SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Aug 1, 2016

2. SEC Identification Number

A200110402

3. BIR Tax Identification No.

213-054-503

4. Exact name of issuer as specified in its charter

SBS PHILIPPINES CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

NO. 10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105

8. Issuer's telephone number, including area code

(02) 371 1111

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	1,200,000,000

11. Indicate the item numbers reported herein

ITEM 9: OTHER EVENTS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

SBS Philippines CorporationSBS

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
APPROVAL OF DIVESTMENT OF 35% SHAREHOLDING INTERESTS IN NESCHESTER CORPORATION
Background/Description of the Disclosure
Board approval of the proposed sale of Company's shareholdings in Neschester Corporation, comprising of 192,499 common shares which represent approximately 35% of the issued share capital of Neschester Corporation
Other Relevant Information
Please be informed that the Board of Directors of SBS Philippines Corporation (the “Company”) in its special meeting held today, approved the proposed sale of its entire shareholding interests (“Sale Shares”) in Neschester Corporation, an associate company, for a total consideration of P60,619,850.00. The Sale Shares comprises of 192,499 common shares representing approximately 35% of the issued share capital of Neschester Corporation. The sale and purchase of the Sale Shares will close on 2 August 2016 and will be fully satisfied in cash. The Directors consider it an appropriate time to divest and sell its shareholdings in Neschester Corporation to unlock its best maximum value. The Company intends to use the net proceeds of the sale for general working capital and to pursue attractive investment opportunities.