prospectus

IMPORTANT NOTICE

You must read the following disclaimer before continuing. The following disclaimer applies to the document following this notice and you are therefore advised to read this disclaimer carefully before accessing, reading or making any other use of the attached document. In accessing the attached document, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access.

You are not authorized to and you may not forward or deliver the attached document, electronically or otherwise, to any other person or reproduce such document in any manner whatsoever, nor may you disclose the information contained in the attached document to any third-party or use it for any other purpose. Any forwarding, distribution, publication or reproduction of the attached document in whole or in part or disclosure of any information contained therein or any use of such information for any other purpose is unauthorized. Failure to comply with this directive may result in a violation of the securities laws of applicable jurisdictions.

Nothing in this electronic transmission constitutes an offer, an invitation to purchase, or a solicitation of an offer to purchase any securities in the United States or in any other jurisdiction in which such offer or invitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation. The securities referred to in the attached document have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly, within the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The attached document is exclusively intended for persons who are not U.S. Persons, as such term is defined in Regulation S of the Securities Act, and who are not physically present 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 or other parties named in the draft preliminary prospectus accept any liability or responsibility for any misstatements or omissions in 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 or advisers. 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 notice and the attached document have been made available to you in electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of transmission and consequently neither we nor any of our affiliates accepts any liability or responsibility whatsoever in respect of any difference between documents distributed to you in electronic format and the hard copy version.

You are responsible for protecting against viruses and other destructive items. Your receipt of this electronic transmission is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature.

CONFIRMATION OF YOUR REPRESENTATION: IN ORDER TO BE ELIGIBLE TO VIEW THE ATTACHED DOCUMENT, INVESTORS MUST COMPLY WITH THE FOLLOWING PROVISIONS. YOU HAVE BEEN SENT THE ATTACHED DOCUMENT ON THE BASIS THAT YOU HAVE CONFIRMED THAT YOU AND THE PERSON, IF ANY, FOR WHOSE ACCOUNT YOU ARE ACTING, ARE LOCATED IN THE PHILIPPINES AND CONSENT TO DELIVERY BY ELECTRONIC TRANSMISSION.

I hereby certify that:

• I am a resident of 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.

• I am not a U.S. Person as defined in Regulation S of the Securities Act, or acting for the account of such U.S. Person.

• I am not located in the United States.

• I will not transmit or otherwise send any information contained in the attached document to any person in the United States or to publications with a general circulation in the United States.

• And I intend to acquire any of the Offer Shares offered in the Philippines.
THIS PROSPECTUS IS TO BE USED EXCLUSIVELY FOR THE DOMESTIC OFFER AND IS NOT INTENDED TO BE VIEWED BY NON-PHILIPPINE RESIDENTS.