C06237-2022

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)
Aug 12, 2022
2. SEC Identification Number
36359
3. BIR Tax Identification No.
000-438-702-000
4. Exact name of issuer as specified in its charter
BASIC ENERGY CORPORATION
5. Province, country or other jurisdiction of incorporation
MAKATI CITY
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
UB 111 Paseo de Roxas Bldg., Paseo de Roxas Avenue, Legaspi Village, Makati City Postal Code 1229
8. Issuer's telephone number, including area code
(+63) 7917-8118
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 Shares 14,668,643,064
11. Indicate the item numbers reported herein
Item No. 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.

Basic Energy CorporationBSC

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 Board Meeting of the Company on August 12, 2022 held via remote communication.
Background/Description of the Disclosure

The Board of Directors of Basic Energy Corporation (BEC), in its Special Board meeting on August 12, 2022, held via remote communication at which a quorum was present, and upon motion duly seconded, unanimously approved the following:

Confirmation Approval of the Proposed Amendments to the By-laws of the Company - the Board approved the proposed amendments to the following provisions and Articles of the Company's By-laws:

I) A new paragraph in Section 3 of Article 1 of the Amended By-laws

“RESOLVED TO AMEND SECTION 3, ARTICLE 1 OF THE AMENDED BY-LAWS BY ADDING A NEW PARAGRAPH TO READ AS FOLLOWS:

Section 3, Article 1- Notice of Meeting

“A stockholder who cannot physically attend any meeting of stockholders may participate in such meeting through remote communications or other alternative mode of communication. The stockholder concerned shall notify the Corporate Secretary of his intention to participate in the meeting via remote communication, within three (3) business days prior to the meeting and the Corporate Secretary shall note such fact in the minutes of the meeting.”

II) A new paragraph in Section 5 of Article 1 of the Amended By-laws

“RESOLVED, TO AMEND SECTION 5, ARTICLE I OF THE AMENDED BY -LAWS BY ADDING A NEW PARAGRAPH TO READ AS FOLLOWS:

Section 5, Article I -Voting at Stockholders Meeting

“In the election of directors of the Corporation, the stockholders may vote through remote communication.”

III) A new paragraph in Section 6 of Article 1 of the Amended By-laws

“RESOLVED, TO AMEND SECTION 6 ARTICLE 1 OF THE AMENDED BY-LAWS BY ADDING A NEW PARAGRAPH TO READ AS FOLLOWS:

Section 6, Article 1- Quorum

“A stockholder who participate in the meetings of the stockholders through remote communication shall be deemed present for purposes of quorum at said meetings.”

IV) In addition to the above proposed amendments, the corporate seal of the Corporation needs to be updated upon approval by the stockholders of the change in the principal office of the Corporation from Makati City to Mandaluyong City:

“Resolved, that upon approval of the change in the principal office address of the Corporation by the Stockholders, Article VII on the Corporate Seal of the Corporation shall be changed to read as follows:

“BASIC ENERGY CORPORATION; SEC Reg. No. 36359; 1968; MANDALUYONG CITY, METRO MANILA”
Other Relevant Information

For further details and developments, please refer to the counterpart disclosure of the Company on Amendments to By-laws (PSE Form 4-4)
Filed on behalf by:
Name Dominique Pascua
Designation Compliance Officer