C08079-2021

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)
Nov 29, 2021
2. SEC Identification Number
AS93000023
3. BIR Tax Identification No.
003822183000
4. Exact name of issuer as specified in its charter
DISCOVERY WORLD CORPORATION
5. Province, country or other jurisdiction of incorporation
STATION 1, BALABAG, MALAY AKLAN
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
STATION 1, BALABAG, MALAY, AKLAN Postal Code 5608
8. Issuer's telephone number, including area code
8813-8857
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 854,000,000
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.

Discovery World Corporation DWC

PSE Disclosure Form 4-3 - Amendments to Articles of Incorporation References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Amendments to the Articles of Incorporation of Discovery World Corporation (DWC)

Background/Description of the Disclosure

Please be advised that in a Board Meeting held on 16 September 2021, the Board approved the proposed amendments to the Articles of Incorporation (AOI) of DWC, namely:

The Corporation's Primary and Secondary Purposes (Art II of the AOI)

The amendment to the Amended Articles of Incorporation was submitted for approval by way of written assent to the stockholders of record of the Corporation as of 13 October 2021. Stockholders were given until 29 November 2021 to submit their written assent

Date of Approval by
Board of Directors
Sep 16, 2021
Date of Approval by Stockholders Nov 29, 2021
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 TBA
Date of Receipt of SEC approval TBA
Amendment(s)
Article No. From To
Two (Primary Purpose) To develop, invest in, own, acquire, administer, construct and operate hotels, resorts, apartelles, condominiums, townhouses, buildings, other tourist-related structures, and their usual facilities, including but not limited to, the operation of transportation or shuttle services for tourists in all its various forms by means of automobiles, motor cars, buses, trucks, cruise lines, yachts, boats, luxury vessels, leisure and sports crafts, and other similar modes of transportation and conveyances of every kind and description as may be allowed by law To develop, invest in, own, acquire, administer, construct and operate hotels, resorts, apartelles, residential subdivisions, condominiums, townhouses, buildings, other tourist-related structures, and their usual facilities, including but not limited to, the operation of transportation or shuttle services for tourists in all its various forms by means of automobiles, motor cars, buses, trucks, cruise lines, yachts, boats, luxury vessels, leisure and sports crafts, and other similar modes of transportation and conveyances of every kind and description as may be allowed by law
Two (Secondary Purpose) To borrow or raise money to meet the financial requirements of its business by the issuance of bonds, promissory notes and other evidences of indebtedness, and to secure the repayment thereof by mortgage, pledge, deed of trust or lien upon the properties of the corporation or to issue pursuant to law, shares of its capital stock or debentures, in payment for properties acquired by the corporation or for money borrowed in the prosecution of its lawful business To borrow or raise money necessary for any of the purposes of the corporation, and from time to time without limit as to amount to draw, make, accept, endorse, discount, transfer, assign, execute and issue bonds, promissory notes and other evidences of indebtedness, and to secure the repayment thereof by mortgage, pledge, deed of trust or lien upon the properties of the corporation or to issue pursuant to law, shares of its capital stock or debentures, in payment for properties acquired by the corporation or for money borrowed in the prosecution of its lawful business
Two (Secondary Purpose) - To apply for, obtain, register, purchase, lease, or otherwise acquire, and to the extent authorized by law, to hold, use, own, sell, assign, and otherwise dispose of any trademarks, trade names, distinctive marks, patients, inventions, improvements and processes, used in connection with or secured under letters patent of the Philippines or of any foreign country, and to use, exercise, grant licenses in respect of any patents, inventions, processes and the like or any such property or rights
Rationale for the amendment(s)

Two (Primary Purpose) - The addition of "residential subdivisions" that can be developed will allow DWC to expand its revenue streams to include real estate sales

Two (Secondary Purpose) - This amendment expands the means by which DWC may raise funds to meet its financial requirements

Two (Secondary Purpose) - This amendment makes explicit the power of the Corporation to apply for and own trademarks, and authorise others to use the same.

The timetable for the effectivity of the amendment(s)
Expected date of filing the amendments to the Articles of Incorporation with the SEC Dec 3, 2021
Expected date of SEC approval of the Amended Articles of Incorporation Jan 7, 2022
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any

The amendment to the corporate purpose to include the development of "Residential Subdivisions" will allow DWC to expand its product portfolio and increase its revenue streams

Other Relevant Information

Please note that the amendment to this disclosure was made to indicate that the date of stockholder approval was on 29 November 2021 - the last day for stockholders to submit the Written Assent Forms

The Corporation is expected to file the amendment with the SEC on or before 3 December 2021, and the expected approval by the SEC of the amendment is January 2022.

Filed on behalf by:
Name Anna Francesca Respicio
Designation Corporate Secretary