C05885-2024

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)
Sep 5, 2024
2. SEC Identification Number
CS201627300
3. BIR Tax Identification No.
009-468-103
4. Exact name of issuer as specified in its charter
SP New Energy Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
20th Floor Philam Life Tower, 8767 Paseo De Roxas, Barangay Bel-Air, Makati City, Philippines Postal Code 1226
8. Issuer's telephone number, including area code
02 8817 2585
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 50,073,050,000
11. Indicate the item numbers reported herein
Item 9 - Others

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.

SP New Energy CorporationSPNEC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification of News Article
Source Manila Bulletin (Online Edition)
Subject of News Report Meralco invests P7.5 billion more to gain control of SPNEC
Date of Publication Sep 4, 2024
Clarification of News Report

DISCLOSURE DEPARTMENT
THE PHILIPPINE STOCK EXCHANGE, INC.
Philippine Stock Exchange Plaza,
PSE Tower, 5th Avenue corner 28th Street,
Bonifacio Global City, Taguig City

Attention: ATTY. STEFANIE ANN B. GO
Officer-in-Charge, Disclosure Department

RE: Clarification of News Article

Dear Atty. Go,

We write in reply to the email of the Exchange dated 4 September 2024, addressed to SP New Energy Corporation (the “Corporation”), requesting for additional information in connection with the news article entitled “Meralco invests P7.5 billion more to gain control of SPNEC” posted in Manila Bulletin (Online Edition) on September 4, 2024, it was reported that:

In the article, it was reported that:

“Pangilinan-led Manila Electric Company is gaining a firmer control over SP New Energy Corporation (SPNEC) by raising its interest to 50.5 percent with the acquisition of an additional stake worth P7.5 billion from its founder Leandro Leviste.

Meralco PowerGen Corporation (MGen) is buying another 5.8 billion shares or 11.6 percent of SPNEC of from Leviste’s Solar Philippines Power Project Holdings, Inc. (Solar Philippines).

This will bring the total investment of MGen and its affiliates in SPNEC to P27.9 billion for 25.3 billion shares or 50.5 percent of SPNEC.

On September 3, MGen’s wholly-owned subsidiary, MGen Renewable Energy, Inc. paid Solar Philippines P6.7 billion, with an additional P0.8 billion to be paid to Solar Philippines upon the completion of the planned entry of another investor into Terra Solar Philippines, Inc. (Terra Solar).

After these transactions, Solar Philippines will continue to own 14.7 billion shares or 29.4 percent of SPNEC…”


With reference to the said news article, the Corporation clarifies the article that MGen Renewable Energy, Inc. (MGreen) entered into an Exchangeable Note Facility and Security Agreement with Solar Philippines Power Project Holdings, Inc. (SPPPHI). Under this Agreement, MGreen extended a one-year loan of PhP6.7 billion exchangeable into 5.8 Billion SPNEC shares at maturity.

The Corporation does not expect this transaction to have a material impact on its business and operations.

We trust that we have clarified the request for information for the benefit of the investing public. We will apprise the Exchange for any further developments on this matter.

Thank you.

Very truly yours,

SP NEW ENERGY CORPORATION
Other Relevant Information

Please see attached letter.
Filed on behalf by:
Name Arrenz Joseph Magnabihon
Designation Head, Investor Relations and Corporate Communications