Manila Broadcasting : Acquisition or Disposition of Assets

SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Mar 24, 20222. SEC Identification Number 16743. BIR Tax Identification No. 000-479-027-0004. Exact name of issuer as specified in its charter MANILA BROADCASTING COMPANY5. Province, country or other jurisdiction of incorporation METRO MANILA, PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office MBC BLDG., V. SOTTO ST., CCP COMPLEX, PASAY CITYPostal Code13078. Issuer's telephone number, including area code [phone]9. Former name or former address, if changed since last report No change in address since its last report to this Honorable Commission10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	402,682,990
Total Liabilities	1,034,814,345

11. Indicate the item numbers reported herein Item 9

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.

Manila Broadcasting CompanyMBC PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Purchase of UnionBank property.

Background/Description of the Disclosure

On March 24, 2022, Manila Broadcasting Company's Board of Directors, approved the acquisition of UnionBank property located at Lot 175-A, No. 2519, Taft Avenue, Barangay 89, Zone 9, District 1, San Rafael, Pasay City.

Date of Approval by Board of Directors

Mar 24, 2022

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The property will be Manila Broadcasting Company's future headquarters.

Details of the acquisition or disposition

Date	Apr 6, 2022

Description of the Transaction

Acquisition of UnionBank property.

Manner

Execution of Deed of Absolute Sale

Description of the assets involved

Property located at Lot 175-A, No. 2519, Taft Avenue, Barangay 89, Zone 9, District 1, San Rafael, Pasay City with an area of 800 sq.m.

Terms and conditions of the transaction

Nature and amount of consideration given or received

Php 133,520,000.00

Principle followed in determining the amount of consideration

The amount of consideration is based on the agreement between the seller, UnionBank, and Manila Broadcasting Company.

Terms of payment

Check payment for full amount.

Conditions precedent to closing of the transaction, if any

Standard conditions such as signing of Deed of Absolute Sale and other documents necessary and desirable under the premises.

Any other salient terms

None

Identity of the person(s) from whom the assets were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
UnionBank of the Philippines	None

Effect(s) on the business, financial condition and operations of the Issuer, if any

The acquisition of property is part of Manila Broadcasting Company's future use.

Other Relevant Information

None

If the transaction being reported is an acquisition, kindly submit the following additional information:

Source(s) of funds

From internally generated funds.

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

The said property is a vacant lot owned by UnionBank. Manila Broadcasting Company intends to use the property as its office.

Filed on behalf by:

Name	Eduardo Cordova
Designation	SVP-CFO