MacroAsia Catering Services, Inc., a MacroAsia Subsidiary, Declares Property Dividends

On September 12, 2024, during the Special Stockholders’ Meeting of MacroAsia Catering Services, Inc. (MACS), 67% owned subsidiary of MacroAsia Corporation (MAC) and 33% owned by SATS Ltd., its stockholders approved the declaration of property dividends, which consist of shares of stocks at cost of MACS’ two subsidiaries.

MacroAsia SATS Inflight Services Corporation (MSIS) - Php100.00 Par Value, 1,000,000 shares

• Allocation to MacroAsia Corporation (67%): 670,000
• Allocation to SATS Ltd. (33%): 330,000

MacroAsia SATS Food Industries Corporation (MSFI) - Php100.00 Par Value, 2,000,000 shares

• Allocation to MacroAsia Corporation (67%): 1,340,000
• Allocation to SATS Ltd. (33%): 660,000

The transfer of ownership shall be subject to the release of the electronic Certificate Authorizing Registration (eCAR) under the Bureau of Internal Revenue (BIR) rules.

This declaration of property dividends is part of the restructuring of MacroAsia’s Food Group wherein MacroAsia SATS Food Industries Corporation (MSFI or the Sucat Commissary) will be the Parent Company of the Food Group replacing MACS. The two airline catering kitchens, MACS and MSIS will be fully owned subsidiaries of MSFI.

MacroAsia Catering Services (MACS) is the first fully functional In-flight Catering facility located inside the premises of the Ninoy Aquino International Airport (NAIA) in Manila, Philippines.

MacroAsia Corporation (MAC) is a publicly listed Filipino corporation basically in the business of Aviation Support Services. As the major partner, it has a stake of 67% in MACS. Being physically closest to MACS, as the other owner is based abroad, MacroAsia Corporation provides immediate support to MACS, in any contingency.