In the Matter of Petition for Voluntary Revocation, Alaska Milk Corp.

April 3, 2013 SEC-CFD * ORDER NO. 059-13 IN THE MATTER OF PETITION FOR VOLUNTARY REVOCATION ALASKA MILK CORP. The records on file with this Commission show that: 1. Alaska Milk Corporation (the "company" for brevity) is a corporation duly organized and existing under and by virtue of the laws of the Philippines with principal office address at 6th Floor Corinthian Plaza Building, 121 Paseo de Roxas, Makati City; 2. On November 28, 1994, the Order of Registration of its securities consisting of 1,000,000 common shares with par value of One Peso (P1.00) and Permit to Sell Securities authorizing the sale to the public of 640,963,252 common shares was issued; 3. On October 24, 2012 the Board of Directors of the Philippine Stock Exchange (PSE) approved its Petition for the delisting of its shares of stock, which took effect on November 5, 2012; 4. Subsequently, on November 13 and December 20, 2012, the company's Board of Directors and shareholders representing two-thirds (2/3) of its outstanding capital stock, respectively, approved the increase in the par value of its shares from One Peso (P1.00) to Five Hundred Thousand Pesos (P500,000.00) and correspondingly decreased the number of shares comprising its authorized capital stock from One Billion (1,000,000,000) to Two Thousand (2,000) common shares (reverse stock split); 5. As a result of the amendment and pursuant to the procedure adopted for the treatment of fractional shares, the company now has only ten (10) shareholders. Out of the ten (10) shareholders, only one (1) shareholder holds at least one hundred (100) shares; ECcTaH 6. In view of the company's compliance with the requirements of SRC Rule 13 (4) on Voluntary Revocation and considering that no party stands to suffer damage from the same, CFD recommended that the Petition for Voluntary Revocation of its Registration and Permit to Sell Securities to the Public dated November 28, 1994 be GRANTED. Pursuant to the resolution of the Commission in its meeting on March 21, 2013, the company's Registration of Securities and Permit to Sell Securities is hereby REVOKED. Furthermore, since the company is no longer imbued with public interest, there being only two (2) beneficial owners of its shares, the submission of reports under the SRC may be dispensed with. Let a copy of this Order be sent to the Philippine Stock Exchange and posted in the Commission's official website for the information and guidance of the public. SO ORDERED. (SGD.) JUSTINA F. CALLANGAN Acting Director