C04870-2016

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 15, 2016
2. SEC Identification Number
40621
3. BIR Tax Identification No.
000-284-138
4. Exact name of issuer as specified in its charter
APEX MINING CO., INC.
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
3304B WEST TOWER, PSE CENTRE, EXCHANGE ROAD, ORTIGAS CENTER, PASIG CITY Postal Code 1605
8. Issuer's telephone number, including area code
706-2805
9. Former name or former address, if changed since last report
U1704 PRESTIGE TOWER COND., F. ORTIGAS JR. ROAD, ORTIGAS CENTER, PASIG CITY
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 6,227,887,491
11. Indicate the item numbers reported herein
ITEM 9B

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.

Apex Mining Co., Inc.APX

PSE Disclosure Form QR-1 - Quasi-Reorganization References: Rules on Quasi-Reorganization
SRC Rule 17 (SEC Form 17-C)

Subject of the Disclosure

QUASI-REORGANIZATION OF THE COMPANY
Background/Description of the Disclosure

For the past several years, the Company has been consistently losing and thus accumulating deficit in its stockholders' equity account. Since October 2013, when the new management took over, the Company now turned around and started to reflect net earnings since 2015. To reflect this change in the Company's situation, management decided to do the quasi-reorganization to eliminate the impression of continuing losses from prior years' operations as well as to improve the Company's balance sheet.

On May 11, 2016, the Company's Board of Directors approved the Company's plan to eliminate from its Parent Company Balance Sheet as of March 31, 2016 the Deficit of P2,959,743,932 against the Additional Paid-In Capital of P3,027,029,976.

The above resolution was superseded in a resolution approved by the Board of Directors in its meeting held last August 9, 2016 to amend the cut off date of March 31, 2016 to December 31, 2015, in which the latter was approved by the stockholders in the last annual meeting of the Company held last June 30, 2016.

Termed as Quasi-Reorganization or Equity Restructuring, the application of the deficit against additional paid-in capital will be undertaken via the following steps: (a) presentation of the plan to the stockholders' on June 30, 2016 for approval; (b) submission of approved equity restructuring plan to the Securities and Exchange Commission (SEC) for filing and approval; (c) upon approval thereof by the SEC, implement the plan via an accounting entry in the Company's books of accounts by offsetting the deficit (a debit balance) against the additional paid-in capital (a credit balance). The end-result will make the deficit a zero balance and leave the additional paid-in capital with a balance of P15,941.675.

The foregoing quasi-reorganization or equity restructuring, being simply the application of additional paid-in capital against the deficit , will
not affect any of the other equity accounts in the Company's balance sheet, such as the Capital Stock and its pertinent composition such as par value and number of outstanding or issued shares.
Date of Approval by Board of Directors Aug 9, 2016
Date of Approval by Stockholders Jun 30, 2016
Date of Approval by Securities and Exchange Commission TBA
Rationale for quasi-reorganization

1) To improve balance sheet appearance to investors for possible dividends from positive retained earnings.
2) Eliminates the impression of continuing losses from prior years' operations.
Amount of deficit that will be eliminated 3,011,088,301

Adjustment(s) on the following

Authorized Capital Stock (ACS)
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 12,000,000,000 - - 12,000,000,000
Issued Shares
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 6,227,887,491 - - 6,227,887,491
Outstanding Shares
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 6,227,887,491 - - 6,227,887,491
Listed Shares
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 6,152,562,788 - - 6,152,562,788
Treasury Shares
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 0 - - 0
Par Value
Type of Security / Stock Symbol Before Capital Restructuring (current) Decrease in ACS Increase in ACS After Capital Restructuring
APX 1.00 - - 1.00

Movement in the total stockholders' equity account

ACS
Type of Security /Stock Symbol Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
- - - - - - - -
Issued and Outstanding Shares
Type of Security /Stock Symbol Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
- - - - - - - -
Treasury Shares
Type of Security /Stock Symbol Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
- - - - - - - -
Additional Paid-In Capital
Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
3,027,029,976 3,011,088,301 - 15,941,675 - - -
Deficit
Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
3,011,088,301 - - - - 3,011,088,301 0
Total Stockholders' Equity
Beginning Balance Entries to record the decrease in ACS Balance after decrease in ACS Entries to record the increase in ACS Balance after increase in ACS
Dr Cr Dr Cr
6,500,540,116 - - 6,500,540,116 - - -
Proposed timetable of the quasi-reorganization that includes the following
Expected date of filing the amendments to the Articles of Incorporation with the SEC TBA
Expected date of SEC approval of the Amended Articles of Incorporation TBA

Procedure(s) for updating stock certificates

Details of Stock Transfer Agent
Name NA
Address NA
Contact Person NA
Inclusive dates when the old stock certificates can be replaced
Start Date TBA
End Date TBA
Documentary requirements
Individual Shareholders

NONE
Corporate Shareholders

NONE
Date of availability of new stock certificates TBA
Procedures in case of lost stock certificates

NONE
Other Relevant Information

This report was amended due to the following reasons:

1) Board approval dated August 9, 2016 - to amend board resolution approved last May 11, 2016 to reflect the cut off date of December 31, 2015 which was approved by the stockholders last annual meeting held on June 30, 2016.

2) Balances of Deficit and Additional Paid-In Capital were subsequently revised to conform with the right balances as of cut off date of December 31, 2015.

3) Correction of figures under Adjustment(s) on Listed Shares.
Filed on behalf by:
Name Rosanna Parica
Designation Corporate Secretary