president’s report - cebu landmasters...reservation sales as of q3 2017 already exceeded 2016 full...

PRESIDENT’S REPORTJose R. Soberano III

Chairman & CEO

42 DEVELOPMENTS IN 7 KEY CITIES:Cebu, Davao, CDO, Dumaguete, Bohol, Bacolod, and Iloilo

•

•

•

CHIEF FINANCE OFFICER’S REPORTSTEPHEN A. TAN

FIVE-YEAR (2012-2016)FINANCIAL PERFORMANCE

INCOME STATEMENT

BALANCE SHEET

FOR APPROVAL:

AUDITED

FINANCIAL STATEMENT

2016

CONTINUED OUTSTANDINGFINANCIAL GROWTH IN Q3 2017

•

•

•

YTD Sept 2017 (unaudited)

2,769

2,736

31

1

1,421

1,347

351

10

(33)

973

33

940

49%

13%

34%

23%

10%

0.55

IPO PROCEEDSUTILIZED AHEAD OF SCHEDULE

•

•

RESERVATION SALES AS OF Q3 2017ALREADY EXCEEDED 2016 FULL SALES FIGURE

1,179

1,642

2,111

1,799

2,946

3,662

2012 2013 2014 2015 2016 YTD Sept 2017

CHIEF OPERATING OFFICER’S REPORTJOSE FRANCO B. SOBERANO

42 DEVELOPMENTS IN 7 KEY CITIES:Cebu, Davao, CDO, Dumaguete, Bohol, Bacolod, and Iloilo

•

•

•

17 Subdivisions, 14 Condominiums,8 Commercial Projects and 3 Hotels

14 Completed, 14 Ongoing, and14 Projects to be Launched

Total of 16,006 units, 42 developments in various stagesamounting to P45.026B

Building up ofOffice Portfolio

Casa Mira Cost, Sibulan

550 units Launch

date: Q4 2017

Building up ofResidential Condominium Portfolio

Building up ofResidential Subdivision Portfolio

Building up ofMixed-Use Portfolio

Building up ofRetail Portfolio

Building up ofHotel Portfolio

Casa Mira Cost, Sibulan

550 units Launch

date: Q4 2017

OFFICE: Latitude Corporate Center, CebuStart of Operations: Q4 2019

OFFICE: Park Centrale Cebu100% Leased, Cebu IT Park

Newly Launched Projects

Ongoing Construction

Ongoing Turnover

Key Launches for H2 2017

Key Launches for H2 2017

•

•

•

• Outstanding financial growth in Q3 2017

••

• IPO proceeds utilized ahead of schedule, 28%

• Reservation sales as of Q3 2017 already exceeded 2016

full sales figure by 26%

• CLI on track to surpass Php1.2 billion net income

year-end target

IN SUMMARY

FOR APPROVAL:

ALL ACTS OF THE BOARD OF

DIRECTORS IN 2016

The following were the key decisions made by the Board of Directors in 2016:

1. Cause the listing of CLI on the stock market via IPO and in relation to this amend the CLI Articles and By-laws in order to:

a. Increase the authorized capital stock to 2.5 billion common and preferred shares and offer up to 580 million common shares to the public via primary and secondary offering


b. Increase the number of directors to 9 and appoint the first 3 independent directors

c. Engage the services of BDO Capital and BPI Capital as lead underwriters and bookrunners, ACCRA as legal counsel; BDO Trust as stock and transfer, receiving, and escrow agent; and the Philippine Depository & Trust Corporation as well as other agents necessary to carry out the registration and licensing of the IPO shares with the SEC and listing it with the Philippine Stock Exchange


2. Adopt a Manual on Corporate Governance and create Board committees for audit, nomination, compensation and remuneration, and corporate governance

3. Create and appoint the office holders of the following new positions: Assistant Corporate Secretary, Assistant Treasurer, Compliance Officer, Investor Relations Officer, and Internal Auditor

FOR APPROVAL:

POSTPONEMENT OF BOD

ELECTION TO NEXT ANNUAL

STOCKHOLDERS MEETING

FOR APPROVAL:

APPOINTMENT OF INDEPENDENT

AUDITOR FOR 2017

FOR APPROVAL:

AMENDMENT TO THE BY-LAWS

Proposed Amendments to CLI By-laws

1. Amendment to Article III, Section 2 of the CLI By-laws, which sets the schedule of the annual stockholders meeting.

FOR APPROVAL:


Proposed Amendment:

BE IT RESOLVED, as it is hereby resolved, that Article III, Section 2 of the Corporation's By-laws shall be amended to read as follows:

FOR APPROVAL:


“Section 2. Annual Meetings. The annual meeting of the stockholders for the election of directors and for the transaction of such other business as may come before the meeting shall be held at the principal office of the Corporation not later than May 31 of each year unless such day falls on a holiday, in which case the meeting shall be held on the next following business day.

FOR APPROVAL:


If for reasonable cause the election of directors shall not be held on the day designated for any annual meeting or at any adjournment of such meeting, the Board of Directors after proper notice thereof has been given, shall cause the election to be held at a convention or special meeting as thereafter as the same may conveniently be held. At such special meeting, the stockholders may elect the directors and transfer or transact any business as stated in the notice of the meeting with the same force and effect as at an annual meeting duly called and held.”

FOR APPROVAL:


Proposed Amendments to CLI By-laws

2. 2. Amendment to Article IV, Section 2 of the CLI By-laws, which sets the number of CLI directors.

FOR APPROVAL:


Proposed Amendment:

BE IT RESOLVED, as it is hereby resolved, that Article IV, Section 2 of the Corporation's By-laws shall be amended to read as follows:

FOR APPROVAL:


“Section 2. Number, Qualifications and Term of Office. Any stockholder having at least one (1) share registered in his name may be elected director. Three (3) of the nine (9) directors provided in the Articles of Incorporation shall be independent directors.

FOR APPROVAL:


Such directors and independent directors shall have such qualifications and none of the disqualifications provided for in the Corporation Code, Securities Regulation Code, the Corporation's Manual on Corporate Governance and other relevant laws and regulations. The manner of electing and terminating the independent directors shall be in accordance with the Corporation's Manual on Corporate Governance.”

FOR APPROVAL:


OTHER MATTERS

president’s report - cebu landmasters...reservation sales as of q3 2017 already exceeded 2016 full...

Documents