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)

Dec 20, 2016

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F , Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(02)908-3000

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	620,224,590
Preferred B Series 1 Shares	20,000,000
Preferred B Series 2 Shares	27,000,000
Voting Preferred Shares	200,000,000

11. Indicate the item numbers reported herein

Item 9

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.

Ayala CorporationAC

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
AC Energy sells a 15% stake in South Luzon Thermal Energy Corporation
Background/Description of the Disclosure
Please be informed that AC Energy Holdings, Inc. (AC Energy), a wholly-owned subsidiary of Ayala Corporation, signed definitive documents to sell a 15% stake in South Luzon Thermal Energy Corporation (SLTEC) to Axia Power Holdings Philippines Corporation (Axia Power), a subsidiary of Marubeni Corporation. PHINMA Energy Corporation (PHINMA Energy), AC Energy’s joint venture partner in SLTEC, also sold a 5% stake to Axia Power. With the sale of shares to Axia Power, AC Energy’s ownership in SLTEC is at 35%, while that of PHINMA Energy and Axia Power are at 45% and 20%, respectively. SLTEC owns and operates a 2 X 135-MW thermal power plant in Calaca, Batangas.
Other Relevant Information
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