Pancake House, Inc.: Additional Listing

January 16, 2013 PSE MEMORANDUM NO. LA-0014-13 TO : The Investing Public SUBJECT : Pancake House, Inc. Additional Listing The Exchange approved on June 14, 2007, subject to the actual exercise of the conversion rights by the Noteholders, the application of PANCAKE HOUSE, INC. (the "Company") to list additional 49,159,091 common shares , with a par value of P1.00 per share , to cover the underlying common shares for the Convertible Notes of the Company at a conversion price of P4.48503 per share, with the following breakdown: a. 36,869,323 common shares to be issued to Aureos South East Asia Fund, LLC; and b. 12,289,768 common shares to be issued to Planters Bank Venture Capital for SMEs In this connection, please be advised that in a sworn Corporate Secretary's Certificate dated January 15, 2013, the Company certified that the remaining 5-year Convertible Notes issued on October 28, 2005 were mandatorily converted into 45,159,091 common shares divided into the following: TADaCH Noteholders Value of Notes Conversion Underlying Converted Price Common (in P) (in P) Shares Aureos Southeast Asia Fund 151,904,910 4.48503 33,869,319 Grand Prime International Limited (assignee of Plantersbank VCC) 50,634,970 4.48503 11,289,772 Total P202,539,880 45,159,091 =========== ========= In view thereof, the listing of the 45,159,091 common shares is set for Thursday, January 17, 2013 . This brings the number of shares listed arising from the conversion of the Convertible Notes to a total of 49,159,091 common shares. The listing of the 45,159,091 common shares completes the exercise of the conversion rights by the Noteholders of the Company. For your information and guidance. (SGD.) J.V. B. ZUO III OIC, Listings Department <http://www.pse.com.ph/resource/memos/2013/LA__2013-0014.pdf> last visited May 23, 2013.