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)
Jun 23, 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 CityPostal Code1105
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 Matters
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 6-2 - Declaration of Stock Dividends References: SRC Rule 17 (SEC Form 17-C) and Sections 6 and 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Declaration of stock dividends by SBS Philippines Corporation
Background/Description of the Disclosure
In its meeting held on June 9, 2017, the shareholders representing at least 2/3 of the outstanding capital stock of the Corporation approved the declaration of stock dividends to be payable at the rate of One (1) common share for every twenty-five (25) common shares owned by shareholders as of record date (or approximately up to 48,000,000 Common Shares based on total outstanding shares as of June 23, 2017) with any resulting fractional shares to be dropped. The issuance of the stock dividends is an exempt transaction under Section 10.1(d) of the Securities Regulation Code, as amended and do not require any written confirmation of exemption from the SEC.
Type of Securities
Common
Preferredn/a
Othersn/a
Stock Dividend
Date of Approval by Board of Directors
Mar 28, 2017
Date of Approval by Stockholders
Jun 9, 2017
Other Relevant Regulatory Agency, if applicable
n/a
Date of Approval by Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Securities and Exchange Commission
N/A
Stock Dividend Rate
4% stock dividend or 1 share for every 25 common shares owned by shareholder
Source of Dividend Payment
The stock dividends will be payable from the unrestricted retained earnings of the Corporation.
Source of Shares for Distribution
To be taken from the unissued capital stock
Number of Shares to be Issued :
48,000,000
To be taken from an increase in authorized capital stock
From:
n/a
To:n/a
Number of Shares to be Issued :
0
Others:
-
Number of Shares to be Issued :
0
Record Date
Jun 29, 2017
Payment Date
Jul 17, 2017
Other Relevant Information
The stock dividend declared by the Board of Directors on March 28, 2017 was re-confirmed by the Board of Directors on April 21, 2017.
In its meeting held on June 9, 2017 after the holding of the Annual Shareholders' Meeting, the Board of Directors approved to fix the record date for the stock dividends declared for June 29, 2017 and the payment date thereof for July 17, 2017.
This amends the Company Announcement under Circular No. C03658-2017 to provide for the revised approximate number of shares to be covered by the 4% stock dividend, following the increase of the number of outstanding shares to 1,200,000,000 on account of the sale of 30,959,600 treasury shares by the Company on June 23, 2017, and the exempt transaction status of the issuance of the stock dividends.
Filed on behalf by:
Name
Sabrina Adamelle Poon-Sytengco
Designation
Corporate Information Officer and Investor Relation Officer