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)

Apr 21, 2017

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

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	1,169,040,400

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 4-14 - Stock Rights Offering References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Board Approval of Conduct of a Stock Rights Offering
Background/Description of the Disclosure
The Board of Directors approved to recommend to the shareholders the conduct a stock rights offering of the unissued common shares of the Company (“Rights Issue”) to be offered first to all existing shareholders of the Company. The Rights Issue will be undertaken within a period of 12 months from approval of the shareholders and shall be conditional to having obtained the prior approval of the Securities and Exchange Commission and Philippine Stock Exchange for the Rights Issue, with the size and terms of the stock rights offer to be determined and finalized by the Board of Directors, including the entitlement ratio, offer price, record date and specific uses of the proceeds of the Rights Issue. Anesy Holdings Corporation, the Company’s major shareholder, has indicated its support for the Rights Issue and will subscribe to any remaining stock rights shares that will be unsubscribed after the mandatory second round of the stock rights offer.

Date of Approval by Board of Directors	Apr 21, 2017
Entitlement Ratio	TBA
Offer Price	TBA
Number of Shares to be Offered	350,000,000
Ex-Rights Date	TBA
Record Date	TBA
Start of Offer Period	TBA
End of Offer Period	TBA

Use of Proceeds
The Rights Issue is intended to provide additional core capital to support the growth and strategic initiatives of the Company which will include, among others, its business diversification plans to engage in property related investments and businesses. Management is currently evaluating the allocation and specific uses of the proceeds of RIghts Issue which will be determined and finalized by the Board of Directors after the approval of the shareholders.
Other Relevant Information
NOTE: Please be informed that figure indicated in the "Number of Shares to be Offered" pertains to the maximum number of shares that may be considered under the current level of authorized capital stock of the Company and which may be increased following approval of the increase in the authorized capital stock of the Company. by the shareholders.