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)

Jan 12, 2018

2. SEC Identification Number

51048

3. BIR Tax Identification No.

000-053-167

4. Exact name of issuer as specified in its charter

FILINVEST DEVELOPMENT CORPORATION

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

6F, THE BEAUFORT, 5TH AVE. CORNER 23RD STREET, BONIFACIO GLOBAL CITY, TAGUIG CITY Postal Code 1634

8. Issuer's telephone number, including area code

(632) 918-8188 / 798-3958

9. Former name or former address, if changed since last report

Not Applicable

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	8,648,462,987

11. Indicate the item numbers reported herein

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.

Filinvest Development CorporationFDC

PSE Disclosure Form 4-11 - Change in Number of Issued and Outstanding Shares References: Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Change in Number of Outstanding Shares
Background/Description of the Disclosure
The Board of Directors of Filinvest Development Corporation (FDC) approved on December 22, 2017 the amendment by way of partial rescission of the Deed of Exchange executed on June 29, 2007, between FDC and A. L. Gotianun, Inc. (ALGI). The said Deed of Exchange covered the 100% acquisition by FDC from ALGI of Pacific Sugar Holdings Corporation (PSHC). The partial rescission entails the return by ALGI to FDC of 542,500,000 of FDC shares valued, on date of exchange, at P3,906,000,000 plus all pertaining stock and cash dividends subsequently declared thereon in the amount of 126,511,000 shares and P315,745,373, respectively. The total of 669,011,000 FDC shares (unlisted shares) that will be returned by ALGI will be lodged in FDC as treasury shares. The partial rescission was made at the instance of management who saw the need and propriety to adjust the valuation of PSHC, taking into consideration the fact that the various projects that PSHC had planned to implement will no longer be pursued in the foreseeable future. The partial rescission will be favorable to FDC’s minority shareholders since the partial return by ALGI of FDC shares to FDC will reduce ALGI’s shareholdings in FDC from the current 88.62% down to 87.74%. On the other hand, minority shareholders’ interest will increase from 10.11% to 10.89%. In addition, FDC’s total outstanding shares will be reduced correspondingly from 9,317,473,987 shares to 8,648,462,987 shares, effectively enhancing the company’s earnings per share (EPS) and P/E Multiple. (Note: This is an amendment to the disclosure statement submitted to the PSE on December 27, 2017 on the subject. The change in FDC's outstanding shares has been effected on December 28, 2017, brought about by the lodging, as FDC treasury shares, of the 669,011,000 unlisted FDC shares that were returned by ALGI to FDC.)

Change(s) in Number of Issued and Outstanding Shares

Issued Shares

Type of Security /Stock Symbol	Before	After
Common / FDC	9,319,872,387	9,319,872,387

Outstanding Shares

Type of Security /Stock Symbol	Before	After
Common / FDC	9,317,473,987	8,648,462,987

Other Changes, if any

In percent	Before	After
Public float	10.11	10.89
Foreign Ownership level	0.56	0.61