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)
Nov 7, 2017
2. SEC Identification Number
108476
3. BIR Tax Identification No.
000-390-189-000
4. Exact name of issuer as specified in its charter
Philippine Seven Corporation
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7th Floor, The Columbia Tower Ortigas Avenue, Mandaluyong City Postal Code1550
8. Issuer's telephone number, including area code
(632) 724-4441 to 53
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
458,435,323
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.
Philippine Seven CorporationSEVN
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
PSC Stock Dividend Declaration 2017
Background/Description of the Disclosure
The Board of Directors of PHILIPPINE SEVEN CORPORATION, in its Special Meeting of June 16, 2017 held at Opal ABC, Level 4, Crowne Plaza Galleria Manila, Ortigas Avenue corner ADB Avenue, Quezon City, there being a quorum, the Board of Directors during said meeting has approved and adopted the following acts:
Stock Dividend Declaration
• Stock dividend declaration of 65% of the outstanding capital stock of the Corporation of 458,435,323 shares or equivalent to 297,982,960 common shares with par value of P1.00 per share;
• Issuance of 297,982,960 common shares with par value of P1.00 per share of the Corporation for distribution as stock dividend;
• Any fractional shares resulting from the stock dividend shall be rounded off to the nearest one (1), following the rules of rounding off;
• Record date for entitlement to stock dividend will be set by the Securities and Exchange Commission (SEC) in connection with its approval of the Corporation’s application for increase in authorized capital stock.
• Payment date of the stock dividend will be set not later than 18 trading days after the Record Date.
Type of Securities
Common
Preferred-
Others-
Stock Dividend
Date of Approval by Board of Directors
Jun 16, 2017
Date of Approval by Stockholders
Jun 16, 2017
Other Relevant Regulatory Agency, if applicable
-
Date of Approval by Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Securities and Exchange Commission
Nov 6, 2017
Stock Dividend Rate
65% of the outstanding capital stock of the Corporation of 458,435,323 shares
Source of Dividend Payment
2016 Unappropriated Retained Earnings
Source of Shares for Distribution
To be taken from the unissued capital stock
Number of Shares to be Issued :
-
To be taken from an increase in authorized capital stock
From:
600,000,000
To:1,600,000,000
Number of Shares to be Issued :
297,982,960
Others:
-
Number of Shares to be Issued :
-
Record Date
Nov 28, 2017
Payment Date
Dec 14, 2017
Other Relevant Information
Updated the date of approval of SEC, Record Date, Payment Date and indicated the number of shares to be issued. Please see attached report.