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)

May 10, 2018

2. SEC Identification Number

A20011402

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 SHARES	1,549,999,999

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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Matters approved by the Board of Directors in meeting held on May 10, 2018.
Background/Description of the Disclosure
In today's meeting, the Board of Directors approved the following matters: 1. Approval of the 1st quarter 2018 Unaudited Consolidated Financial Results of the Company and its Subsidiaries. 2. Approval to reallocate PHP200,000,000.00 from its share buy-back program back to the Company's unappropriated retained earnings. 3. Approval on the change of allocation of Stock Rights Offer proceeds amounting to PHP20,000,000 and allocate the same for general working capital of the Company. 4. Approval of the declaration of cash dividends amounting PHP0.017 per share held to stockholders of record as of June 1, 2018 and payable on June 22, 2018.
Other Relevant Information
N/A