Securities and Exchange Commission Sec Form 17A, As Amended
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4/17/2017 Annual Report CR023232017 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17A, AS AMENDED ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES 1. For the fiscal year ended Dec 31, 2016 2. SEC Identification Number A200101631 3. BIR Tax Identification No. 210407466000 4. Exact name of issuer as specified in its charter IREMIT, INC. 5. Province, country or other jurisdiction of incorporation or organization Metro Manila, PHILIPPINES 6. Industry Classification Code(SEC Use Only) 7. Address of principal office 26/F Discovery Centre, 25 ADB Avenue, Ortigas Center, Pasig City Postal Code 1605 8. Issuer's telephone number, including area code (02) 706 – 9999 Local 100 / 105 / 109 9. Former name or former address, and former fiscal year, if changed since last report Not applicable 10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock 612,043,122 11. Are any or all of registrant's securities listed on a Stock Exchange? Yes No If yes, state the name of such stock exchange and the classes of securities listed therein: The Philippine Stock Exchange, Inc. 12. Check whether the issuer: http://edge.pse.com.ph/openDiscViewer.do?edge_no=fe3b638e09aa09383318251c9257320d 1/4 4/17/2017 Annual Report (a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports) Yes No (b) has been subject to such filing requirements for the past ninety (90) days Yes No 13. State the aggregate market value of the voting stock held by nonaffiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by nonaffiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form PHP 1,064,955,032.28 (as of December 31, 2016, PHP 1.74 per share) APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS 14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission. Yes No DOCUMENTS INCORPORATED BY REFERENCE 15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17A into which the document is incorporated: (a) Any annual report to security holders Not applicable (b) Any information statement filed pursuant to SRC Rule 20 Not applicable (c) Any prospectus filed pursuant to SRC Rule 8.1 Not applicable The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party. http://edge.pse.com.ph/openDiscViewer.do?edge_no=fe3b638e09aa09383318251c9257320d 2/4 4/17/2017 Annual Report IRemit, Inc. I PSE Disclosure Form 171 Annual Report References: SRC Rule 17 and Sections 17.2 and 17.8 of the Revised Disclosure Rules For the fiscal year ended Dec 31, 2016 Currency (indicate units, if applicable) PHP Balance Sheet Year Ending Previous Year Ending Dec 31, 2016 Dec 31, 2015 Current Assets 2,636,233,059 2,349,949,328 Total Assets 2,903,366,914 2,577,978,778 Current Liabilities 1,579,815,616 1,298,626,384 Total Liabilities 1,586,936,219 1,302,821,237 Retained Earnings/(Deficit) 261,986,980 244,766,906 Stockholders' Equity 1,316,430,695 1,275,157,541 Stockholders' Equity Parent 1,316,430,695 1,275,157,541 Book Value per Share 2.15 2.08 Income Statement Year Ending Previous Year Ending Dec 31, 2016 Dec 31, 2015 Operating Revenue 748,487,090 685,685,520 Other Revenue 41,279,149 24,626,958 Gross Revenue 789,766,239 710,312,478 Operating Expense 737,916,850 674,266,542 Other Expense 0 9,926,117 Gross Expense 737,916,850 684,192,659 Net Income/(Loss) Before Tax 51,849,389 26,119,819 Income Tax Expense 14,669,929 13,377,252 Net Income/(Loss) After Tax 31,179,460 12,742,567 Net Income/(Loss) Attributable to Parent Equity Holder 31,179,460 12,742,567 Earnings/(Loss) Per Share (Basic) 0.06 0.02 Earnings/(Loss) Per Share (Diluted) 0 0 Financial Ratios Formula Fiscal Year Ended Previous Fiscal Year http://edge.pse.com.ph/openDiscViewer.do?edge_no=fe3b638e09aa09383318251c9257320d 3/4 4/17/2017 Annual Report Dec 31, 2016 Dec 31, 2015 Liquidity Analysis Ratios: Current Ratio or Current Assets / Current Working Capital Ratio Liabilities 1.67 1.81 (Current Assets Inventory Quick Ratio Prepayments) / Current 1.66 1.8 Liabilities Solvency Ratio Total Assets / Total Liabilities 1.83 1.98 Financial Leverage Ratios Debt Ratio Total Debt/Total Assets 0.55 0.51 Total Debt/Total Stockholders' DebttoEquity Ratio Equity 1.21 1.02 Earnings Before Interest and Interest Coverage Taxes (EBIT) / Interest Charges 2.24 1.78 Total Assets / Total Asset to Equity Ratio Stockholders' Equity 2.21 2.02 Profitability Ratios Sales Cost of Goods Sold or Gross Profit Margin Cost of Service / Sales 0.66 0.67 Net Profit Margin Net Profit / Sales 0.05 0.02 Return on Assets Net Income / Total Assets 0.01 0 Net Income / Total Return on Equity Stockholders' Equity 0.03 0.01 Price Per Share / Earnings Per Price/Earnings Ratio Common Share 28.65 88.94 Other Relevant Information Filed on behalf by: Name Harris Jacildo Designation President and Chief Operating Officer http://edge.pse.com.ph/openDiscViewer.do?edge_no=fe3b638e09aa09383318251c9257320d 4/4 IflE:wMlT April 12, 2017 THE PHILIPPINE STOCK EXCHANGE, INC. 3rd Floor, Philippine Stock Exchange Plaza Ayala Triangle, Ayala Avenue Makati City, Metro Manila Attention MR. JOSE VALERIANO B. ZUNO III OIC - Head, Disclosure Department Gentlemen: In accordance with the Securities Regulation Code, we are submitting herewith a copy of SEC Form 17-A (Annual Report) of I-Remit, Inc. as at December 31, 2016. Thank you. Very truly yours, ACILDO hief Operating Officer I-Remit, Inc. 26/F Discovery Centre 25 ADS Avenue Ortigas Center, Pasig City 1605 Philippines Telephone: (632) 706-9999 and (632) 706-2737 Facsimile: (632) 706-2767 Website: www.myiremit.com Facebook: www.facebook.com/iremitinc Twitter: www.twitter.comliremitinc COVER SHEET A 2 0 0 1 0 1 6 3 1 SEC Registration Number I - R E M I T , I N C . A N D S U B S I D I A R I E S (Company’s Full Name) 2 6 / F D i s c o v e r y C e n t r e , 2 5 A D B A v e n u e , O r t i g a s C e n t e r , P a s i g C i t y (Business Address: No. Street City/Town/Province) Mr. HARRIS D. JACILDO (02) 706 – 9999 Local 100/105/109 (Contact Person) (Company Telephone Number) 1 2 3 1 17-A 0 7 Month Day (Form Type) Month Day (Fiscal Year) (Annual Meeting) (Secondary License Type, If Applicable) Dept. Requiring this Doc. Amended Articles Number/Section Total Amount of Borrowings Total No. of Stockholders Domestic Foreign To be accomplished by SEC Personnel concerned File Number LCU Document ID Cashier S T A M P S Remarks: Please use BLACK ink for scanning purposes. SEC Number A200101631 PSE Code File Number I-REMIT, INC. AND SUBSIDIARIES (Company’s Full Name) 26/F Discovery Centre, 25 ADB Avenue, Ortigas Center, Pasig City, 1605 Metro Manila (Company’s Address) (02) 706 – 9999 Local 100 / 105 / 109 (Telephone Number) December 31 (Fiscal Year Ending) (Month and Day) SEC FORM 17-A Form Type Amendment Designation (if applicable) December 31, 2016 Period Ended Date (Secondary License Type and File Number) • •••C SECURITIES AND EXCHANGE COMMISSION ~ .~----.;---_-l@ SEC FORM 17-A ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES I. For the fiscal year ended December 31,2016 2. Commission Identification No. A200101631 3. BIR Tax Identification No. 210-407-466-000 4. Exact name of registrant as specified in its charter I-REMIT,INC. 5. ---=-M::.::e:..:;tr:,-:o:...:M:.:..:;::a::::n.::iI::::a,'-'P:....:H:.:.I:6.:..:Lo:.:l:.:.P-=-P-=-II:..(SEC.:N.::E Use:.:::S- O,:--nl,--y)_,----_ Province, Country or other jurisdiction of Industry Classification Code incorporation or organization 7.