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
379,562,200
11. Indicate the item numbers reported herein
1
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.
Transpacific Broadband Group Int`l. Inc.TBGI
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
Results of the special meeting of the Board of Directors held on June 24, 2022.
Background/Description of the Disclosure
A. Transpacific to co-own a PPP Satellite Project Transpacific is developing a 5-year program for a Private Public Partnership (PPP) with the government in a micro-satellite project that may reduce government cost of satellite connectivity by 50%. The Micro-SAT technology could provide 10 Gigabits capacity of Internet of Ka or Ku bands that could easily connect 10,000 sites with speeds of 50 mbps per site. With the PPP project the Philippine government can own, control and operate its own satellite for both civilian and military purposes digitally transforming the rural community with various applications of government service while Transpacific can distribute Internet bandwidths to private entities..
B. Transpacific to Bid for the PhP 1.6 billion DICT Nationwide Internet Service for the Government Transpacific Broadband Group Int’l Inc. (TBGI) intends to participate in the bidding of Indefeasible Right of Use (IRU) Satellite Bandwidth of contract owner Department of Information and Technology (DICT) for the provision of a dedicated Satellite Transponder Internet Bandwidth with a capacity of Three Thousand (3,000) Mbps with 1:1 for use in 470 (438 fixed and 32 mobile) satellite earth stations for the two lnternet-Over-Satellite (IOS) services
xxx xxx xxxx xxxx
C. Transpacific delivering Internet of Things (IOT) satellite service for Philippine Food Security (Global Model for Food Security ) as challenged by climate change.
Internet of Things for Agriculture (IoAT) provides farmer business with vital information into farm conditions for better productivity. IoAT-based system optimizes the use of resources and ensures more productive agricultural practices. IoT sensors and smart signal loops automate irrigation systems, weather stations monitoring, and biometric systems for specific applications in agriculture. Inefficient manual farm labor will be augmented or replaced by efficient operation of new technologies like spraying of insecticide and sowing of seeds by “ARMADA OF DRONES” drones. Soil condition is monitored by 10 for proper timing of planting and harvesting of agricultural crops.
Satellite-based Internet of Things solutions – such as sensors for soil salinity, nutrient levels and humidity – need low-cost, fuss free connectivity on site. IoAT enables the integration of machinery tracking devices to keep track of machinery usage and fuel consumption. These are a few examples of how agriculture efficiency is enabled by IoT through satellite internet services.Transpacific intends to provide Internet of Things services using its existing network and partnership with various parties.
After discussions, the following resolutions were unanimously approved by the Board of Directors:
“RESOLVED, that the Board of Directors authorizes TBGI to participate in the aforementioned DICT bidding under terms and conditions favorable to the Corporation;
RESOLVED, that the Board of Directors authorizes TBGI to form a consortium or joint venture to serve the DICT, and to negotiate the terms and conditions for the consortium under terms and conditions favorable to the Corporation;
RESOLVED, that the Board of Directors authorizes TBGI to invest P100M to jumpstart and accelerate the Philippine market Internet of Things (IOT) solutions for various industries under terms and conditions favorable to the Corporation;
RESOLVED, FURTHER, that Mr. Paul B. Saria, Chief Operating Officer, be authorized to sign any and all documents or papers necessary to execute the foregoing matters;
RESOLVED, FINALLY, that the foregoing resolution remain valid and subsisting, unless otherwise revoked or amended in writing by the Corporation.”
Other Relevant Information
Forward Looking Statement
The subject resolutions may contain statements about future events and expectations that constitute “forward-looking statements.” The government project for bid is subject to known and unknown risk and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Known uncertainties affecting forward looking statements includes (1) change in political climate, (2) regulatory risk, (3) foreign exchange risk, and (4) project completion risk. Lastly, such forward looking statements are made based on (i) management’s current expectations and discussions, (ii) speak only as at the date of this resolution, (iii) nothing contained in the resolution should be relied upon as a promise or representation as to the future (iv) the authorization for agreement and engagement are still not definitive in nature as they are yet plans of the Company and may differ from the final execution documents.
Transpacific Broadband Group Int`l. Inc.TBGI