Sta. Lucia Land Incorporated received a statement Letter form the Securities and Exchange Commission on October 12, 2021 where the Corporation Registration letter regarding to its follow-on offering have been approved by Securities and Exchange Commission (SEC).

The Letter concludes that the registration according to the Primary Offer of (3,000,000,000) common shares, consisting more than (2,500,000,000) shares. With an Over-subscription up to Five Hundred Million (500,000,000) with a value of One Peso (1.00) per share. That is going to sold to the public at an offer price reach to P2.38 to P.3.29 per share to be listed and traded to the Main Board of the (PSE) Philippine Stock Exchange, Inc. said by the Securities and Exchange Commission. Through the issuance of an Order Registration and Permit to sell Securities shall be issued to the Corporation.

If the follow on offering would be successful, Sta Lucia Land Inc, will be able to generate a total of 9.87 Billion pesos. FOO will be on November 10-19, 2021 while its listing date in the Philippine stock exchange would be on November 26, 2021.

The Department of Justice (DOJ) revealed that Mactan-Cebu International Airport Authority (MCIAA) former general manager and chief executive officer Steve Dicdican, 15 Filipino and foreign top officials of GMR-Megawide Cebu Airport Corporation (GMCAC) for allegedly violating the anti-dummy law. . The case arised from a complaint filed with the National Bureau of Investigation, allegedly Mactan Cebu International Airport is operated and managed by non-Filipinos with the knowledge of the Filipino officers of the airport and GMR-Megawide Cebu Airport Corporation (GMCAC).

NBI also said with the private complainant Mr. Larry Iguidez that Mr. Steve Dicdican violated the improved Commonwealth era Anti-Dummy Law associated with the awarding of the 25-year operations and maintenance contract to Megawide Construction Corporation and its Indian partner GMR Infrastructure Limited for the MCIA in 2014. On October 8 announced on October 14, Department of Justice (DOJ) also indicted Dicdican for “knowingly assisting, aiding and abetting the commission of a violation of the anti-dummy law.

The 15 Filipino and foreign top officials of GMR-Megawide Cebu Airport Corporation (GMCAC) will be filed with separate charges and will be charged before the regional trial court in Central Visayas. Foreign nationals Andrew Acquaah-Harrison, Ravi Bhatnagar, Ravishankar Saravu, Michael Lenane, Sudarshan Madhav Doddathota, Kumar Gaurav, Magesh Nambiar and Rajesh Madan acted as executives, managers or employees of the corporation ‘in the guise of being advisors, experts and/or technical personnel.’ Prosecutors said.

Megawide said, it has not received any official documents pertaining the filing of criminal charges against the directors and officers of GMR Megawide Cebu Airport Corporation (GMCAC) for the alleged violation of the Anti-Dummy Law. Rest assured that we will respond to this case in the proper fora, and do so successfully. Megawide and its subsidiaries have always been and continue to be firmly adherent to all applicable laws, rules, and regulations, particularly regarding public-private partnership projects such as the Mactan-Cebu International Airport (MCIA)