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) Jun 10, 20222. SEC Identification Number 1013. BIR Tax Identification No. 320-000-160-2474. Exact name of issuer as specified in its charter LEPANTO CONSOLIDATED MINING COMPANY5. Province, country or other jurisdiction of incorporation Makati City, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 21st Floor, Lepanto Building, 8747 Paseo de Roxas, Makati City, PhilippinesPostal Code12268. Issuer's telephone number, including area code (632) 8815-94479. Former name or former address, if changed since last report n/a10. 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
Class "A"
39,822,869,196
Class "B"
26,552,888,901
11. Indicate the item numbers reported herein -
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.
Lepanto Consolidated Mining CompanyLC
PSE Disclosure Form 4-26 - Legal Proceedings References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Favorable Court of Appeals Decision in the case "Lepanto Consolidated Mining Company vs. N.M. Rothschild & Sons (Australia) Ltd."
Background/Description of the Disclosure
The Company initiated in 2005 a case for the declaration of nullity of hedging contracts with Rothschild on the ground that they are considered as wagering transactions under Article 2018 of the Civil Code. The RTC-Makati upheld the position of Lepanto, declaring as null and void the said hedging contracts in a decision dated February 5, 2018. Rothschild elevated the matter to the Court of Appeals and in a decision dated May 26, 2022 which Lepanto received on June 10, 2022, the Court of Appeals affirmed in toto the RTC Makati's decision.
Name of the court or agency in which the proceedings are pending
Court of Appeals
Date Instituted
Aug 30, 2005
Docket Number
CA-G.R. CV No. 112286
Principal Parties
Lepanto Consolidated Mining Company
N.M. Rothschild & Sons (Australia) Ltd.
Nature and description of the legal proceedings
Affirmation by the Court of Appeals of the RTC-Makati's 2018 decision declaring as null and void certain hedging contracts between Lepanto and Rothschild.
The effect(s) on the Issuer's business or operations, if any
This decision has no effect on the current business or operations of Lepanto.
Other Relevant Information
n/a
Filed on behalf by:
Name
Odette Javier
Designation
Vice President and Assistant Corporate Secretary
Attachments
Original Link
Original Document
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Lepanto Consolidated Mining Company published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 04:02:05 UTC.
Lepanto Consolidated Mining Company is primarily engaged in the exploration and mining of gold, silver, copper, lead, zinc and all kinds of ores, metals, minerals, oil, gas and coal and their related by-products. The Companyâs segments include Hauling and Leasing activities, Insurance activities, Drilling activities, and Manufacturing and Trading. Hauling and Leasing activities segment is engaged in handling all kinds of material, products and supplies in bulk and maintaining and operating terminal facilities, such as piers and warehouses. Insurance activities segment is involved in short-duration insurance contracts, which are recognized over a period of the contracts using the 24th month method. Drilling activities segment provides drilling services to its related and outside parties. Manufacturing and Trading segment is involved in manufacturing, distribution, selling and buying machinery and equipment, general merchandise and articles related to the diamond core drilling industry.