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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

A REGISTRATION STATEMENT RELATING TO THE SECURITIES OF THE ISSUER DESCRIBED ON THE FOLLOWING WEB SITE (THE “OFFER SHARES”) HAS BEEN FILED WITH THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION, BUT HAS NOT YET BEEN DECLARED EFFECTIVE. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE ACCEPTED OR RECEIVED UNTIL THE REGISTRATION STATEMENT HAS BECOME EFFECTIVE, AND ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME PRIOR TO NOTICE OF ITS ACCEPTANCE GIVEN AFTER THE EFFECTIVE DATE. AN INDICATION OF INTEREST IN RESPONSE HERETO INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. THIS PROSPECTUS SHALL NOT CONSTITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION OF AN OFER TO BUY.

The offering information on this Web site is intended to be available only to Philippine and non-Philippine citizens residing in the Philippines or corporations or judicial entities organized and existing under Philippine law, and is not intended for distribution in the United States or to U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)). The information contained in this Web site may not be published or distributed, directly or indirectly, in the United States and this information (including the draft preliminary prospectus, the preliminary prospectus and the final prospectus) does not constitute an offer of the Offer Shares for sale in the United States or to, or for the account or benefit of, U.S. persons. The Offer Shares described in the draft preliminary prospectus, the preliminary prospectus and the final prospectus have not been, and will not be, registered under U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States and may not be offered or sold, directly or indirectly, into the United States or to, or for the account or benefit of, U.S. persons unless the Offer Shares are so registered or an exemption from the U.S. registration requirements is available. There will be no public offer of the Offer Shares in the United States.

The draft preliminary prospectus on this Web site is only a draft and should not be relied upon for any investment purposes. None of the issuer or the underwriters named in the draft preliminary prospectus accepts any liability or responsibility for any misstatements in or omissions from the draft prospectus nor have any of them authorized anyone to give any information or to make any representation in connection with the Offer Shares and, if given or made, such information or representation must not be relied upon as having been authorized by the issuer or the underwriters or any of their respective affiliates. Neither the delivery of this draft preliminary prospectus nor any offer made on the basis hereof shall, under any circumstances, create any implication that the information herein is correct or complete. Neither the issuer nor the underwriters make any representation or warranty, express or implied, as to the accuracy or completeness of such information, and you should not rely on anything contained in this draft preliminary prospectus as a promise or representation by the issuer or the underwriters.


THIS DRAFT PRELIMINARY PROSPECTUS IS TO BE USED EXCLUSIVELY FOR THE OFFER AND IS NOT INTENDED TO BE VIEWED BY NON-PHILIPPINE RESIDENTS.

Are you a Philippine or non-Philippine citizen residing in the Philippines or a corporation, association, partnership or other juridical entity, or fund organized and existing under Philippine law and/or licensed to do business in the Philippines?

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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A REGISTRATION STATEMENT RELATING TO THE SECURITIES OF THE ISSUER DESCRIBED ON THE FOLLOWING WEB SITE (THE “OFFER SHARES”) HAS BEEN FILED WITH THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION, BUT HAS NOT YET BEEN DECLARED EFFECTIVE. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE ACCEPTED OR RECEIVED UNTIL THE REGISTRATION STATEMENT HAS BECOME EFFECTIVE, AND ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME PRIOR TO NOTICE OF ITS ACCEPTANCE GIVEN AFTER THE EFFECTIVE DATE. AN INDICATION OF INTEREST IN RESPONSE HERETO INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. THIS PROSPECTUS SHALL NOT CONSITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION OF AN OFFER TO BUY.

The offering information on this Web site is intended to be available only to Philippine and non-Philippine citizens residing in the Philippines or corporations or judicial entities organized and existing under Philippine law, and is not intended for distribution in the United States or to U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)). The information contained in this Web site may not be published or distributed, directly or indirectly, into the United States and this information (including the draft preliminary prospectus, the preliminary prospectus and final prospectus) does not constitute an offer of the Offer Shares for sale in the United States or to, or for the account or benefit of, U.S. persons. The Offer Shares described in the draft preliminary prospectus, the preliminary prospectus and the final prospectus have not been, and will not be, registered under U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States and may not be offered or sold, directly or indirectly, into the United States or to, or for the account or benefit of, U.S. persons unless the Offer Shares are so registered or an exemption from the U.S. registration requirements is available. There will be no public offer of the Offer Shares in the United States.

THIS DRAFT PRELIMINARY PROSPECTUS IS TO BE USED EXCLUSIVELY FOR THE DOMESTIC OFFER AND IS NOT INTENDED TO BE VIEWED BY NON-PHILIPPINE RESIDENTS.

The draft preliminary prospectus on this Web site is only a draft and should not be relied upon for any investment purposes. None of the issuer or the underwriters named in the draft preliminary prospectus accepts any liability or responsibility for any misstatements in or omissions from the draft prospectus nor have any of them authorized anyone to give any information or to make any representation in connection with the Offer Shares and, if given or made, such information or representation must not be relied upon as having been authorized by the issuer or the underwriters or any of their respective affiliates. Neither the delivery of this draft preliminary prospectus nor any offer made on the basis hereof shall, under any circumstances, create any implication that the information herein is correct or complete. Neither the issuer nor the underwriters make any representation or warranty, express or implied, as to the accuracy or completeness of such information, and you should not rely on anything contained in this draft preliminary prospectus as a promise or representation by the issuer or the underwriters.

Since you are a Philippine or non-Philippine citizen residing in the Philippines or a corporation, association, partnership or other juridical entity, or fund organized and existing under Philippine law and/or licensed to do business in the Philippines, and you intend to acquire Offer Shares offered in the Philippines, we request that you certify to the following facts in order to access a copy of the draft preliminary prospectus, the preliminary prospectus and final prospectus:

“I hereby certify that I am a Philippine or non-Philippine citizen residing in the Philippines or a corporation, association, partnership or other juridical entity, or fund organized and existing under Philippine law and/or licensed to do business in the Philippines, and that any and all Offer Shares that I may acquire will be those offered in the Philippines.”

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.

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A REGISTRATION STATEMENT RELATING TO THE SECURITIES OF THE ISSUER DESCRIBED ON THE FOLLOWING WEB SITE (THE “OFFER SHARES”) HAS BEEN FILED WITH THE PHILIPPINES SECURITIES AND EXCHANGE COMMISSION, BUT HAS NOT YET BEEN DECLARED EFFECTIVE. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE ACCEPTED OR RECEIVED UNTIL THE REGISTRATION STATEMENT HAS BECOME EFFECTIVE, AND ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME PRIOR TO NOTICE OF ITS ACCEPTANCE GIVEN AFTER THE EFFECTIVE DATE. AN INDICATION OF INTEREST IN RESPONSE HERETO INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. THIS PROSPECTUS SHALL NOT CONSITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY.

The offering information on this Web site is intended to be available only to Philippine and non-Philippine citizens residing in the Philippines or corporations or judicial entities organized and existing under Philippine law, and is not intended for distribution in the United States or to U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)). The information contained in this Web site may not be published or distributed, directly or indirectly, in the United States and this information (including the draft preliminary prospectus, the preliminary prospectus and final prospectus) does not constitute an offer of the Offer Shares for sale in the United States or to, or for the account or benefit of, U.S. persons. The Offer Shares described in the draft preliminary prospectus, the preliminary prospectus and final prospectus have not been, and will not be, registered under U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States and may not be offered or sold, directly or indirectly, into the United States or to, or for the account or benefit of, U.S. persons unless the Offer Shares are so registered or an exemption from the U.S. registration requirements is available. There will be no public offer of the Offer Shares in the United States.


THIS DRAFT PRELIMINARY PROSPECTUS IS TO BE USED EXCLUSIVELY FOR THE DOMESTIC OFFER AND IS NOT INTENDED TO BE VIEWED BY NON-PHILIPPINE RESIDENTS.

The draft preliminary prospectus on this Web site is only a draft and should not be relied upon for any investment purposes. None of the issuer or the underwriters named in the draft preliminary prospectus accepts any liability or responsibility for any misstatements in or omissions from the draft prospectus nor have any of them authorized anyone to give any information or to make any representation in connection with the Offer Shares and, if given or made, such information or representation must not be relied upon as having been authorized by the issuer or the underwriters or any of their respective affiliates. Neither the delivery of this draft preliminary prospectus nor any offer made on the basis hereof shall, under any circumstances, create any implication that the information herein is correct or complete. Neither the issuer nor the underwriters make any representation or warranty, express or implied, as to the accuracy or completeness of such information, and you should not rely on anything contained in this draft preliminary prospectus as a promise or representation by the issuer or the underwriters.

Download Preliminary Prospectus Download Financial Statement

Further access to the pages is denied

The information on this Web site is intended to be used exclusively for the Philippine domestic offering only and is not intended to be viewed by non-Philippine residents.