Puregold Price Club : Clarification of News Reports
May 19, 2022 at 11:15 pm EDT
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SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C
CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported) May 20, 20222. SEC Identification Number A1998137543. BIR Tax Identification No. 201-277-0954. Exact name of issuer as specified in its charter Puregold Price Club, Inc.5. Province, country or other jurisdiction of incorporation Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office No. 900 Romualdez St., Paco, ManilaPostal Code10078. Issuer's telephone number, including area code 091786124599. Former name or former address, if changed since last report None10. 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 shares
2,881,137,615
11. Indicate the item numbers reported herein Other Matters
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.
Puregold Price Club, Inc.PGOLD
PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Clarification of BusinessWorld's News Article dated May 20, 2022
Source
BusinessWorld (Online Edition)
Subject of News Report
"Puregold targets 25 new stores nationwide in 2022"
Date of Publication
May 20, 2022
Clarification of News Report
Puregold targets 25 new stores nationwide in 2022
By Revin Mikhael D. Ochave, Reporter
PUREGOLD Price Club, Inc. is aiming to establish 25 stores across the country in 2022 as part of its expansion plans nationwide.
Puregold Vice-President for Operations Antonio E. De Los Santos said in a press conference for its Tindahan ni Aling Puring Negosyo Convention on Thursday that majority of the company's store expansion target this year will be Price Club stores.
Currently, Puregold has 437 stores across the country, he said.
"We are eyeing 25 stores for this year. Of the 25, about seven stores are already open. We are allotting about P500-million worth of capital expenditure per store," he added.
According to Mr. De Los Santos, the company was able to open 30 stores in 2020 and another 30 stores in 2021.
He said that the openings for 2020 and 2021 were augmented by Puregold Mini Marts, which have fewer checkout counters and are smaller compared to the main stores.
"Our target this year is 25. It just so happened that in 2020 and 2021, we opened mini marts also. These added to our overall target in 2020 and 2021," Mr. De Los Santos said.
According to Mr. De Los Santos, the company is eyeing areas that do not have the company's footprint such as areas in the National Capital Region (NCR), Visayas, and Mindanao.
"We will continue to expand and we will continue to protect our organic stores. There are still a lot of areas in the country that are underserved. Puregold is not yet there, which means that there are many opportunities," Mr. De Los Santos said.
"When the opportunity presents itself and it meets our criteria and validation and we can establish Puregold there, we will go to that area," he added.
Meanwhile, Puregold also introduced its Aling Puring mobile application, which is a platform that allows every Aling Puring member store to become a one-stop shop.
The Aling Puring app allows members to have e-commerce opportunities such as mobile load, bills payment, and cash-in for mobile wallets. The app is connected to the Puregold mobile application for easy ordering and replenishment of stocks and exclusive deals.
"Puregold is equipping Tindahan ni Aling Puring members with an app that will allow them take advantage of e-negosyo opportunities. Sari-sari store owners can now become the community's hub for basic essentials, and paying bills or telco load," Puregold President Ferdinand Vincent P. Co said.
Tindahan ni Aling Puring is Puregold's membership program that allows sari-sari stores (neighborhood stalls) and other business owners to enjoy free deliver, business financing assistance, and free insurance. The program currently has about 660,000 members."
Company Reply:
We would like to correct the news articles about our capex for new stores. It should be P50 Million per store and not P500 Million per store as reported. This is P1.2 Billion for the year and not P12.5 Billion as reported in various newspapers today.
Other Relevant Information
Please see attached SEC 17-C of Puregold Price Club, Inc.. re: Clarification of news article entitled ""Puregold targets 25 new stores nationwide in 2022"
Puregold Price Club Inc. published this content on 20 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2022 03:14:03 UTC.
Puregold Price Club, Inc. is engaged in the business of trading goods, such as consumer products (canned goods, housewares, toiletries, dry goods, food products, pharmaceutical and medical goods and others) on a wholesale and retail basis. The Company operates in the retailing business segment. Its stores are divided into four store models: Hypermarket, Supermarket, Extras and Minimart. It has over 525 retail stores, consisting of 452 Puregold Stores, 22 S&R Membership Shopping Warehouses and 51 S&R New York Style Pizza (QSRs). Hypermarkets offer food and non-food products to retail customers and small business owners (stores include mini-marts, cafeterias, restaurants, bakeries, pharmacies). The Supermarket is primarily located in residential areas and offers a higher proportion of food to non-food products. It maintains two online platforms called, Sally and Rappit and is affiliated with other online delivery platforms, such as Pick-a-roo, Metromart, Lazada, and Shopee.
PUREGOLD PRICE CLUB, INC. 
