| C00778-2026 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common | 1,806,726,314 |
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.
| Subject of the Disclosure |
|---|
Legal Proceedings |
| Background/Description of the Disclosure |
The SEC En Banc issued a Resolution denying the appeal of NOW Corporation and its chairman, Mel Velarde. |
| Name of the court or agency in which the proceedings are pending | Securities and Exchange Commission |
|---|---|
| Date Instituted | Mar 4, 2024 |
| Docket Number | SEC En Banc Case No. 03-24-541 |
| Principal Parties |
|---|
NOW Corporation and Mel V. Velarde v. SEC Enforcement and Investor Protection Department (EIPD) |
| Nature and description of the legal proceedings |
This case was filed by the Company and its Chairman, Mel Velarde, through counsel, before the SEC En Banc, seeking the reversal of the Orders dated 15 June 2023 and16 February 2024 issued by the SEC EIPD, where the latter adjudged the Parties to be administratively liable for violation of Section 24.1(d) of R.A. 8799, for allegedly disclosing misleading information to the public in connection with a news report about an alleged Php 2.6 billion liability of NOW Corporation's affiliate to the government. |
| The effect(s) on the Issuer's business or operations, if any |
The foregoing incident has no impact on the financial condition and business operations of the Company since the Company intends to further appeal the decision to the appropriate appellate court. |
| Other Relevant Information |
An electronic copy of this Decision was emailed to the Company's counsel on January 28 at 3:00PM. Chairman Velarde was advised of the electronic copy by counsel on 29 January at 8:40AM. The official copy of the Decision was initially delivered to the counsel's old address of record. On 5 February 2026, the official copy was received at the new office address of the Company's counsel. |
| Name | Maria Jerzy Aprille Torres |
|---|---|
| Designation | Corporate Secretary and Acting Compliance Officer |