C02155-2025

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)
Apr 4, 2025
2. SEC Identification Number
A199600179
3. BIR Tax Identification No.
004-668-224
4. Exact name of issuer as specified in its charter
NOW CORPORATION
5. Province, country or other jurisdiction of incorporation
METRO MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Unit 5-I, 5th Floor OPL Building, 100 C. Palanca Street, Legaspi Vilage, Makati City Postal Code 1229
8. Issuer's telephone number, including area code
+632 88102548
9. Former name or former address, if changed since last report
-
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 1,806,726,314
11. Indicate the item numbers reported herein
-

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.

Now CorporationNOW

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 manilatimes.net
Subject of News Report "NTC junks NOW Telecom bid to operate nationwide"
Date of Publication Apr 4, 2025
Clarification of News Report

“THE National Telecommunications Commission (NTC) has denied NOW Telecom Co. Inc.'s bid to extend its authority to operate a nationwide mobile telecommunications system, declaring its provisional authority ‘inoperative.’

In a unanimous decision, the NTC ruled that NOW Telecom had failed to comply with critical regulatory and operational requirements, including the rollout of infrastructure, severely underutilized its assigned spectrum, and also had more than P3.57 billion in unpaid regulatory fees.

‘[NOW Telecom's] provisional authority to install, operate and maintain a nationwide mobile telecommunications system, offer services and to charge rates therefore, with the clarification that said authority is not specific to 3G, is hereby deemed inoperative in view of its expiration/non-extension of its provisional authority,’ the NTC said in a 45-page order dated March 19, 2024.

The regulator said that its earlier rulings — specifically those dated Sept. 14, 2020 and Dec. 4, 2020 — had attained finality, barring the company from reasserting the same claims.

It also dismissed NOW Telecom's claims that it owed no outstanding supervision and regulation (SRF) and spectrum user fees (SUF), citing Supreme Court rulings that upheld the NTC's imposition of said fees.

‘As of 31 December 2024, NOW Telecom Company Inc./ NEXT Mobile, Inc. still has an outstanding SRF in the total amount of P3,578,211,841.22,’ the NTC said, broken down into P1.33 billion in principal fees and P2.24 billion in penalties.

The NTC likewise noted that the high tribunal also affirmed NOW Telecom's disqualification from obtaining 3G frequency allocation.

Contrary to its claims, NOW Telecom failed to pay even the uncontested portion of its regulatory fees for 2022, 2023, and 2024, the NTC said.

Operationally, the NTC found NOW Telecom's network rollout to be grossly deficient. Of the 2,306 base stations it committed to build under its 2017 Revised Rollout Plan, only six were installed — all in Metro Manila — and none were transmitting on the assigned frequency.

. . . .

The commission also dismissed NOW Telecom's references to the third telco selection process as ‘moot and irrelevant,’ noting that DITO Telecommunity Corp. had already fulfilled all requirements as early as November 2024.

. . . .”

Not being a party to the NTC case subject of the news article, NOW Corporation has not been furnished a copy of the said NTC Order. As of this time, the Company has been informed by its associate, NOW Telecom Company, Inc., that the latter has not yet received a copy of the said NTC Order. NTC’s press release came out ahead of NOW Telecom’s receipt of the NTC Order. Both the Company and its associate have no knowledge of the actual issuance as well as the contents of the said NTC Order. Hence, NOW Corporation cannot make a full, fair and accurate disclosure on the foregoing matter (including the legal action/remedy that its associate will take, as well as the effects of NTC Order to the Company’s business and operations) at this time.
Other Relevant Information

NOW Corporation will provide the Exchange with fair and accurate disclosure on the foregoing matter as soon as its associate has received copy of the subject NTC Order.
Filed on behalf by:
Name Angeline Macasaet
Designation Corporate Secretary and Acting Compliance Officer