ris, )#ctors. Un!er t e c#ption CRis, )#ctorsC& re"istr#nt s #ll list in t e or!er of import#nce #n! !iscuss full% t e f#ctors t #t m#,e t e offerin" specul#tive or ris,% (i.e. t ose f#ctors ' ic constitute t e "re#test t re#t t #t t e investment in t e securities 'ill be lost in
26
' ole or in p#rt& or not provi!e #n #!e3u#te return). T ese f#ctors m#% inclu!e& #mon" ot er t in"s& #n #bsence of oper#tin" istor% of t e re"istr#nt& no recent profit from oper#tions& poor fin#nci#l position& t e ,in! of business in ' ic t e re"istr#nt is en"#"e! or proposes to en"#"e& or no m#r,et for t e re"istr#nt7s securities. Discuss ho (D) the company shall manage the risks mentioned above.
Speci#li*e! Re"istr#nts. (1) Investment 4omp#nies In #!!ition to t e ot er re3uirements cont#ine! erein #s #ppropri#te& t e prospectus of #n investment comp#n% s #ll cont#in( (#) # !escription of t e investment fun!& its cl#ssific#tion in #ccor!#nce 'it c#te"ories st#te! in rules #!opte! un!er t e Investment 4omp#n% Act& its investment ob1ectives #n! initi#l investment pl#ns. # st#tement of investment restrictions& inclu!in" ceilin"s per comp#n% or in!ustr%& li3ui!it% st#n!#r!s #n! portfolio mi.+ terms of t e issue #n! pricin" of securities issue! or to be issue! b% t e investment comp#n%& s#les lo#!& minimum si*e re3uirements& income !istribution polic% #n! proce!ures in t e purc #se #n! s#le of suc securities+ in t e c#se of re!eem#ble securities& t e met o! #n! b#sis of comput#tion of net #sset v#lue+ m#nner #n! met o! of re!emption+ #ut ori*e! re!emption centers+ minimum ol!in" perio!s+ #n! re!emption c #r"es& if #n%+ t e e.tent of p#rticip#tion or o'ners ip b% members of t e Bo#r! of Directors #n! m#n#"ement in t e e3uit% #n!6or !ebt securities issue! b% t e investment comp#n%+ princip#l responsibilities of t e un!er'riters& sellin" #"ents& investment #!visors6m#n#"ers& custo!i#n #n! in!epen!ent #u!itor+ #u!ite! fin#nci#l st#tements #s of # !#te not e#rlier t #n ninet% (B/) !#%s from t e !#te of t e filin" of t e re"istr#tion st#tement+ #n! sc e!ule of investments (portfolio) in!ic#tin" issuer& cost #n! m#r,et v#lue.
(b) (c)
(!)
(e)
(f) (") ( ) (E) Use of Procee!s (1)
St#te t e princip#l purposes for ' ic t e net procee!s of t e offerin" 'ill be use!& in!ic#tin" t e #ppro.im#te #mount inten!e! to be use! for e#c suc purpose. D ere t e re"istr#nt #s no current specific pl#n for t e procee!s& or # si"nific#nt portion t ereof& t e re"istr#nt s #ll so st#te #n! !iscuss t e princip#l re#sons for t e offerin". D ere less t #n #ll of t e securities to be offere! m#% be sol! #n! more t #n one use is liste! for t e procee!s& t e re"istr#nt s #ll in!ic#te t e or!er of
27
priorit% of suc purposes #n! !iscuss its pl#ns if subst#nti#ll% less t #n t e m#.imum procee!s #re obt#ine!. If #n% m#teri#l #mounts of ot er fun!s #re necess#r% to #ccomplis t e specifie! purpose(s) for ' ic t e offerin" is m#!e& t e re"istr#nt s #ll st#te t e #mounts #n! sources of suc ot er fun!s nee!e!. If # m#teri#l #mount of procee!s 'ill !isc #r"e !ebt& st#te t e interest r#te #n! m#turit%. If t #t !ebt '#s incurre! 'it in one %e#r& !escribe t e use of t e procee!s of t #t !ebt. If #n% m#teri#l #mount of t e procee!s is to be use! to #c3uire #ssets or fin#nce t e #c3uisitions of ot er businesses& !escribe t e #ssets or businesses #n! i!entif% t e persons from ' om t e% 'ill be bou" t. St#te t e cost of t e #ssets #n!& ' ere suc #ssets #re to be #c3uire! from #ffili#tes of t e re"istr#nt or t eir #ssoci#tes& "ive t e n#mes of t e persons from ' om t e% #re to be #c3uire! #n! set fort t e principle follo'e! in !eterminin" t e cost to t e re"istr#nt. E.pl#in if #n% of t e procee!s #re to be use! to reimburse #n% officer& !irector& emplo%ee or s #re ol!er for services ren!ere!& #ssets previousl% tr#nsferre!& mone% lo#ne! or #!v#nce!& or ot er'ise. (2) ($) Di*&l *e "#e e:%en*e* /#i&# *#$ll (e ,e,u&"e, %' &ee,*2 Investment 4omp#nies St#te t #t t e procee!s from t e s#le of securities& inclu!in" t e ori"in#l subscription p#%ments #t t e time of incorpor#tion constitutin" t e ori"in#l p#i!2in c#pit#l of t e investment comp#n%& s #ll be el! b% # custo!i#n b#n, referre! to in rules #!opte! un!er t e Investment 4omp#n% Act. ()) Determin#tion of ;fferin" Price. Discuss the various factors considered in determining the offering price of the securities for registration. T e follo'in" f#ctors m#% be relev#nt to t e price #t ' ic t e securities #re bein" offere!( #fter2t#. e#rnin"s& price6e#rnin"s multiple& net t#n"ible boo, v#lue per s #re. (<) Dilution. D ere common e3uit% securities #re bein" re"istere! #n! t ere is # subst#nti#l !isp#rit% bet'een t e public offerin" price #n! t e effective c#s cost to officers& !irectors& promoters #n! #ffili#te! persons of common e3uit% #c3uire! b% t em in tr#ns#ctions !urin" t e p#st five (8) %e#rs& or ' ic t e% #ve t e ri" t to #c3uire& #n! t e re"istr#nt is not sub1ect to t e reportin" re3uirements of Section 1A of t e 4o!e imme!i#tel% prior to filin" of t e re"istr#tion st#tement& t ere s #ll be inclu!e! # comp#rison of t e public contribution un!er t e propose! public offerin" #n! t e effective c#s contribution of suc persons. In suc c#ses& #n! ' ere common e3uit%
' %$i,
u"
) "#e 4' **
28
securities #re bein" re"istere! b% # re"istr#nt t #t #s #! losses in e#c of its l#st t ree fisc#l %e#rs& or from inception if s orter& #n! t ere is # m#teri#l !ilution of t e purc #sers7 e3uit% interest& t e follo'in" s #ll be !isclose!( (1) T e net t#n"ible boo, v#lue per s #re before #n! #fter t e !istribution. )or t is purpose& net t#n"ible boo, v#lue me#ns tot#l #ssets (e.clusive of cop%ri" ts& p#tents& "oo!'ill& rese#rc #n! !evelopment costs& pre2oper#tin" costs& #n! simil#r int#n"ible #ssets) minus tot#l li#bilities. T e #mount of t e incre#se in suc net t#n"ible boo, v#lue per s #re #ttribut#ble to t e c#s p#%ments m#!e b% purc #sers of t e s #res bein" offere!+ #n! T e #mount of t e imme!i#te !ilution from t e public offerin" price ' ic 'ill be #bsorbe! b% suc purc #sers.
(-)
($)
>.
Sellin" Securit% >ol!ers. If #n% of t e securities to be re"istere! #re to be offere! for t e #ccount of securit% ol!ers& n#me e#c suc securit% ol!er& in!ic#te t e n#ture of #n% position& office& or ot er m#teri#l rel#tions ip ' ic t e sellin" securit% ol!er #s #! 'it in t e p#st t ree %e#rs 'it t e re"istr#nt or #n% of its pre!ecessors or #ffili#tes& #n! st#te t e #mount of securities of t e cl#ss o'ne! b% suc securit% ol!er prior to t e offerin"& t e #mount to be offere! for t e securit% ol!er7s #ccount& t e #mount #n! (if one percent or more) t e percent#"e of t e cl#ss to be o'ne! b% suc securit% ol!er #fter completion of t e offerin".
******************************************************************* Instruction to Part 6I, Paragraph (;) #esponses to Part 6, paragraph (;) may be combined ,ith disclosure in response to Part I6, Paragraph (C), "ecurity :,nership of Certain #ecord and -eneficial :,ners and <anagement. *********************************************************************
(I)
Pl#n of Distribution. T is section re3uires t e !isclosure of t e #mount of compens#tion to t e sellin" #"ents #n! un!er'riters& #n! t e n#ture of #n% rel#tions ips bet'een t em #n! t e re"istr#nt. After revie'in" t e inform#tion cont#ine! erein& # potenti#l investor s oul! be in # better position to #ssess t e e.tent to ' ic e m#% rel% upon #n% recommen!#tion b% t e un!er'riter or sellin" #"ent to bu% t e securities. (1) Un!er'riters6:#r,eters #n! un!er'ritin"6m#r,etin" obli"#tion (#) St#te t e n#me of t e le#! un!er'riter(s)& #n! t e respective #mounts un!er'ritten. I!entif% e#c un!er'riter #vin" # m#teri#l rel#tions ip 'it t e re"istr#nt #n! !escribe t e n#ture of t e rel#tions ip. St#te briefl% t e n#ture of t e obli"#tion of t e un!er'riter(s) to t#,e t e securities. If #n% of t e un!er'riters #s # contr#ct or ot er #rr#n"ement 'it t e issuer b% ' ic t e un!er'riter m#% put b#c, to t e issuer #n% unsol!
(b)
29
securities of t e offerin"& so st#te& #n! submit # cop% of t e #"reement or& if or#l& st#te t e subst#nce t ereof. (c) Disclose hether or not the under riter or marketer is licensed by the $ommission to engage in under riting or distribution of securities to the public, or the status of its application, if not yet licensed.
(-)
Ne' un!er'riters Describe t e business e.perience of t e le#! un!er'riter. If suc un!er'riter #s been in business less t #n t ree %e#rs& st#te t eir princip#l business function #n! i!entif% #n% m#teri#l rel#tions ips bet'een t e promoters of t e issuer #n! t e un!er'riter(s). T is inform#tion nee! not be "iven if t e issuer is # reportin" comp#n% #n! #n offerin" #s no m#teri#l ris,s.
($)
;t er Distributions ;utline briefl% t e pl#n of !istribution of #n% securities to be re"istere! t #t #re to be offere! ot er t #n t rou" un!er'riters. (#) If #n% securities #re to be offere! pursu#nt to # !ivi!en! or interest reinvestment pl#n t e terms of ' ic provi!e for t e purc #se of some securities on t e m#r,et& st#te ' et er t e re"istr#nt or t e p#rticip#nt p#%s fees& commissions& #n! e.penses incurre! in connection 'it t e pl#n. If t e p#rticip#nt 'ill p#% suc fees& commissions #n! e.penses& st#te t e #nticip#te! cost to p#rticip#nts b% tr#ns#ction or ot er convenient reference. If t e securities #re to be offere! t rou" t e sellin" efforts of Bro,er De#lers& !escribe t e pl#n of !istribution #n! t e terms of #n% #"reement& #rr#n"ement& or un!erst#n!in" entere! into 'it Bro,er De#lers prior to t e effective !#te of t e re"istr#tion st#tement& inclu!in" volume limit#tions on s#les& p#rties to t e #"reement #n! t e con!itions un!er ' ic t e #"reement m#% be termin#te!. If ,no'n& i!entif% t e Bro,er De#ler ' ic 'ill p#rticip#te in t e offerin" #n! st#te t e #mount to be offere! t rou" e#c . If #n% of t e securities bein" re"istere! #re to be offere! ot er t #n for c#s & st#te briefl% t e "ener#l purposes of t e !istribution& t e b#sis upon ' ic t e securities #re to be offere!& t e #mount of compens#tion #n! ot er e.penses of !istribution& #n! b% ' om t e% #re to be borne. If t e !istribution is to be m#!e pursu#nt to # pl#n of #c3uisition& reor"#ni*#tion& re#!1ustment or succession& !escribe briefl% t e "ener#l effect of t e pl#n #n! st#te ' en it bec#me or is to become oper#tive. As to #n% m#teri#l #mount of #ssets to be #c3uire! un!er t e pl#n& ot er t #n in t e or!in#r% course of business& !escribe briefl% #n! st#te t e cost of t e #ssets #n!& ' ere t e #ssets #re to be #c3uire! from #ffili#tes of t e re"istr#nt or t eir #ssoci#tes& "ive t e n#mes of t e persons from ' om t e% #re to be #c3uire! #n! set fort t e principle follo'e! in !eterminin" t e cost to t e re"istr#nt.
(b)
(c)
(!)
30
(9)
Un!er'riters7 4ompens#tion (#) To t e e.tent not set fort on t e cover p#"e of t e prospectus& !escribe t e !iscounts #n! commissions p#i! or to be p#i!& !irectl% or in!irectl%& to t e un!er'riters. )or purposes of t is p#r#"r#p (I)(9)& CcommissionsC s #ll inclu!e #ll c#s & securities& contr#cts& or #n%t in" of v#lue& p#i!& to be set #si!e& or !ispose! of& or un!erst#n!in"s 'it or for t e benefit of #n% ot er person in ' ic #n% un!er'riter is intereste!& m#!e in connection 'it t e s#le of t e securit% to be issue!. A commission p#i! or to be p#i! in connection 'it t e s#le of suc securit% b% # person in ' ic t e issuer #s #n interest or ' ic is controlle! b%& or un!er common control 'it & t e issuer s #ll be !eeme! to #ve been p#i! b% t e issuer. D ere #n% suc commission is p#i!& t e #mount of suc commission p#i! to e#c un!er'riter s #ll be st#te!.
(b)
(8)
Un!er'riter7s Represent#tive in t e Bo#r! of Directors Describe #n% #rr#n"ement ' ereb% t e un!er'riter #s t e ri" t to !esi"n#te or nomin#te # member or members of t e bo#r! of !irectors of t e re"istr#nt. I!entif% #n% !irector so !esi"n#te! or nomin#te! #n! in!ic#te #n% rel#tions ip 'it t e re"istr#nt.
(?)
Desi"n#te! S #res #n! Alloc#tions St#te ' et er #n% s #res #re !esi"n#te! to be sol! to specifie! persons #n!& if so& n#me t em #n! t e #mount of t e s #res to be so !esi"n#te!. St#te t e m#nner in ' ic s #res #re to be #lloc#te! to #n E.c #n"e #n!6or to its members& or b% #n E.c #n"e to its members.
(N)
Bro,ers6De#lers7 4ompens#tion St#te briefl% t e !iscounts #n! commissions to be #llo'e! or p#i! to Bro,er De#lers& inclu!in" #ll c#s & securities& contr#cts or ot er consi!er#tions to be receive! b% #n% Bro,er De#ler in connection 'it t e s#le of t e securities.
(O)
)in!ers I!entif% #n% fin!er #n!& if #pplic#ble& !escribe t e n#ture of #n% m#teri#l rel#tions ip bet'een suc fin!er #n! t e re"istr#nt& its officers& !irectors& princip#l stoc, ol!ers& fin!ers or promoters or t e un!er'riter(s)& or if t ere is # le#! un!er'riter(s)& t e le#! un!er'riter(s)& (inclu!in"& in e#c c#se& #ffili#tes or #ssoci#tes t ereof).
(=)
Interests of N#me! E.perts #n! In!epen!ent 4ounsel (1) Direct or In!irect Interest in Re"istr#nt If #n Ce.pertC or Cin!epen!ent counselC ire! on # contin"ent b#sis 'ill receive # !irect or in!irect interest in t e re"istr#nt or '#s # promoter& un!er'riter&
31
votin" trustee& !irector& officer& or emplo%ee& of t e re"istr#nt& !escribe t e contin"ent b#sis& interest& or connection = provided, ho,ever& t e re"istr#nt !oes not nee! to !isclose t e interest of #n e.pert (ot er t #n #n #ccount#nt) or in!epen!ent counsel if t eir interest (inclu!in" t e f#ir m#r,et v#lue of #ll securities of t e re"istr#nt receive! #n! to be receive!& or sub1ect to options& '#rr#nts or ri" ts receive! or to be receive!) !oes not e.cee! P 8//&///.//. (-) Definitions (#) (b) E.pert is # person ' o is n#me! #s prep#rin" or certif%in" #ll or p#rt of t e re"istr#nt7s re"istr#tion st#tement or # report or v#lu#tion for use in connection 'it t e re"istr#tion st#tement. In!epen!ent 4ounsel is in!epen!ent counsel n#me! in t e prospectus #s #vin" "iven #n opinion on t e v#li!it% of t e securities bein" re"istere! or upon ot er le"#l m#tters concernin" t e re"istr#tion or offerin" of t e securities.
(:)
;t er E.penses of Issu#nce #n! Distribution. <ive #n itemi*e! st#tement of #ll e.penses of t e offerin"& ot er t #n un!er'ritin" !iscounts #n! commissions. If #n% of t e securities #re re"istere! for s#le b% securit% ol!ers& st#te o' muc of t e e.penses t e securit% ol!ers 'ill p#%. (1) T e itemi*e! list s oul! "ener#ll% inclu!e re"istr#tion fees& t#.es& trustees7 #n! tr#nsfer #"ents7 fees& costs of printin" #n! en"r#vin"& le"#l& #ccountin"& #n! en"ineerin" fees #n! #n% listin" fees. Inclu!e #s # sep#r#te item #n% premium p#i! b% t e re"istr#nt or #n% sellin" securit% ol!er on #n% polic% to insure or in!emnif% !irectors or officers #"#inst #n% li#bilities t e% m#% incur in t e re"istr#tion& offerin"& or s#le of t ese securities. If t e #mounts of #n% items #re not ,no'n& "ive estim#tes but i!entif% t em #s suc .
(-)
($)
(N)
Aut ori*#tion Re( Issuer5s B#n, Accounts. As p#rt of t e re"istr#tion st#tement for t e offerin" of #n% cl#ss of securities& #ll re"istr#nts s #ll submit # continuin" #ut ori*#tion to t e 4ommission en#blin" its !ul% #ut ori*e! represent#tives to #ccess& inspect #n! cop% #ll of t e re"istr#nt5s b#n, #ccounts& inclu!in" #ll suc #ccounts el! b% t e issuer& its subsi!i#ries #n! its #ffili#tes #n! persons un!er common control 'it or b% t e issuer. T is #ut ori*#tion s #ll be for #ll b#n,s& !omestic or forei"n& ' erein #ccounts #re m#int#ine! #n! s #ll be continuous ) ' $* l n4 $* "#e 'e4i*"'$"i n ) *e&u'i"ie* ) "#e i**ue' i* e))e&"ive .
32
P#rt ;II EP>IBITS (A) E. ibits #n! In!e. of E. ibits Re3uire!. (1) )ive (8) copies e#c of t e e. ibits re3uire! in t e e. ibit t#ble s #ll be file! or incorpor#te! b% reference #s p#rt of t e re"istr#tion st#tement or specifie! report. E#c filin" s #ll #ve #n in!e. of e. ibits. T e e. ibit in!e. s #ll list e. ibits in t e s#me or!er #s t e e. ibit t#ble. If t e e. ibits #re incorpor#te! b% reference& t is f#ct s oul! be note! in t e e. ibit in!e.. In t e m#nu#ll% si"ne! re"istr#tion st#tement or report& t e e. ibit in!e. s oul! "ive t e p#"e number of e#c e. ibit. If # m#teri#l contr#ct or pl#n of #c3uisition& reor"#ni*#tion& #rr#n"ement& li3ui!#tion or succession is e.ecute! or becomes effective !urin" t e reportin" perio! covere! b% SE4 )orm 1A2Q or SE4 )orm 1A2A& it s #ll be file! #s #n e. ibit to );R: 1A2Q or );R: 1A2A file! for t e correspon!in" perio!. An% #men!ment or mo!ific#tion to # previousl% file! e. ibit to );R: 1A2Q or 1A2A s #ll be file! #s #n e. ibit to );R: 1A2Q or );R: 1A2A. Suc #men!ment or mo!ific#tion nee! not be file! ' ere t e previousl% file! e. ibit 'oul! not be currentl% re3uire!.
************************************************************** Instructions to Part 6II, Paragraph (A) $. If an e)hibit (other than an opinion or consent) is filed in preliminary form and is later changed to include only interest, dividend or conversion rates, redemption or conversion prices, purchase or offering prices, under,riters1 or dealers1 commissions, names, addresses or participation of under,riters or similar matters and the information appears else,here in the registration statement or a prospectus, no amendment need be filed. #egistrants may file copies of each e)hibit, rather than originals, e)cept as other,ise specifically noted. **********************************************************************
(-)
($)
2.
EX9I7IT TA7LE SECURITIES RE<ULATION CODE FORMS

Description Public#tion of Notice re( )ilin" Un!er'ritin" A"reement Pl#n of Ac3uisition& Reor"#ni*#tion& Arr#n"ement& =i3ui!#tion& or Succession (A) Articles of Incorpor#tion (B) B%2l#'s Instruments Definin" t e Ri" ts of Securit% >ol!ers& Inclu!in" In!entures ;pinion re( =e"#lit% ;pinion re( T#. :#tters 12-1 . . . . . . . 1?-C . . . . . . 1?-Q 1?-A
1 $ 9 8 ? A
33
@ B 1/
11 11$ 19 18 1? 1A 1@ 1B -/ -1 --$ -9 -8 -?
Hotin" Trust A"reement :#teri#l 4ontr#cts Annu#l Report to Securit% >ol!ers& );R: 1A2Q or Qu#rterl% Report to Securit% >ol!ersRn1 :#teri#l )orei"n P#tents =etter re( Un#u!ite! Interim )in#nci#l Inform#tion =etter re( 4 #n"e in 4ertif%in" Account#nt22n=etter re( Director Resi"n#tion =etter re( 4 #n"e in Accountin" Principles Report )urnis e! to Securit% >ol!ers ;t er Documents or St#tements to Securit% >ol!ers Subsi!i#ries of t e Re"istr#nt Publis e! Report Re"#r!in" :#tters Submitte! to Hote of Securit% >ol!ers 4onsents of E.perts #n! In!epen!ent 4ounsel (#) Po'er of Attorne% (b) Po'er of Attorne%R)orei"n Re"istr#nt St#tement of Eli"ibilit% of Trustee E. ibits To Be )ile! Dit C !!e'&i$l 6$%e'*@Bon! Issues E. ibits To Be )ile! Dit Stoc, ;ptions Issues E. ibits To Be )ile! B% Investment 4omp#nies N "$'i3e, 4urriculum Hit#e #n! P oto"r#p s of ;fficers #n! :embers of t e Bo#r! of Directors 4op% of t e B;I 4ertific#te for B;I Re"istere! 4omp#nies Aut ori*#tion re( Re"istr#nt5s B#n, Accounts. A!!ition#l E. ibits 4op% of Bo#r! Resolution #pprovin" t e securities offerin" #n! #ut ori*in" t e filin" of t e Re"istr#tion St#tement Dul% verifie! resolution of t e issuer5s Bo#r! of Directors #pprovin" t e !isclosures cont#ine! in t e re"istr#tion st#tement #n! #ssumin" li#bilit% for t e inform#tion cont#ine! t erein Se&'e"$'+-* Ce'"i)i&$"e $* " $, %"i n (+ "#e 7 $', ) &e'"$in & '% '$"e 4 ve'n$n&e %'in&i%le* E:#i(i"* " (e )ile, ) ' %' %'ie"$'+ ' n n-%' %'ie"$'+ *#$'e* i**ue* E:#i(i"* " (e )ile, ) ' =$''$n"* I**ue*
. . .
. x
. .
. . . . .
. .
. . . . . . . . . . . .2n$ . .2n$ .
. .
. . .2n$ .
-A -@ -B $/
. . . . . . .
$1
$-
$$ $9
. .
34
n1 In t e c#se of SE4 )orm 1A2A& ' ere t e #nnu#l report to securit% ol!ers is incorpor#te! b% reference into t e te.t of );R: 1A2A. Note( SR4 Rule 1-.- pro ibits inform#tion from bein" incorpor#te! b% reference to t e prospectus. n- If re3uire! pursu#nt to P#rt III& p#r#"r#p B($) of t is Anne. 4. n$ D ere t e opinion of t e e.pert or in!epen!ent counsel #s been incorpor#te! b% reference to # previousl% file! SE4 )orm 1-21 re"istr#tion st#tement. (B) Description of E. ibits. Set fort belo' is # !escription of e#c !ocument liste! in t e e. ibit t#ble. (1) Public#tion of Notice re( )ilin" An un!ert#,in" t #t re"istr#nt 'ill publis notice of t e filin" of t e re"istr#tion st#tement once per 'ee, for t'o consecutive 'ee,s in t'o ne'sp#pers of "ener#l circul#tion in t e P ilippines st#tin" t #t # re"istr#tion st#tement for t e s#le of t e sub1ect securities #s been file! 'it t e 4ommission& t #t it #n! t e p#pers #tt#c e! t ereto #re open for inspection #t t e 4ommission !urin" business ours b% intereste! p#rties& t #t copies t ereof c#n be obt#ine! #t t e 4ommission #t # re#son#ble c #r"e. T e re3uire! form#t for t e public#tion is cont#ine! in Anne. A ereto. T is notice s #ll be file! 'it t is e. ibit. (-) Un!er'ritin" A"reement E#c un!er'ritin" contr#ct or #"reement 'it !istribution of securities. ($) #n un!er'riter for t e
Pl#n of Ac3uisition& Reor"#ni*#tion& Arr#n"ement& =i3ui!#tion or Succession An% suc pl#n !escribe! in t e filin". Sc e!ules or #tt#c ments m#% be omitte! if t e% #re liste! in t e in!e. #n! provi!e! to t e 4ommission upon re3uest.
(9)
Articles of Incorpor#tion #n! B%l#'s (#) A complete cop% of t e #rticles of incorpor#tion. D enever #men!ments to #rticles of incorpor#tion #re file!& # complete cop% of t e #rticles& #s #men!e!& s #ll be file!. A complete cop% of t e b%2l#'s. D enever #men!ments to t e b%l#'s #re file!& # complete cop% of t e b%2l#'s #s #men!e! s #ll be file!.
(b) (8)
Instruments Definin" T e Ri" ts of Securit% >ol!ers& Inclu!in" In!entures (#) All instruments !efinin" t e ri" ts of ol!ers of t e e3uit% or !ebt securities bein" re"istere! inclu!in"& ' ere #pplic#ble& t e relev#nt portion of t e #rticles of incorpor#tion or b%2l#'s of t e re"istr#nt.
35
(b)
All instruments !efinin" t e ri" ts of ol!ers of lon" term !ebt unless t e tot#l #mount of !ebt covere! b% t e instrument !oes not e.cee! ten percent (1/0) of t e tot#l #ssets of t e re"istr#nt.
(?)
;pinion Re( =e"#lit% An opinion of in!epen!ent counsel #s to t e le"#lit% of t e securities bein" re"istere!& in!ic#tin" ' et er t e% 'ill& ' en sol!& be le"#ll% issue!& full% p#i! #n! non2#ssess#ble& #n!& if !ebt securities& ' et er t e% 'ill be bin!in" obli"#tions of t e re"istr#nt.
(A)
;pinion re( T#. :#tters An opinion of t#. counsel or of #n in!epen!ent certifie! public #ccount#nt ' ere t#. m#tters #re m#teri#l to #n investor #n! # represent#tion #s to t#. conse3uences is set fort in t e filin". If # t#. opinion is set fort in full in t e filin"& #n in!ic#tion t #t suc is t e c#se m#% be m#!e in lieu of filin" t e ot er'ise re3uire! e. ibit. T#. opinions m#% be con!itione! or m#% be 3u#lifie!& so lon" #s suc con!itions #n! 3u#lific#tions #re #!e3u#tel% !escribe! in t e filin".
(@)
Hotin" Trust A"reement An% votin" trust #"reements #n! #men!ments t ereto.
(B)
:#teri#l 4ontr#cts (#) Ever% contr#ct not m#!e in t e or!in#r% course of business ' ic is m#teri#l to t e re"istr#nt #n! is to be performe! in ' ole or in p#rt #t or #fter t e filin" of t e re"istr#tion st#tement or report or '#s entere! into not more t #n t'o %e#rs before suc filin". ;nl% contr#cts nee! be file! #s to ' ic t e re"istr#nt or subsi!i#r% of t e re"istr#nt is # p#rt% or #s succee!e! to # p#rt% b% #ssumption or #ssi"nment or in ' ic t e re"istr#nt or suc subsi!i#r% #s # benefici#l interest. If t e contr#ct or!in#ril% #ccomp#nies t e ,in! of business con!ucte! b% t e re"istr#nt #n! its subsi!i#ries& it 'ill be !eeme! to #ve been m#!e in t e or!in#r% course of business #n! nee! not be file!& unless it f#lls 'it in one or more of t e follo'in" c#te"ories& in ' ic c#se it s #ll be file! e.cept ' ere imm#teri#l in #mount or si"nific#nce( (i) An% contr#ct to ' ic !irectors& officers& promoters& votin" trustees& securit% ol!ers n#me! in t e re"istr#tion st#tement or report& or un!er'riters #re p#rties& ot er t #n contr#cts involvin" onl% t e purc #se or s#le of current #ssets #vin" # !etermin#ble m#r,et price& #t suc m#r,et price+ An% contr#ct upon ' ic t e re"istr#nt7s business is subst#nti#ll% !epen!ent& #s in t e c#se of continuin" contr#cts to sell t e m#1or p#rt of re"istr#nt7s pro!ucts or services or to purc #se t e m#1or p#rt of re"istr#nt7s re3uirements of "oo!s& services or r#' m#teri#ls or #n% fr#nc ise or license or ot er #"reement to use # p#tent& formul#& tr#!e secret& process or
(b)
(ii)
36
tr#!e n#me upon ' ic m#teri#l e.tent+ (iii)
re"istr#nt7s business !epen!s to #
An% contr#ct c#llin" for t e #c3uisition or s#le of #n% propert%& pl#nt or e3uipment for # consi!er#tion e.cee!in" fifteen percent (180) of suc fi.e! #ssets of t e re"istr#nt on # consoli!#te! b#sis+ or An% m#teri#l le#se un!er ' ic # p#rt of t e propert% !escribe! in t e re"istr#tion st#tement or report is el! b% t e re"istr#nt. An% m#n#"ement contr#ct or #n% compens#tor% pl#n& contr#ct or #rr#n"ement& inclu!in" but not limite! to pl#ns rel#tin" to options& '#rr#nts or ri" ts& pension& retirement or !eferre! compens#tion or bonus& incentive or profit s #rin" (or if not set fort in #n% form#l !ocument& # 'ritten !escription t ereof) in ' ic #n% !irector or #n% of t e n#me! e.ecutive officers of t e re"istr#nt& #s !efine! b% P#rt IH& p#r#"r#p (B)(1)(b) p#rticip#tes s #ll be !eeme! m#teri#l #n! s #ll be file!+ #n! #n% ot er m#n#"ement contr#ct or #n% ot er compens#tor% pl#n& contr#ct& or #rr#n"ement in ' ic #n% ot er e.ecutive officer of t e re"istr#nt p#rticip#tes s #ll be file! unless imm#teri#l in #mount or si"nific#nce. Not'it st#n!in" subp#r#"r#p (c)(i) #bove& t e follo'in" m#n#"ement contr#cts or compens#tor% pl#ns& contr#cts or #rr#n"ements nee! not be file!( A. B. 4. D. ;r!in#r% purc #se #n! s#les #"enc% #"reements. A"reements 'it m#n#"ers of stores in # c #in or"#ni*#tion or simil#r or"#ni*#tion. 4ontr#cts provi!in" for l#bor or s#lesmen7s bonuses or p#%ments to # cl#ss of securit% ol!ers& #s suc . An% compens#tor% pl#n& contr#ct or #rr#n"ement ' ic pursu#nt to its terms is #v#il#ble to emplo%ees& officers or !irectors "ener#ll% #n! ' ic in oper#tion provi!es for t e s#me met o! of #lloc#tion of benefits bet'een m#n#"ement #n! non2m#n#"ement p#rticip#nts. An% compens#tor% pl#n& contr#ct& or #rr#n"ement if t e re"istr#nt is # ' oll% o'ne! subsi!i#r% of # comp#n% t #t files reports pursu#nt to Section 1A of t e 4o!e #n! is filin" # report on SE4 )orm 1A2A or re"isterin" !ebt instruments or preferre! stoc, ' ic #re not votin" securities.
(iv)
(c)
(i)
(ii)
E.
*************************************************************
37
Instructions to Part 6II, Paragraph (-)(9) $. :nly copies of the various remunerative plans need be filed. !ach individual director1s or e)ecutive officer1s personal agreement under the plans need not be filed, unless they contain material provisions. If a material contract is e)ecuted or becomes effective during the reporting period reflected by 2:#< $/(>, it shall be filed as an e)hibit to 2:#< $/(> filed for the corresponding period. "ee paragraph (A)(&) of this Part 6II. ************************************************************
2.
(1/)
Annu#l Report to Securit% >ol!ers& );R: 1A2Q or Qu#rterl% Report To Securit% >ol!ers Suc reports& e.cept for t e p#rts ' ic #re e.pressl% incorpor#te! b% reference in t e filin"& #re to be furnis e! for t e inform#tion of t e 4ommission #n! #re not to be !eeme! Cfile!C #s p#rt of t e filin". If t e fin#nci#l st#tements in t e report #ve been incorpor#te! b% reference in t e filin"& t e #ccount#nt7s certific#te s #ll be m#nu#ll% si"ne! in one cop%.
(11)
:#teri#l )orei"n P#tents E#c m#teri#l forei"n p#tent for #n invention not covere! b% # P ilippines p#tent. If t e filin" is # re"istr#tion st#tement #n! if # subst#nti#l p#rt of t e securities to be offere!& or if t e procee!s t erefrom #ve been or #re to be use! for t e p#rticul#r purposes of #c3uirin"& !evelopin" or e.ploitin" one or more m#teri#l forei"n p#tents or p#tent ri" ts& furnis # list s o'in" t e number #n! # brief i!entific#tion of e#c suc p#tent or p#tent ri" t.
(1-)
=etter Re( Un#u!ite! Interim )in#nci#l Inform#tion A letter& ' ere #pplic#ble& from t e in!epen!ent #ccount#nt ' ic #c,no'le!"es #'#reness of t e use in # re"istr#tion st#tement of # report on un#u!ite! interim fin#nci#l inform#tion. T is letter is not consi!ere! # p#rt of # re"istr#tion st#tement prep#re! or certifie! b% #n #ccount#nt or # report prep#re! or certifie! b% #n #ccount#nt. Suc letter m#% be file! 'it t e re"istr#tion st#tement& #n #men!ment t ereto& or # report on SE4 )orm 1A2Q ' ic is incorpor#te! b% reference to t e re"istr#tion st#tement.
(1$)
=etter Re( 4 #n"e In 4ertif%in" Account#nt A letter from t e former #ccount#nt re"#r!in" is concurrence or !is#"reement 'it t e st#tements m#!e b% re"istr#nt concernin" #n% !is#"reements #s re3uire! un!er subp#r#"r#p (B)($) of P#rt III.
(19)
=etter Re( Director Resi"n#tion An% letter from # former !irector ' ic sets fort # !escription of # !is#"reement 'it t e re"istr#nt t #t le! to t e !irector7s resi"n#tion or refus#l to st#n! for re2election #n! ' ic re3uests t #t t e m#tter be !isclose!.
38
(18)
=etter Re( 4 #n"e In Accountin" Principles Unless previousl% file!& # letter from t e re"istr#nt7s in!epen!ent #ccount#nt in!ic#tin" ' et er #n% c #n"e in #ccountin" principles or pr#ctices follo'e! b% t e re"istr#nt& or #n% c #n"e in t e met o! of #ppl%in" #n% suc #ccountin" principles or pr#ctices& ' ic #ffecte! t e fin#nci#l st#tements bein" file! 'it t e 4ommission in t e report or ' ic is e.pecte! to #ffect t e fin#nci#l st#tements of future fisc#l %e#rs is to #n #ltern#tive principle ' ic in is 1u!"ment is prefer#ble un!er t e circumst#nces. No suc letter nee! be file! ' en suc c #n"e is m#!e in response to # st#n!#r! #!opte! b% t e Accountin" St#n!#r!s 4ouncil t #t cre#tes # ne' #ccountin" principle& t #t e.presses # preference for #n #ccountin" principle& or t #t re1ects # specific #ccountin" principle.
(1?)
Report )urnis e! T e Securit% >ol!ers If t e re"istr#nt m#,es #v#il#ble to its stoc, ol!ers or ot er'ise publis es& 'it in t e perio! prescribe! for filin" t e report& # !ocument or st#tement cont#inin" inform#tion meetin" some or #ll of t e re3uirements of P#rt I of SE4 )orm 1A2Q t e inform#tion c#lle! for m#% be incorpor#te! b% reference to suc publis e! !ocument or st#tement provi!e! copies t ereof #re inclu!e! #s #n e. ibit to t e re"istr#tion st#tement or to P#rt I of )orm 1A2Q.
(1A)
;t er Documents ;r St#tements To Securit% >ol!ers If t e re"istr#nt m#,es #v#il#ble to its stoc, ol!ers or ot er'ise publis es& 'it in t e perio! prescribe! for filin" t e report& # !ocument or st#tement cont#inin" inform#tion meetin" some or #ll of t e re3uirements of t is form t e inform#tion c#lle! for m#% be incorpor#te! b% reference to suc publis e! !ocument or st#tement provi!e! copies t ereof #re file! #s #n e. ibit to t e report on t is form.
(1@)
Subsi!i#ries ;f T e Re"istr#nt =ist #ll subsi!i#ries of t e re"istr#nt& t e province& countr% or ot er 1uris!iction of incorpor#tion or or"#ni*#tion of e#c #n! t e n#mes un!er ' ic suc subsi!i#ries !o business. T is list m#% be incorpor#te! b% reference from # !ocument ' ic inclu!es # complete #n! #ccur#te list.
(1B)
Publis e! Report Re"#r!in" :#tters Submitte! To Hote ;f Securit% >ol!ers Publis e! reports cont#inin" #ll of t e inform#tion c#lle! for in Item 9 of P#rt I of SE4 )orm 1A2A.
(-/)
4onsents ;f E.perts An! In!epen!ent 4ounsel (#) All 'ritten consents re3uire! to be file! un!er Section 1- of t e 4o!e s #ll be !#te! #n! m#nu#ll% si"ne!. D ere t e consent of #n e.pert or in!epen!ent counsel is cont#ine! in is report or opinion or else' ere in t e re"istr#tion st#tement or !ocument file! t ere'it & # reference s #ll be m#!e in t e in!e. to t e report& t e p#rt of t e re"istr#tion st#tement or !ocument or opinion& cont#inin" t e consent.
39
(b)
D ere t e filin" of # 'ritten consent is re3uire! 'it respect to m#teri#l incorpor#te! b% reference to # previousl% file! re"istr#tion st#tement un!er Section 1- of t e 4o!e or un!er t e Revise! Securities Act& suc consent m#% be file! #s e. ibit to t e m#teri#l incorpor#te! b% reference. Suc consents s #ll be !#te! #n! m#nu#ll% si"ne!.
(-1)
Po'er of Attorne% (#) If # person si"ns # re"istr#tion st#tement or report pursu#nt to # po'er of #ttorne%& # m#nu#ll% si"ne! cop% of t e po'er of #ttorne% s #ll be file!. D ere t e po'er of #ttorne% is cont#ine! else' ere in t e re"istr#tion st#tement or !ocuments file! t ere'it & # reference s #ll be m#!e in t e in!e. to ' ere it is loc#te!. In #!!ition& if #n officer si"ns # re"istr#tion st#tement for t e re"istr#nt b% # po'er of #ttorne%& # certifie! cop% of # resolution of t e re"istr#nt7s bo#r! of !irectors #ut ori*in" suc si"n#ture s #ll #lso be file!. A po'er of #ttorne% t #t is file! 'it t e 4ommission s #ll rel#te to # specific filin" or #n #men!ment t ereto. A po'er of #ttorne% t #t confers "ener#l #ut orit% s #ll not be file! 'it t e 4ommission. D ere t e re"istr#nt is not forme!& or"#ni*e! #n! e.istin" un!er t e l#'s of t e P ilippines& or is not !omicile! in t e P ilippines& # 'ritten& m#nu#ll% si"ne! po'er of #ttorne% s #ll be file! ' ic #s been certifie! #n! #ut entic#te! in #ccor!#nce 'it l#'& !esi"n#tin" some in!ivi!u#l person& ' o s #ll be # resi!ent of t e P ilippines& on ' om #n% summons #n! ot er le"#l processes m#% be serve! in #ll #ctions or ot er le"#l procee!in"s #"#inst im& #n! consentin" t #t service upon suc resi!ent #"ent s #ll be #!mitte! #s v#li! #n! proper service upon t e re"istr#nt& #n! if #t #n%time t #t service c#nnot be m#!e upon suc resi!ent #"ent& service s #ll be m#!e upon t e 4ommission.
(b)
(--)
St#tement ;f Eli"ibilit% ;f Trustee A st#tement of eli"ibilit% #n! 3u#lific#tion of e#c person !esi"n#te! to #ct #s trustee& un!er #n in!enture.
(-$)
E. ibits to be )ile! Dit C !!e'&i$l 6$%e'*@Bon! Issues ($) (() C'e,i" '$"in4 'e% '"A In &$*e ) ( n, ' l n4-"e'! & !!e'&i$l %$%e'* i**ue* un,e' & ll$"e'$l & n,i"i n ) 'e4i*"'$"i n, "#e ) ll /in4 *#$ll (e )ile,B (i) Bo#r! of Director5s 4ertific#te certif%in" t #t t e stoc, ol!ers o'nin" #t le#st # m#1orit% of t e subscribe! c#pit#l stoc, #ut ori*e! t e issu#nce #n! re"istr#tion of t e bon!s si"ne! b% t e 4 #irm#n6Presi!ent #n! m#1orit% of t e Bo#r! of Directors+ A resolution of t e Bo#r! of Directors& si"ne! b% #t le#st # m#1orit% of its members& cont#inin" t e follo'in"(
(ii)
40
(A)
!esi"n#tion of #t le#st t'o (-) senior officers 'it # r#n, of vice presi!ent or i" er or t eir e3uiv#lent to si"n t e bon! instrument to be issue!+ s#mple forms of t e bon! s o'in" t e terms #n! con!itions& t e f#ce v#lue& interest r#te (' ere #pplic#ble)& !#te or m#turit%. n %' %e' v$lu$"i n ) & ll$"e'$li3e,
(B)
(iii)
Su%% '"in4 , &u!en"* %' %e'"+B (A) (B)
report of #n in!epen!ent #!$ accredited #ppr#iser+ p otocop% of ;ri"in#l 4ertific#te of Title or Tr#nsfer 4ertific#te of Title 'it # certific#tion #s to #ut enticit% #n! "enuineness of t e title from t e re"ister of !ee!s of t e province6cit% ' ere t e propert% is situ#te!+ l#test t#. !ecl#r#tion on re#l est#te mort"#"e.
(4) (iv) (v)
trust in!enture e.ecute! b% #n! bet'een t e comp#n% #n! t e trustee b#n,. certific#tion from t e trustee t #t e #s receive! t e follo'in" !ocuments( (A) (B) ;'ner5s !uplic#te copies of ;ri"in#l 4ertific#te of Title or Tr#nsfer 4ertific#te of Title Re#l est#te mort"#"es& c #ttel mort"#"es #n! ple!"e #"reements !ul% re"istere! 'it t e #ppropri#te "overnment #"encies.
(-9)
E. ibits to be )ile! 'it Stoc, ;ptions Issues (#) (b) Bo#r! of Director5s resolution #ut ori*in" t e issu#nce of stoc, options. 4ertific#tion from t e 4orpor#te Secret#r% #s to t e stoc, ol!ers meetin" #pprovin" t e "r#nt of stoc, options to !irectors& m#n#"in" "roups or officers.
(-8)
E. ibits to be )ile! b% Investment 4omp#nies (#) 4opies of propose! m#n#"ement contr#cts& !istributors ip& un!er'ritin" #n! escro' or custo!i#l #"reements& #n! ot er contr#cts pert#inin" to t e investment& m#n#"ement or s#le of securities. 4ertific#tion& un!er o#t & b% t e Presi!ent #n! 4 #irm#n of t e Bo#r!& or t eir e3uiv#lent in r#n,& !escribin" t e involvement& if #n%& b% m#n#"ement or members of t e Bo#r! of Directors in comp#nies ' ic t e investment comp#n% 'ill be !e#lin" 'it .
(b)
(-?)
Not#ri*e! 4urriculum Hit#e #n! Re&en" P oto"r#p s of ;fficers #n! Directors
41
(-A) (-@)
4op% of Bo#r! of Investment certific#te in t e c#se of Bo#r! of Investment re"istere! comp#nies. Aut ori*#tion to 4ommission to #ccess re"istr#nt5s b#n, #ccounts. P#rt HI& p#r#"r#p (N) of t is Anne. re3uires #ll re"istr#nts to submit 'it its re"istr#tion st#tement # continuin" #ut ori*#tion to t e 4ommission to e.#mine t e issuer5s b#n, #ccounts #n! t ose of its subsi!i#ries& #ffili#tes #n! control corpor#tions.
(-B)
A!!ition#l E. ibits An% #!!ition#l $n, !$"e'i$l e:#i(i"* /#i&# "#e C !!i**i n !$+ 'eCui'e ' ' ic t e re"istr#nt m#% 'is to file s #ll be so m#r,e! #s to in!ic#te cle#rl% t e sub1ect m#tters to ' ic t e% refer. T e% s #ll be liste! #n! !escribe! in t e e. ibit in!e..
($/)
4op% of t e Bo#r! Resolution #pprovin" t e securities offerin" #n! #ut ori*in" t e filin" of t e re"istr#tion st#tement.
($1)Dul% verifie! resolution of t e issuer5s Bo#r! of Directors (#) T e resolution s #ll be !#te! #n! m#nu#ll% si"ne! b% # m#1orit% of t e issuer5s Bo#r! of Directors& in t eir c#p#cit% #s !irectors. (b) T e Bo#r! of Directors s #ll #pprove t e !isclosures cont#ine! in t e re"istr#tion st#tement #n! #ssume responsibilit% for t e inform#tion cont#ine! t erein. (82) Se&'e"$'+-* Ce'"i)i&$"e &e'"i)+in4 "#$" "#e & !%$n+-* 7 $', ) Di'e&" '* #$* $, %"e, $n $))i'!$"ive 'e* lu"i n /i"# 'e*%e&" " "#e ) ll /in4 !$""e'*B Su(!i**i n ) $ M$nu$l ) C '% '$"e < ve'n$n&e (i) n " +e" )ile,)A A, %"i n ) $ Fi" $n, 6' %e' Rule ) ' "#e *ele&"i n ,i'e&" '* $n, ))i&e'*A ) & '% '$"e
Su(!i**i n ) $n Un,e'"$1in4 $ll /in4 "#e SEC " 'e* lve & n)li&"in4 i**ue* 'e4$',in4 "#e *ele&"i n ) in,e%en,en" ,i'e&" '*2
(88)
E:#i(i"* " (e )ile, ) ' %' %'ie"$'+ ' n n-%' %'ie"$'+ *#$'e* i**ue*
($)
N "$'i3e, un,e'"$1in4 "#$" in "#e even" "#e %' .e&" ) ' /#i&# "#e *e&u'i"ie* $'e * l, i* n " & !%le"e, $* ,i*&l *e,, i" *#$ll 'e)un, $ll inve*"!en"* ) %u'&#$*e'* /i"#in "en (1D) ,$+* )' ! /'i""en ,e!$n,2 C %+ ) "#e Su(*&'i%"i n A4'ee!en" & n"$inin4 "#e 'eCui'e, un,e'"$1in4 un,e' %$'$4'$%# ($) $( ve2 C %+ ) C'e,i" Line A4'ee!en" /i"# $ ($n1 of sufficient standing2 Su&# &'e,i" line *#$ll (e $v$ile, ) in the event ) in*u))i&ien&+ )
(() (&)
42
)un, ) ' "#e & !%le"i n ) "#e %' .e&" as originally stated2 T#e "e'!* ) "#e $4'ee!en" *#$ll (e ,i*&l *e, in "#e %' *%e&"u*2 (,) (e) ()) (4) (#) (i) (.) (1) (8E) C %+ ) # u*e@!e!(e'*#i% 'ule* $n, 'e4ul$"i n*A C %+ ) (' &#u'e* $n, "#e' *ellin4 !$"e'i$l*A C %+ ) "#e Envi' n!en"$l C !%li$n&e Ce'"i)i&$"e (ECC)A Ce'"i)ie, T'ue C %+ ) Ce'"i)i&$"e ) Ti"le ) Re$l 6' %e'"+A C %+ ) Le$*e C n"'$&" (i) %' %e'"+ i* un,e' le$*e)A C %+ ) T'u*" A4'ee!en" (i) "i!e*#$'e*)A C %+ ) Cu*" ,i$n A4'ee!en" /i"# $ ($n1A C %+ ) Devel %!en" A4'ee!en", i) $n+2
E:#i(i"* " (e )ile, ) ' =$''$n" I**ue* ($) (() C %+ ) $ =$''$n" Ce'"i)i&$"eA C %+ ) $ =$''$n" In*"'u!en" & n,i"i n* ) "#e /$''$n"2
' $ ,ee, & n"$inin4 "#e "e'!* $n,
43

Annex C - As Amended

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Annex C - As Amended

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ANNEX C, AS AMENDED ( SRC Rule 12 ) NON-FINANCIAL DISCLOSURE REQUIREMENTS PART I BUSINESS (A) Description of Business.

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

:inin" #n! ;il 4omp#nies

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

(!) (e) (-)

Describe #n% stoc, ol!ers.

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

i. ii. iii. iv. v. vi.

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

:ANA<E:ENT AND 4ERTAIN SE4URITI >;=DERS

(b) (c) (!) (e) (-)

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annu#l 4ompens#tion KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

(1) Title of cl#ss

(-) N#me of benefici#l ;'ner

($) Amount #n! n#ture of benefici#l o'ners ip

(9) 4iti*ens ip (8) Percent of 4l#ss

Definitions22)or purposes of t is p#r#"r#p (4)(

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

(!) (e) (f) (") (-) ($) (9)

Annex C SRC Rule 12 December 2003

(f) (") ( ) (E) Use of Procee!s (1)

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

EX9I7IT TA7LE SECURITIES RE<ULATION CODE FORMS

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

tr#!e n#me upon ' ic m#teri#l e.tent+ (iii)

re"istr#nt7s business !epen!s to #

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

Su%% '"in4 , &u!en"* %' %e'"+B (A) (B)

(4) (iv) (v)

Not#ri*e! 4urriculum Hit#e #n! Re&en" P oto"r#p s of ;fficers #n! Directors

Annex C SRC Rule 12 December 2003

Annex C SRC Rule 12 December 2003

' $ ,ee, & n"$inin4 "#e "e'!* $n,

Annex C SRC Rule 12 December 2003

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