12F Strata 100 Bldg., F. Ortigas Jr. Road, Ortigas Center, Pasig City
Tel. No. 632-7373/Fax No. 631-2846
22 October 2012
PHILIPPINE STOCK EXCHANGE INC.
Listings & Disclosure Group
3rd Floor Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue
Attention:
MS. JANET A. ENCARNACION
Head, Disclosure Department
-----------------------------------------Gentlemen:
Please be informed that the Board of Directors of MJC Investments Corp.
(the “Corporation”) approved during its meeting today the subscription by sixteen (16)
investment
holding companies
to
2,148,720,965
shares
amounting
to
Php2,148,720,965.00 in the expanded capital of the Corporation. It is expected that
upon completion of the subscription, the foreign ownership of the Corporation will be
forty percent (40%).
For your information and guidance.
Very truly yours,
HEATHER EZRA C. ANNANG
Corporate Information Officer
FOR IMMEDIATE RELEASE
MJC INVESTMENTS CORPORATION ANNOUNCES PESOS
2.148 BILLION INVESTMENT TO FUND CONSTRUCTION OF
HOTEL, TOURISM AND ENTERTAINMENT HUB TO BE
LOCATED AT SAN LAZARO BUSINESS AND TOURISM PARK
IN SANTA CRUZ, MANILA
 PRIVATE INVESTMENT HOLDING FIRMS SUBSCRIBE TO
2,148,720,965 NEW COMMON MIC SHARES PRICED AT PESO 1
PER SHARE
 INVESTMENT PROCEEEDS TO BE DEVOTED TO CONSTRUCTION
OF HOTEL TOWER, ENTERTAINMENT AND TOURISM PODIUM,
AND OTHER NEW PROJECTS; CONSTRUCTION OF MANILA
HOTEL PROJECT ALREADY UNDERWAY
22nd OCTOBER 2012, MANILA, PHILIPPINES –- Manila Jockey Club
Investments Corporation (“MIC”) (PSE: “MJIC”) today announced that at its
regular meeting of Board of Directors, it approved the subscription by sixteen
investment holding companies to 2,148,720,655 new MIC shares, for a total
consideration of Pesos 2,148,720,655.
Recently, the shareholders of MIC had approved the increase of MIC’s capital
stock from Pesos 1.5 billion to Pesos 5 billion to accommodate the entry of
new investors and new capital as MIC prepares to aggressively enter the fastgrowing tourism sector.
MIC’s first tourism project, a hotel, entertainment and tourism hub, is to be
located at the San Lazaro Business and Tourism Park in Santa Cruz, Manila.
Piling works have already begun. Envisaged to be a striking 18-floor tower
and podium with an initial complement of 160 rooms and 900 parking slots at
opening, the project is expected to be completed in 2015. Other anticipated
projects by MIC will include a resort-style leisure hotel and complex to be
located at the San Lazaro Leisure Park in Carmona, Cavite, high-income
assisted living residential facilities, and other distinctive tourism products to be
located at high growth areas throughout the Philippines.
“Today’s investment by a group of local and foreign-controlled local investing
firms is a transformative event for MIC and also for its current majority
shareholder, MJC. This project ensures that MIC is fully committed to
becoming a significant participant in the rapidly growing tourism and
entertainment space. Moreover, the investment ensures that the entire
project cost related to the MIC’s first development project – also the first true
luxury hotel to be built North of the Pasig River in many years – will be fully
covered,” said MIC Chairman of the Board Attorney Alfonso R. Reyno, Jr.
“We believe this is an exciting time for both MIC and MJC and we continue to
thank our shareholders and the investing public for their continued support.”
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MJC Investment Corp., Proposed Hotel Perspective
-- END –
For Manila Jockey Club Investments Inc. / Manila Jockey Club, Inc:
Contact: David Nugent +632-914-4756 / +63-918-921-2929
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