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)
Jun 16, 2025
2. SEC Identification Number
39274
3. BIR Tax Identification No.
000-506-020-000
4. Exact name of issuer as specified in its charter
ACEN CORPORATION
5. Province, country or other jurisdiction of incorporation
Makati City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
35th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati City Postal Code1226
8. Issuer's telephone number, including area code
(632) 7730 6300
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
39,677,394,773
Series A Preferred Shares
8,341,500
Series B Preferred Shares
16,658,500
11. Indicate the item numbers reported herein
Other Events
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.
ACEN CORPORATIONACEN
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
Executive Committee’s approval of sale of diesel plant companies to AC Energy and Infrastructure Corporation
Background/Description of the Disclosure
Please be advised that the Company’s Executive Committee approved today, 16 June 2025, the sale to AC Energy and Infrastructure Corporation (“ACEIC”) of the Company’s ownership interests in the following special purpose companies owning the Company’s diesel plants:
1. Bulacan Power Generation Corporation: 52MW diesel plant (Norzagaray, Bulacan) 2. One Subic Power Generation Corporation: 116MW diesel plant (Subic Freeport) 3. CIP II Power Corporation: 21MW diesel plant (Bacnotan, La Union)
ACEIC is the majority shareholder of the Company.
The completion of the divestment is subject to the satisfaction of agreed conditions precedent and the execution of definitive documentation. The divestment will be implemented via a sale to ACEIC of the Company’s outstanding common shares in the aforementioned special purpose companies. The divestment will help the Company achieve its goal of reaching 100% renewable energy generation by end-2025.
The total consideration is less than 10% of the total assets of the Company as of 31 December 2024.
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.
Other Relevant Information
Please refer to the attached Company's SEC 17-C Report.