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)

Aug 2, 2016

2. SEC Identification Number

A200110402

3. BIR Tax Identification No.

213-054-503

4. Exact name of issuer as specified in its charter

SBS PHILIPPINES CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

NO. 10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105

8. Issuer's telephone number, including area code

(02) 371 1111

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	1,200,000,000

11. Indicate the item numbers reported herein

ITEM 9: 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.

SBS Philippines CorporationSBS

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
Disposal of 35% shareholding interests in Nechester Corporation by SBS Philippines Corporation (the "Company")
Background/Description of the Disclosure
Sale of 192,499 common shares of the capital stock of Neschester Corporation to STI Education Systems Holdings, Inc.

Date of Approval by Board of Directors	Aug 1, 2016

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
Management considered it to be an appropriate time to divest and sell its shareholdings in Neschester Corporation to unlock the share's best maximum value and realize a major gain from the transaction. The gain from such investment will diversify the income streams of SBS Philippines Corporation.

Details of the acquisition or disposition

Date	Aug 2, 2016

Manner
Sale of shares of stock for cash
Description of the company to be acquired or sold
Neschester Corporation is a holding company with investment asset.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	192,499
Percentage to the total outstanding shares of the company subject of the transaction	35
Price per share	P314.91

Nature and amount of consideration given or received
The total consideration for the Sale Shares is P60,619,850.00 payable in cash
Principle followed in determining the amount of consideration
Asset valuation
Terms of payment
The total consideration for the Sale Shares is payable in full in cash upon signing of the Deed of Absolute Sale on 2 August 2016
Conditions precedent to closing of the transaction, if any
Completion of due diligence review and performance of pre-closing undertakings
Any other salient terms
none

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
STI Education Systems Holdings, Inc.	none

Effect(s) on the business, financial condition and operations of the Issuer, if any
The sale of the Neschester shares will result in major cash inflows to the Company and which sales proceeds will be used for general working capital and to pursue attractive investment opportunities.
Other Relevant Information
none