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Joint press statement by the house of investments and ayala corporation regarding the proposed merger of their education groups

iPeople, inc. ("iPeople"), the listed holding company for the education sector of House of Investments Inc., a member of the Yuchengco Group of Companies, and AC Education, Inc. ("AEI"), the wholly-owned education arm of Ayala Corporation, have executed a Non-Binding term sheet for their potential merger. Under the Non-Binding term sheet, the parties agreed to an exclusivity period to complete due diligence, and to finalize the terms and conditions of the proposed merger within the first quarter of 2018. All terms and conditions of the proposed merger, including the involvement of House of Investments and Ayala Corporation in the management of the surviving entity, iPeople, shall be presented for approval by the parties' respective boards of directors and merging parties’ stockholders, and the transaction will be subject to the requisite regulatory approvals as well.


The potential merger would bring together the educational institutions of House of Investments and Ayala Corporation (iPeople and AEI respectively). The potential merger would include iPeople and its significant subsidiary, Malayan Education System, Inc. (Operating under the name of Mapua University), a leading private engineering and technical university in the country, a world ranked QS-3 star university and the school with the most CHED Centers of Excellence in Engineering, and its subsidiaries, Malayan Colleges Laguna, the best board exam performing private school in Calabarzon, and Malayan Colleges Mindanao, and AEI and its subsidiaries, the University of Nueva Caceres, one of the oldest and largest universities in Bicol, and APEC Schools, the largest stand-alone chain of private high schools in the country. Together, the combined population would be over 40,000 students.


"We are looking forward to this potential merger. Mapua's reputation as a leading private engineering and technical university in the country, together with AEI's ability to provide quality education leading to enhanced employability, at an affordable price, would enable the Yuchengco Group of Companies and Ayala Corporation to jointly contribute to the improvement of the quality of education in the Philippines, for the benefit of all sectors of society," said Mrs. Helen Y. Dee, Chairperson of House of Investments, Inc.


"We are very pleased about this opportunity to partner with the Yuchengco Group of Companies to help build our nation through education. Our belief is that the potential combination of iPeople and AEI would create significant synergies that would enable us to better equip students for compelling futures." said Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corporation.




 

For details, contact:

House of Investments
Investor Relations Office
Ring F. Joven
E rfjoven@hoi.com.ph

iPeople inc.
Investor Relations Office
Ring F. Joven
E rfjoven@hoi.com.ph

Ayala Corporation
Corporate Communications
Yla Patricia G. Alcantara
E alcantara.ypg@ayala.com.ph

  

Notice of Cash Dividend declaration

The company hereby informs the public of the declaration of a Php0.06 per common share or 6% cash dividend on the outstanding common shares of 748,933,221.00 with a total amount of Php44,935,993.26 from the Company's unrestricted retained earnings as of December 31, 2015 to the iPeople, inc. shareholders of record as of December 23, 2016. Payment date is on January 18, 2017.



 

MR. RENATO C. VALENCIA
Chairman

DR. REYNALDO B. VEA
President and CEO

MS. GEMA O. CHENG
EVP - Chief Finance Officer and Treasurer

MR. JOSELITO D. ESTRELLA
SVP - Chief Information Officer

MS. MA. ESPERANZA F. JOVEN
VP - Finance

MS. MA. TERESA T. BAUTISTA
VP - Controller

MR. JOSE A. TANJANGCO, III
AVP - Chief Risk Officer

ATTY. LALAINE P. MONSERATE
AVP - Legal and Compliance Officer

ATTY. SAMUEL V. TORRES
Corporate Secretary

ATTY. MA. ELVIRA BERNADETTE C. GARCIA-GONZALEZ
Assistant Corporate Secretary

 

Awards

iPeople was recognized by Forbes Magazine as one of the world’s “200 Best under a Billion” companies in 2003 and 2004. Incidentally, only two Philippine companies made it to the 2003 and 2004 registers.

  

 

 

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