SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Aug 18, 20222. SEC Identification Number PW5383. BIR Tax Identification No. 000-225-4424. Exact name of issuer as specified in its charter FAR EASTERN UNIVERSITY, INC.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office Nicanor Reyes Street, Sampaloc, Manila Postal CodePostal Code10158. Issuer's telephone number, including area code 02-8735-86869. Former name or former address, if changed since last report Not Applicable10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON 24,055,763
11. Indicate the item numbers reported herein 1

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Far Eastern University, IncorporatedFEU PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Investment of Far Eastern University, Inc. in Good Samaritan Colleges, Inc.

Background/Description of the Disclosure

In Far Eastern University's ("FEU") board meeting on August 16, 2022, the Board of Trustees approved an equity investment of up to Seventy Million Pesos (P70,000,000.00) in Good Samaritan Colleges, Inc. ("GSC"), an educational institution that offers junior and senior high school, tertiary and graduate school education in Cabanatuan City, Nueva Ecija.

FEU will make the necessary disclosures regarding the investment as soon as the agreement is signed.

Date of Approval by
Board of Directors 		Aug 16, 2022
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

This would also allow both schools to partner together in expanding the educational offerings and operations of GSC in Cabanatuan.

Details of the acquisition or disposition
Date TBA
Manner

FEU will acquire Seventy-Seven Thousand Two Hundred Seventy-Three (77,273) shares of common stock of GSC, which is equivalent to 34% of the outstanding capital stock. The Board also approved the execution of an investment agreement and shareholders agreement with GSC and its shareholders, as well as any related documents and agreements.

Description of the company to be acquired or sold

Good Samaritan Colleges, Inc. ("GSC") is an educational institution that offers junior and senior high school, tertiary and graduate school education in Cabanatuan City, Nueva Ecija.

The terms and conditions of the transaction
Number of shares to be acquired or disposed 77,273
Percentage to the total outstanding shares of the company subject of the transaction 34
Price per share TBD
Nature and amount of consideration given or received

Up to Seventy Million Pesos (P70,000,000.00)

Principle followed in determining the amount of consideration

TBD

Terms of payment

TBD

Conditions precedent to closing of the transaction, if any

TBD

Any other salient terms

TBD

Identity of the person(s) from whom the shares were acquired or to whom they were sold
Name Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Good Samaritan Colleges, Inc. None
Effect(s) on the business, financial condition and operations of the Issuer, if any

This would also allow FEU and GSC to partner together in expanding the educational offerings and operations of GSC in Cabanatuan.

Other Relevant Information

Board of Trustees of Far Eastern University's ("FEU") approved today, 16 August 2022, approved an investment in Seventy-Seven Thousand Two Hundred Seventy-Three (77,273) shares of common stock in Good Samaritan Colleges, Inc. ("GSC"), which represents 34% of GSC's outstanding capital stock, for a total subscription price of up to Seventy Million Pesos (P70,000,000.00).

The Board also approved the execution of an investment agreement and shareholders agreement with GSC and its shareholders, as well as any related documents and agreements.

Please see attached SEC 17-C Report of the Company.

Filed on behalf by:
Name MA. CRISTINA TALAMPAS
Designation ADMINISTRATION MANAGER

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Far Eastern University Inc. published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 06:43:02 UTC.