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
38,225,838,177
11. Indicate the item numbers reported herein
N/A
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AC Energy CorporationACEN
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
Approval of the revisions to the use of SRO and FOO proceeds
Background/Description of the Disclosure
Further to disclosure report numbers C08796-2020 dated 21 December 2020 and C00943-2021 dated 16 February 2021, the Board of Directors approved today, 4 August 2021, the reallocation of a portion of the proceeds of the Corporation’s Stock Rights Offer (“SRO”) and Follow-on Offer (“FOO”) as disclosed in the respective Prospectus for the SRO and FOO, as follows: 1. A portion of the proceeds of the SRO in the amount of Php900 Million to partially finance its investment in Greencore 3 Power Solutions, Inc. for a 75 MWdc plant in Arayat and Mexico, Pampanga, out of the amounts originally allocated to (a) partially finance its Other Projects, in particular, (i) Investment in the 160MW Balaoi wind project (ii) Investment into a renewable energy laboratory and (iii) Funding of up to U.S.$100 million for new technology investments in the Philippines (Php600 million), and (b) finance its investment in Giga Ace 8, Inc. (“Giga Ace 8”) for a 75MWdc plant in Palauig, Zambales, with a target to increase to 130MWdc (the “Palauig Solar Project”) (Php300 million); and 2. A portion of the proceeds of the FOO in the amount of Php6.17 billion to partially finance its investment in Santa Cruz Solar Energy Inc. for a 250MWdc plant in San Marcelino, Zambales (Php5.37 billion) and for land acquisition (Php0.8 billion), out of the amounts originally allocated to partially finance its investment in Giga Ace 8 for the Palauig Solar Project (Php4.3 billion), repayment of loans and reduction of payables (Php580 million), and new technology investments (Php1.29 billion).