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 18, 2022

2. SEC Identification Number

AS93000023

3. BIR Tax Identification No.

003-822-183-000

4. Exact name of issuer as specified in its charter

DISCOVERY WORLD CORPORATION

5. Province, country or other jurisdiction of incorporation

Metro Manila, Philippines

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 Shares	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 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Additional Subscription to Cay Islands Corporation (CIC)
Background/Description of the Disclosure
In a meeting on 18 November 2022, the Board resolved to increase Discovery World Corporation's (DWC) subscription by Thirty Million (30,000,000) shares of CIC with a par value of One Peso (Php1.00) per share or a total of Thirty Million Pesos (P30,000,000.00) to be used as working capital.

Date of Approval by Board of Directors	Nov 18, 2022

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
This acquisition is in line with DWC's business and will create opportunities for expansion of the Corporation's resort business.

Details of the acquisition or disposition

Date	TBA

Manner
Subscription of Shares / Subscription Contract The Subscription Agreement is yet to be executed and this disclosure shall be updated in due course.
Description of the company to be acquired or sold
CIC owns real property in El Nido, Palawan used as a site for its retail development "Shoppes at Vanilla Beach" and other planned hotel and hostel developments

The terms and conditions of the transaction

Number of shares to be acquired or disposed	30,000,000
Percentage to the total outstanding shares of the company subject of the transaction	11.11
Price per share	Php 1.00

Nature and amount of consideration given or received
The consideration is based on par value
Principle followed in determining the amount of consideration
The consideration is based on par value
Terms of payment
The subscription of Thirty Million (30,000,000) shares shall be paid upon call of the Board of Directors of CIC
Conditions precedent to closing of the transaction, if any
The additional subscription of Forty Million (30,000,000) shares shall be conditioned on the application for Increase in Authorized Capital Stock by Cay Islands Corporation from Two Hundred Million Pesos (P200,000,000.00) to Three Hundred Million Pesos (Php 300,000,000.00) and approved by the Securities and Exchange Commission.
Any other salient terms
N/A

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Cay Islands Corporation	Cay Islands Corporation is a wholly-owned subsidiary of DWC

Effect(s) on the business, financial condition and operations of the Issuer, if any
This acquisition will help augment working capital and create opportunities for expansion of the Corporation's resort business.
Other Relevant Information
The current outstanding capital stock of CIC is Two Hundred Million (200,000,000) shares. On 21 January 2021, the Executive Committee of DWC resolved to subscribe to Forty Million (40,000,000) CIC shares conditioned upon the approval of an increase in CIC’s Authorized Capital Stock, increasing the total outstanding capital stock to Two Hundred Forty Million (240,000,000) shares. With the subscription of DWC of Thirty Million (30,000,000) shares, the total outstanding capital of CIC would be Two Hundred Seventy Million (270,000,000) shares. The additional subscription of Thirty Million shares (30,000,000) is likewise conditioned upon the application and approval of increase in Authorized Capital Stock of CIC.