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Sec Form 20-Is Information Statement Pursuant to Section 20 of the Securities Regulation Code

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Sec Form 20-Is Information Statement Pursuant to Section 20 of the Securities Regulation Code ANNUAL REPORT 2010 FINANCIAL SUMMARY (In Million Pesos) 2007 2008 2009 % change Re-presented* Re-presented* (‘09 vs ‘08) For the Year Revenues 31,205 35,862 46,230 29% Operating Profit Operating profit from ordinary activities 2,902 2,340 7,527 222% Equity in net earnings of associates 3,987 3,625 4,322 19% Other income (charges) 1,178 309 (688) -323% Income before income tax 8,068 6,275 11,160 78% Provision for income tax (1,212) (978) (1,206) 23% Income before minority interest 6,856 5,297 9,955 88% Minority interest (1,035) (1,176) (1,648) Net income attributable to Equity Holders of the parent 5,821 4,121 8,307 102% At Year End Total Assets 65,908 75,715 143,281 89% Total Liabilities 18,812 29,059 88,639 205% Minority Interest 8,811 8,861 9,945 12% Equity Attributable to Equity Holders of the Parent 38,285 37,795 44,697 18% EBITDA 9,387 8,607 15,639 82% Per Share (in pesos) Earnings 1.02 0.73 1.49 104% Book Value 6.72 6.78 8.09 19% Cash Dividend (Common) 0.20 0.61 0.27 -56% Financial Ratios Current Ratio 2.42 1.90 0.79 Debt-to-Equity Ratio 0.40 0.62 1.62 Net Debt-to-Equity Ratio (0.14) 0.08 1.28 * Dec 2007 and 2008 Profit & Loss figures now consider the revenues & expenses of the ATS disposal group due to the aborted ATS sale in 2009. Income Contribution Breakdown Equity Investment Breakdown PER BUSINESS SEGMENT (In Million Pesos) PER BUSINESS SEGMENT (In Million Pesos) 4,440 09 387 09 08 81 08 3,473 07 318 07 3,961 TRANSPORT TRANSPORT 2,371 09 1,227 09 08 458 08 2,444 FOOD FOOD 07 530 07 2,185 13,468 09 1,808 09 08 880 08 11,112 07 1,242 07 10,881 BANKING BANKING 26,421 09 4,324 09 08 3,321 08 23,007 POWER POWER 07 3,352 07 19,845 SEC FORM 20 - IS (INFORMATION STATEMENT) Financial Summary ANNUAL REPORT 2010 1 NOTICE AND AGENDA OF ANNUAL MEETING OF STOCKHOLDERS ABOITIZ EQUITY VENTURES, INC. Aboitiz Corporate Center Gov. Manuel A. Cuenco Avenue Kasambagan, Cebu City 6000, Philippines NOTICE is hereby given that the Annual Meeting of the Stockholders of ABOITIZ EQUITY VENTURES, INC. will be held on May 17, 2010 at 4:00 p.m. at the Grand Ballroom of the Cebu City Marriott Hotel, Cebu Business Park, Cebu City. The Agenda of the meeting is as follows: 1. Call to Order 2. Proof of Notice of Meeting 3. Determination of Quorum 4. Reading and Approval of the Minutes of the Previous Stockholders’ Meeting held last May 18, 2009 5. Presentation of the President’s Report 6. Approval of the 2009 Annual Report and Financial Statements 7. Delegation of the Authority to Elect the Company’s External Auditors for 2010 to the Board of Directors 8. Ratification of the Acts, Resolutions and Proceedings of the Board of Directors, Corporate Officers and Management in 2009 up to May 17, 2010 9. Approval of the Directors’ Compensation and Per Diem for 2010 10. Election of the Members of the Board of Directors 11. Other Business 12. Adjournment Only stockholders of record at the close of business on April 8, 2010 are entitled to notice and to vote at this meeting. Registration will start at 2:00 p.m. and will end at 4:00 p.m. Kindly present any proof of identification, such as driver’s license, passport, company I.D. or SSS/GSIS I.D. Aside from personal identification, representatives of corporate stockholders and other entities should also present a duly sworn Secretary’s Certificate or a similar document showing his or her authority to represent the corporation or entity. Should you be unable to attend the meeting, you may want to execute a proxy in favor of a representative. In accordance with the amended By-Laws of the Corporation, proxies must be presented to the Secretary for inspection, validation and record at least seven (7) days prior to the opening of the Stockholders’ Meeting. We enclose a proxy form for your convenience. For those unable to attend the Stockholders’ Meeting in Cebu, a Stockholders’ Briefing will be conducted in Manila on May 19, 2010, 4:00 p.m., at the Mandarin Ballroom, Mandarin Oriental Hotel, Makati City. For the Board of Directors. M. JASMINE S. OPORTO Corporate Secretary SEC FORM 20 - IS (INFORMATION STATEMENT) 2 ABOITIZ EQUITY VENTURES, INC. SECURITIES AND EXCHANGE COMMISSION SEC FORM 20-IS INFORMATION STATEMENT PURSUANT TO SECTION 20 OF THE SECURITIES REGULATION CODE 1. Check the appropriate box: [ ] Preliminary Information Statement [] Definitive Information Statement 2. Name of Registrant as specified in its charter ABOITIZ EQUITY VENTURES, INC. 3. Province, country or other jurisdiction of incorporation or organization CEBU, PHILIPPINES 4. SEC Identification Number CEO2536 5. BIR Tax Identification Code 003-828-269-V 6. Address of principal office Aboitiz Corporate Center Gov. Manuel A. Cuenco Avenue Kasambagan, Cebu City 6000 Philippines 7. Registrant’s telephone number, including area code (032) 411-1800 8. Date, time and place of the meeting of security holders Date : May 17, 2010 Time : 4 o’clock p.m. Place : Grand Ballroom, Cebu City Marriott Hotel Cebu Business Park, Cebu City, Cebu 9. Approximate date when the Information Statement is first to be sent or given to security holders APRIL 22, 2010 10. In case of Proxy Solicitations: NA 11. Securities registered pursuant to Sections 8 and 12 of the Code or Sections 4 and 8 of the Revised Securities Act (information on number of shares and amount of debt is applicable only to corporate registrants): Authorized Capital Stock: π10,000,000,000 Title of Each Class Par Value No. of Shares Authorized Capital Stock Common π1.00 9,600,000,000 π9,600,000,000 Preferred π1.00 400,000,000 π400,000,000 Total π10,000,000,000 No. of Common Shares Outstanding as of February 28, 2010 5,521,871,821 Amount of Debt Outstanding as of December 31, 2009 π88,617,426,834 SEC FORM 20 - IS (INFORMATION STATEMENT) ANNUAL REPORT 2010 3 12. Are any or all of registrant’s securities listed on a Stock Exchange? Yes X No __ The common stock of the Corporation is listed on the Philippine Stock Exchange. INFORMATION REQUIRED IN INFORMATION STATEMENT A. GENERAL INFORMATION Item 1. Date, time and place of Annual Stockholders’ Meeting Date of meeting : May 17, 2010 Time of meeting : 4 o’clock p.m. Place of meeting : Grand Ballroom, Cebu City Marriott Hotel Cebu Business Park, Cebu City Approximate mailing date of this statement : April 22, 2010 Complete mailing address of the principal office of the registrant : Aboitiz Corporate Center Gov. Manuel A. Cuenco Avenue, Kasambagan Cebu City 6000 Philippines Item 2. Dissenter’s Right of Appraisal There are no matters or proposed actions included in the Agenda of the Meeting that may give rise to a possible exercise by stockholders of their appraisal rights. Generally, however, the stockholders of Aboitiz Equity Ventures, Inc. (hereinafter referred to as “AEV” or the “Company” or the “Registrant”) have the right of appraisal in the following instances: (a) in case any amendment to the articles of incorporation has the effect of changing or restricting the rights of any stockholder or class of shares, or of authorizing preferences in any respect superior to those of outstanding shares of any class, or of extending or shortening the term of corporate existence; (b) in case of sale, lease, exchange, transfer, mortgage, pledge or other disposition of all or substantially all of the corporate property and assets as provided in the Corporation Code; and (c) in case of merger or consolidation. Any stockholder who wishes to exercise his appraisal right must have voted against the proposed corporate action. He must also make a written demand on AEV within 30 days after the date on which the vote was taken, for payment of the fair value of his shares. Failure to make the demand within such period shall be deemed a waiver of such appraisal right. If the proposed corporate action is implemented or effected, AEV shall pay to such stockholder, upon surrender of the certificate or certificates of stock representing his shares, the fair value thereof, as of the day prior to the date on which the vote was taken, excluding any appreciation or depreciation in anticipation of such corporate action. If within a period of 60 days from the date the corporate action was approved by the stockholders, the withdrawing stockholder and AEV cannot agree on the fair value of the shares, it shall be determined and appraised by three disinterested persons, one of whom shall be named by the stockholder, another by AEV, and the third by the two thus chosen. The findings of the majority of the appraisers shall be final, and their award shall be paid by AEV within 30 days after such award is made. No payment shall be made to any dissenting stockholder unless AEV has unrestricted retained earnings in its books to cover such payment. Upon payment by AEV of the agreed or awarded price, the stockholder shall forthwith transfer his shares to AEV. SEC FORM 20 - IS (INFORMATION STATEMENT) 4 ABOITIZ EQUITY VENTURES, INC. Item 3. Interest of Certain Persons in or Opposition to Matters to be Acted Upon (a) No current director or officer of AEV, or nominee for election as director of AEV or any associate of any of the foregoing persons has any substantial interest, direct or indirect, by security holdings or otherwise, in any matter to be acted upon in the stockholders’ meeting, other than election to office and the approval of directors’ compensation and per diem.
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