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)

Sep 8, 2017

2. SEC Identification Number

38683

3. BIR Tax Identification No.

000-315-612-000

4. Exact name of issuer as specified in its charter

The Philodrill Corporation

5. Province, country or other jurisdiction of incorporation

Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

8/F Quad Alpha Centrum, 125 Pioneer St., Mandaluyong City Postal Code 1550

8. Issuer's telephone number, including area code

631-8151

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	191,868,805,358

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.

The Philodrill CorporationOV

PSE Disclosure Form 4-26 - Legal Proceedings References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Decision of Labor Arbiter Renaldo Hernandez in NLRC Case No. NCR-02-02562-17, a complaint about money claims filed by Mr. Francisco A. Navarro against The Philodrill Corporation, Mr. Alfredo C. Ramos and Reynaldo E. Nazarea.
Background/Description of the Disclosure
Further to our disclosure of March 6, 2017, regarding the complaint for money claims filed by Mr. Francisco A. Navarro against respondents The Philodrill Corporation, Mr. Alfredo C. Ramos and Reynaldo E. Nazarea, please be advised that The Philodrill Corporation has received today, September 8, 2017, the decision of Labor Arbiter Renaldo Hernandez in NLRC Case No. NCR-02-02562-17, the dispositive portion of which reads as follows: “WHEREFORE, judgment is hereby rendered DISMISSING the complaint against respondents for utter lack of merit.”

Name of the court or agency in which the proceedings are pending	National Labor Relations Commission
Date Instituted	Feb 22, 2017
Docket Number	NLRC-NCR-02-02562-17

Principal Parties
Francisco A. Navarro - Complainant The Philodrill Corporation/Alfredo C. Ramos and Reynaldo E. Nazarea - Respondents
Nature and description of the legal proceedings
Mr. Navarro is claiming special retirement benefit amounting to P19,893,000.00, profit share of P1,391,721.00 and litigation expenses of at least P2,128,472.10. He is also claiming moral and exemplary damages amounting to P20,000,000.00
The effect(s) on the Issuer's business or operations, if any
The Company believes these claims are without basis, as Mr. Navarro has been paid his full retirement benefits in accordance with the Company’s approved Retirement Plan. Mr. Navarro has executed a quitclaim on January 11, 2017 in favor of Philodrill, attesting to the fact that he has no further claims against the Company, after receiving all his retirement benefits. While we cannot speculate on the adverse effects of the proceedings on the reputation of the Company, this however, will not affect the business operations of Philodrill. The Company shall proceed with its work program, in the ordinary course of business.
Other Relevant Information
The disclosure was amended to update the Subject and Background/Description of the Disclosure.