Announcement: Statement of the Roxas Group on the Restructuring of its Sugar-related Businesses

 

The corporate restructuring of the Roxas Group of Companies was made to consolidate all sugar and sugar-related businesses into one listed company. The sale of the net assets of CADP Group Corporation (CADPGC) and all its operating companies to Roxas Holdings, Inc. (RHI) was undertaken for this purpose.

 

Furthermore, the consolidation eliminates the extra holding company layer that exists at present, which will reduce redundancies and improve overall efficiency of the Group.

 

With the consolidation, CADPGC will, in turn, be merged with Roxas & Company, Inc. to become the entity for the group’s real estate interests. We believe that the new corporate structure will be viewed by the market and investors as cleaner and more transparent.

 

PEDRO E. ROXAS

Chairman and Chief Executive Officer

ROXAS HOLDINGS, INC.