The Philippine Securities and Exchange Commission Has Not Approved These Securities Or Determined If This Prospectus Is Accurate Or Complete
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THIS PROSPECTUS IS BEING DISPLAYED IN THE WEBSITE TO MAKE THE PROSPECTUS ACCESSIBLE TO MORE INVESTORS. THE PSE ASSUMES NO RESPONSIBILITY FOR THE CORRECTNESS OF ANY OF THE STATEMENTS MADE OR OPINIONS OR REPORTS EXPRESSED IN THE PROSPECTUS. FURTHERMORE, THE STOCK EXCHANGE MAKES NO REPRESENTATION AS TO THE COMPLETENESS OF THE PROSPECTUS AND DISCLAIMS ANY LIABILITY WHATSOEVER FOR ANY LOSS ARISING FROM OR IN RELIANCE IN WHOLE OR IN PART ON THE CONTENTS OF THE PROSPECTUS. ALTUS PROPERTY VENTURES, INC. (formerly Altus San Nicolas Corp.) (incorporated with limited liability in the Republic of the Philippines) BRGY. 1, SAN FRANCISCO SAN NICOLAS, ILOCOS NORTE 2901 PHILIPPINES TELEPHONE NUMBER: (632) 8633-7631 TO 40 Distribution of 100,000,000 Common Shares of the Capital Stock of Altus Property Ventures, Inc., as Property Dividend to the Stockholders of Robinsons Land Corporation and Listing By Way of Introduction of 100,000,000 Common Shares of the Capital Stock of Altus Property Ventures, Inc. on the Small, Medium and Emerging Board of the Philippine Stock Exchange with an Initial Listing Price of ₱10.10 per share THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE AND SHOULD BE REPORTED IMMEDIATELY TO THE PHILIPPINES SECURITIES AND EXCHANGE COMMISSION This Prospectus is dated as of 23 June 2020 This Prospectus is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. ALTUS PROPERTY VENTURES, INC. Brgy. 1, San Francisco San Nicolas, Ilocos Norte, 2901 Philippines Telephone Number: (632) 8633-7631 to 40 www.altuspropertyventures.com This Prospectus relates to the Common Shares of the capital stock (“Common Shares”) of Altus Property Ventures, Inc. (formerly Altus San Nicolas, Corp.) (the “Company” or “APVI” or the “Issuer”), a corporation organized under Philippine law and incorporated on March 28, 2007, in connection with (i) the distribution by Robinsons Land Corporation (“RLC”) of 100,000,000 Common Shares of the Company (the “Dividend Shares”) as property dividend (the “Dividend Distribution”) to all holders of Common Shares of record of RLC as of August 15, 2019 (the “RLC Common Shareholders”), and (ii) the registration with the Securities and Exchange Commission (“SEC”), and the listing by way of introduction, of 100,000,000 Common Shares on the Small, Medium and Emerging (“SME”) Board of the Philippine Stock Exchange (“PSE”), representing 100% of the issued and outstanding Common Shares of the Company (“Listing”). As of the date of this Prospectus, the Issuer has an authorized capital stock of ₱100,000,000, comprised of 100,000,000 Common Shares, with a par value of ₱1.00 per common share. Prior to the Dividend Distribution, RLC was the legal or beneficial owner of all of the Dividend Shares, or 100% of the Issuer’s outstanding capital stock. On July 31, 2019, the Board of Directors (the “Board” or the “BOD”) of RLC approved the declaration of the Dividend Shares as property dividend to the RLC Common Shareholders (the “Property Dividend”) which, following the approval of the SEC, will result in the distribution to RLC Common Shareholders of one (1) Common Share for approximately every Fifty-One and 9384/10000 (51.9384) RLC Common Shares owned and registered in the name of the RLC Common Shareholders as of August 15, 2019. A registration statement covering 100,000,000 Common Shares was filed by the Company on September 19, 2019. The Common Shares subject of the registration statement are covered by (i) the application for the approval of the Property Dividend, which was filed by RLC on September 19, 2019, which application was approved by the SEC on November 15, 2019, and (ii) the application for the SEC Registration and the Listing of the Common Shares filed by the Company with the SEC on September 19, 2019 and the PSE on 26 December 2019. The Dividend Distribution will increase the number of the Company’s stockholders from eight (8) stockholders to 1,503 stockholders, 1,035 of whom will hold at least 100 Common Shares. It will also allow the Company to apply for the Listing pursuant to Section 1(b) of the Amended Rules on Listing by Way of Introduction of the PSE. The Bureau of Internal Revenue (“BIR”) issued the Certificate Authorizing Registration (“CAR”) on December 6, 2019 in respect of the Dividend Distribution. The Company and its stockholders will not be offering Common Shares to the public for subscription or sale in connection with the Dividend Distribution or the Listing. Consequently, there will be no increase in the total number of outstanding Common Shares as a result of the Dividend Distribution and the Listing. The Company believes that the price of the Common Shares is of such amount, and the Common Shares would be so widely held, that their adequate marketability when listed can be assumed. There will be no underwriter for, and no proceeds from, the Dividend Distribution and Listing. Nonetheless, the indicative reference opening price (“Initial Listing Price”) of the Common Shares upon Listing shall be at ₱10.10 per share based on the Valuation and Fairness Opinion dated September 19, 2019 and issued by Navarro Amper & Co. (an affiliate of Deloitte Southeast Asia Ltd.), an independent advisor. The Valuation and Fairness Opinion is annexed to this Prospectus. All the Common Shares of the Company are unclassified and have identical rights and privileges. The Common Shares may be owned by any person or entity regardless of citizenship or nationality, subject to the nationality limits under Philippine law. Since the Company owns land, foreign ownership in the Company is limited to a maximum of 40% of the Company’s issued and outstanding capital stock entitled to vote. Please refer to the section entitled “Description of Business – Regulatory and Environmental Matters – Nationality Restrictions” on page 32 of this Prospectus. 2 The Company’s BOD is authorized to declare dividends. A cash or property dividend declaration does not require any further approval from the shareholders. A stock dividend declaration requires the further approval of shareholders holding or representing not less than 2/3 of the Company's outstanding capital stock. The Corporation Code defines the term “outstanding capital stock” to mean the “total shares of stock issued” to subscribers or stockholders, whether or not fully or partially paid (as long as there is a binding subscription agreement), “except treasury shares.” Such shareholders’ approval may be given at a general or special meeting duly called for such purpose. Dividends may be declared only from unrestricted retained earnings. The Company confirms that (a) this Prospectus contains all information with respect to the Company, which is material in the context of the Dividend Distribution and Listing; (b) the statements contained in it relating to the Company are in every material respect true and accurate and not misleading; (c) there are no other facts in relation to the Company or the Common Shares which would make any statement in this Prospectus misleading in any material respect; and (d) reasonable inquiries have been made by the Company to ascertain facts, information and statements in this Prospectus. The Company accepts full responsibility for the accuracy of the information contained in this Prospectus. The Company has exercised the required due diligence in verifying that all material information in this Prospectus or offering memorandum, their amendments and supplements are true and that no material information was omitted, which was necessary in order to make the statements contained in said documents not misleading. First Metro Investment Corporation confirms to the PSE that: (I) it has exercised due diligence to ascertain that all material information and representations contained in the Company’s Prospectus, including amendments or supplements thereto, are true and correct, in material respects and (ii) to the best of its knowledge, no material information was omitted, which was necessary in order to make the material statements contained in the Company’s Prospectus not misleading as of the date thereof. Market data and certain industry forecasts used throughout this Prospectus were obtained from internal surveys, market research, publicly available information and industry publications. Industry publications generally state that the information contained therein has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Similarly, internal surveys, industry forecasts and market research, while believed to be reliable, have not been independently verified, and the Company does not make any representation as to the accuracy of such information. References to “Altus Property Ventures, Inc.” and “the Company” are references to Altus Property Ventures, Inc. as the context requires. Before making an investment decision, investors should carefully consider the risks associated with an investment in the Common Shares. These risks include: . Risks relating to the Company’s Business . Risks relating to the Philippines . Risks related to the Common Shares Please refer to the section entitled “Risk Factors” beginning on page 8 of this Prospectus, which, while not intended to be an exhaustive enumeration of all risks, must be considered in connection with the investment in the Common Shares. Forward Looking Statements and Use of Estimates This Prospectus includes forward-looking statements and information that involve risks and uncertainties. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.