 Top Line Business Development Corp. will invest P385 million in its fuel importation and distribution operations. At its special meeting held on October 8, 2025, the Board of Directors of Top Line Business Development Corp. (TOP) approved the additional subscription to the capital stock of Light Fuels Corporation (LFC) amounting to P199,496,200.00, equivalent to 1,994,962 common shares of stock to be issued out of the increase of authorized capital stock of LFC.
The additional subscription is subject to the approval by the Securities and Exchange Commission (SEC) of the application for increase in the authorized capital stock (ACS) of LFC. The additional subscription by TOP is intended to provide LFC with additional equity, thereby supporting its growth initiatives and retail network expansion program. The terms and conditions of the transaction: Number of shares to be acquired or disposed: 1,994,962 Percentage to the total outstanding shares of the company subject of the transaction: 99.75% Price per share: Total P199,496,200 (par value of P100 per share) Light Fuels Corporation (LFC) is a subsidiary of TOP, with TOP holding a 99.75% ownership interest. The firm's board also approved additional subscription to the capital stock of Topline Logistics and Development Corp. (TLDC) amounting to P185,625,000.00, equivalent to 1,856,250 common shares of stock to be issued out of the increase of authorized capital stock of TLDC. The additional subscription is also subject to the approval by the Securities and Exchange Commission (SEC) of the TLDC’s application for increase in the authorized capital stock. The additional subscription by TOP is intended to support the scale of operations expected from TLDC’s import activities, in line with the issuance of its Certificate of Registration from the Bureau of Customs. The terms and conditions of the transaction: Number of shares to be acquired or disposed: 1,856,250 Percentage to the total outstanding shares of the company subject of the transaction: 75% Price per share: Total P185,625,000 (par value of Php100 per share) Topline Logistics and Development Corp. (TLDC) is a subsidiary of TOP, with TOP holding a 75% ownership interest. |
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