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)

Jul 14, 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, PHILIPPINES 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 4-30 - 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 meeting of July 14, 2017
Background/Description of the Disclosure
In its meeting of July 14, 2017, the Board of Directors deemed it to the best interest of the Corporation to revise the stock rights offer structure previously approved by the Board on June 9, 2017 and to change and provide for the separate conduct of the stock rights offerings to be issued solely from the Corporation’s existing unissued capital stock and those subsequently to be offered and issued out of the increase in authorized capital stock to be undertaken by the Company; with the Board authorizing the conduct an initial stock rights offering of up to 302,000,000 common shares from the existing unissued capital stock of the Corporation to raise gross proceeds of up to PHP1.5B from the offering and for the subsequent stock rights offering to be offered and issued out of the increase in authorized capital stock to be undertaken by the Company. The size and the terms of the offering out of the increase in the authorized capital stock will be determined and fixed once the necessary corporate actions have been taken to authorize the new shares.
Other Relevant Information
Amending its the resolution dated June 9, 2017 on the size and terms of the stock rights offering, the Company's Board of Directors approved an initial Stock Rights Offering (“Offer”) comprising of up to 302,000,000 common shares with a par value of P1.00 per share (the “Rights Shares” or “Offer Shares”) from the existing unissued shares of the Corporation for subscription of existing holders of Common Shares of the Company which Offer is intended raise to up to One Billion Five Hundred Million Pesos (Php1,500,000,000.00) in gross proceeds. It also approved in principle the conduct of a subsequent stock rights offering to be offered and issued out of the increase in authorized capital stock to be undertaken by the Company, with the size and the terms of the rights offering out of the increase in the authorized capital stock to be determined and fixed once the necessary corporate actions have been taken to authorize the new shares. :