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 14, 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 SHARE	1,247,999,999

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 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Approval of additional share subscription to the made in the proposed increase in the authorized capital stock of the Company's subsidiaryk SBS Holdings and Enterprises Corporation (SHEC)
Background/Description of the Disclosure
Approval to subscribe to an additional 80,625,000 common shares of the proposed further increase in the authorized capital stock of SHEC from the current P5.5 billion to P5,822,500,000.00

Date of Approval by Board of Directors	Aug 14, 2017

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The additional share subscription by the Company is to provide for additional equity funding to SHEC .

Details of the acquisition or disposition

Date	TBA

Manner
The subscription shall be payable in cash
Description of the company to be acquired or sold
SHEC is a wholly owned subsidiary of the Company

The terms and conditions of the transaction

Number of shares to be acquired or disposed	80,625,000
Percentage to the total outstanding shares of the company subject of the transaction	5.12
Price per share	P1.00 par value

Nature and amount of consideration given or received
P80,625,000.00 in cash
Principle followed in determining the amount of consideration
Based on par value
Terms of payment
Payable upon SEC approval of the increase in the authorized capital stock of SHEC to P5,822,500,000.00
Conditions precedent to closing of the transaction, if any
Prior approval of the Securities and Exchange Commission of the increase in capital stock of SHEC
Any other salient terms
None

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
SBS Holdings and Enterprises Corporation	Subsidiary

Effect(s) on the business, financial condition and operations of the Issuer, if any
none
Other Relevant Information
none