1. What is Pure Energy Holdings Corporation (PEHC)?
The Company was incorporated on May 21, 2013 primarily to engage in the business of a holding company; to buy and hold shares of other companies whether common, preferred, treasury, founders, or other kinds of shares, either by subscribing to the unissued shares of the capital stock in the public or private offerings or by purchasing the shares of other stockholders by way of assignment in private sale; to invest in the stock or pledge, chattel mortgage or assignment; to sell, dispose, assign, pledge, or convey any or all of its shareholdings in other companies in favor of qualified persons by way of private sale, assignment or other forms of private conveyance, all in accordance with the Corporation Code, the Securities Act and other applicable laws and regulations. Its registered address and principal place of business is at 3rd floor JTKC Center, 2155 Don Chino Roces Ave., Makati City 1231.
2. What are the core businesses of Pure Energy?
The core businesses of Pure Energy include renewable energy and bulk water supply and distribution.
3. What are its subsidiaries?
Currently, the Company has three (3) subsidiaries, namely, Repower Energy Development Corporation, Pure Water Corporation, and Pure Geothermal, Inc.
4. What is renewable energy?
Renewable energy is generally defined as energy that is collected from resources which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.
5. Why Run of River hydropower is the best renewable energy investment over wind or solar projects?
The run of river hydropower is the best renewable energy option due to the following:
A. Consistency: Run of river hydropower is the most consistent and stable renewable energy resource compared to solar and wind energy, and operates closest to baseload coal power.
B. Lifespan: Run of river hydropower plants can last up to a century as evidenced by PHILPODECO’s 89 years of operations, whereas solar energy equipment lasts less than 25 years and wind energy equipment also last typically 25 years.
C. Low Operating Costs and Good Profitability: The Company’s ROR hydropower plants have a generation cost between P1.05/kWh to P1.26/kWh as compared to the solar farms of P3.91/kWh and wind farms of P2.82/kWh.
6. What is Pure Energy’s policy on Corporate Governance?
The Company’s Manual on Corporate Governance (the “Manual”) was approved by the Board of Directors on October 13, 2016. The Manual is a supplement to the Company’s Amended By-Laws.
The Manual also provides for the formation of the following committees: Nomination, Compensation and Remuneration, Audit, Risk Management, Corporate Governance, Related Party Transactions, and Executive.
To measure the level of compliance of the Board of Directors and top-level management with its Manual of Corporate Governance, the Manual mandates the establishment by the Company of an evaluation system consisting of a self-rating assessment and performance system by Management and submission of certifications by the Compliance Officer on the Company’s compliance with the provisions of the Manual.
Furthermore, to ensure the Company’s adherence to corporate principles and best practices, the Board is mandated to appoint a Compliance Officer who shall perform the following duties:
- Promote awareness of good corporate governance and accountability within the Company.
- Monitor compliance with the provisions and requirements of the Manual and the rules and regulations of regulatory agencies and, if any violations are found, report the matter to the Board and recommend imposition of appropriate disciplinary action on the responsible parties and the adoption of measures to prevent a repetition of the violation;
- Appear before the Securities and Exchange Commission upon summons on matters relative to corporate governance that need to be clarified;
- Determine violations of the Manual and recommend the appropriate penalty for violation thereof for further review and approval of the Board;
- After the end of each year, update the Annual Corporate Governance Report and submit updates to the Securities and Exchange Commission;
- Plan and organize seminars for the continuing progression of all directors and key officers of the Company, and
- Identify, monitor and control compliance risks.
7. What is the regulatory framework or tariff mechanism for Pure Energy’s businesses?
The main legal framework for Renewable Energy in the Philippines is captured in the Republic Act No. 9513, the Renewable Energy Act of 2008. The Feed in Tariff is regulated by the Energy Regulatory Commission of the Philippines.
For the water business, the use of water is governed by the Water Code (PD 1067) while water rates are regulated by the National Water Resource Board (NWRB).
8. Where are Pure Energy’s business locations?
Click here to see our locations.
9. What is Pure Energy’s Dividend Policy?
The Company is authorized to distribute dividends out of its surplus profit, in cash, properties of the Company, shares of stock, and/or securities of other companies belonging to the Company. Dividends paid in the form of cash or property is subject to approval of the Board of Directors. Dividends paid in the form of additional shares are subject to the approval of the Board of Directors and stockholders that own at least two-thirds (2/3) of the outstanding capital stock of the Company. Holders of outstanding Common Shares as of a dividend record date will be entitled to full dividends declared without regard to any subsequent transfer of such shares.
On June 30, 2016, the Board of Directors approved its dividend policy that whenever unrestricted retained earnings are available, dividends shall be declared for distribution to all shareholders, in such amounts corresponding to the free cash flow above a one (1) year’s operating capital level, subject to compliance with provisions of applicable laws and the prescribed conditions as well as restrictions thereunder.
10. Who can I contact about specific investor relations questions?
For investor relation matters, investors may contact Atty. Susan Carisma, the Company’s Investor Relations Officer, at (02) 813-8892 telefax number and through her email address email@example.com.