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 11, 2017

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

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	1,169,090,400

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 4-30 - 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
Matters approved by the Board of Directors in its special meeting held on 11 April 2017.
Background/Description of the Disclosure
The Company's Board of Directors, in its special meeting held today, approved the following matters: (a) Approval of a new P200 million Share Buyback Program to replace the previous share buyback mandate which has already been exhausted; and (b) Approval for the Company to avail of a 5-year fixed interest term loan with loan value of up to PhP 2.5 billion from Security Bank Corporation
Other Relevant Information
1. The Board of Directors approved a new share buyback program authorizing up to another PhP 200.0 million in share buybacks. The share repurchases will be undertaken in open market, equal access transactions through the trading facilities of the Philippine Stock Exchange and will run from April 18, 2017 until the amount earmarked for the program has been fully utilized. The program will be funded by internally generated funds from its unrestricted retained earnings and is not expected to affect any of the Company’s existing or prospective projects and dividend policy. The repurchased shares will be held as treasury shares. Based on the last trading price of P5.98 per share on April 10, 2017, this will approximately involve some 33,444,816 common shares or about 2.79% of the Company’s issued share capital. Since the start of the share buyback program in November 2016, the Company has purchased a total of 30,959,600 common shares for a total value of about PhP 200 million . The buyback program is intended to enhance shareholder value, bolster shareholders’ confidence, and strengthen the fundamental value of the Company’s shares. 2. The Board of Directors also authorized the execution of a 5-year term loan from Security Bank Corporation with loan value of up to PhP 2.5 Billion. The loan is offered at a fixed preferential interest rate with a 2-year grace period on principal amortizations. The loan will be used to bankroll purchases of property related investments of the SBS group of companies in line with the diversification strategy to increase the property-related investments portfolio of the Group.