C06071-2017

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)
Oct 9, 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 FRANCISO 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 SHARE 1,247,999,999
11. Indicate the item numbers reported herein
Item 4: Changes in director and officer line up

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 4-8 - Change in Directors and/or Officers
(Resignation/Removal or Appointment/Election)
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Changes in the line up of directors and officers
Background/Description of the Disclosure

Announcement on the changes in directors and officers and their appointment in Board Committees:

(a) Resignations of Mr. Rosaleo M. Montenegro, independent director, and Ms. Victorina B. Ladringan;executive director, EVP & Chief Investments Officer with effect on October 9, 2017 ;

(b) Election of Ms. Roberto F. Anonas, Jr, and Ms. Yvonne C. Lih as new independent Directors of the Company effective October 9, 2017 to fill the vacancies in the Board as a result of the resignations of Mr. Montenegro and Ms. Ladringnan;

(c). Appointment of Ms. Roberto F. Anonas, Jr. as Chairman of the Corporate Governance, Nomination and Remuneration Committee and as a member of the Audit, Risk Management and Related Party Transaction Committee, with effect on October 9, 2017; and

(d) Appointment of Ms. Yvonne C. Lih as Lead Independent Director and as Board Committee member of the Audit, Risk Management and Related Party Transaction Committee as well as the Corporate Governance, Nomination and Remunration Committee, with effect on October 9, 2017;

(e) Change in the designation of the Board Committee appointment of Mr. Ricardo Nicanor N Jacinto, a non-executive director, in the Corporate Governance, Nomination and Remuneration Committee from a regular member thereof to an ex-officio member of the committee.
Resignation/Removal or Replacement
Name of Person Position/Designation Effective Date of Resignation/Cessation of term
(mmm/dd/yyyy)		 Reason(s) for Resignation/Cessation
ROSALEO M. MONTENEGRO INDEPENDENT DIRECTOR, CHAIRMAN OF THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE AND MEMBER OF THE AUDIT, RISK MANAGEMENT AND RELATED PARTY TRANSACTION COMMITTEE 10/09/2017 Due to other commitments and heavier responsibilites as a senior executive in other businesses.
VICTORINA B. LADRINGAN EXECUTIVE DIRECTOR, EVP & CHIEF INVESTMENTS OFFICER, AND AS A MEMBER OF THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE AND THE AUDIT, RISK MANAGEMENT AND RELATED PARTY TRANSACTION COMMITTEE 10/09/2017 Assignment and secondment to the Company's subsidiary, SBS Holdings and Enterprises Corporation, as President thereof
Election or Appointment
Name of Person Position/Designation Date of Appointment/Election
(mmm/dd/yyyy)		 Effective Date of Appointment Election
(mmm/dd/yyyy)		 Shareholdings in the Listed Company Nature of Indirect Ownership
Direct Indirect
ROBERTO F. ANONAS, JR. INDEPENDENT DIRECTOR, CHAIRMAN OF THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE AND AS MEMBER OF THE AUDIT, RISK MANAGEMENT AND RELATED PARTY TRANSACTION COMMITTEE 10/09/2017 10/09/2017 1,000 0 n/a
YVONNE C. LIH INDEPENDENT DIRECTOR, LEAD INDEPENDENT DIRECTOR AND MEMBER OF THE AUDIT, RISK MANAGEMENT AND RELATED PARTY TRANSACTION COMMITTEE AND THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE 10/09/2017 10/09/2017 1,000 0 n/a
Promotion or Change in Designation
Name of Person Position/Designation Date of Approval
(mmm/dd/yyyy)		 Effective Date of Change
(mmm/dd/yyyy)		 Shareholdings in the Listed Company Nature of Indirect Ownership
From To Direct Indirect
RICARDO NICANOR N. JACINTO REGULAR MEMBER OF THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE EX-OFFICIO MEMBER OF THE CORPORATE GOVERNANCE, NOMINATION AND REMUNERATION COMMITTEE 10/09/2017 10/09/2017 52,000 0 n/a
Other Relevant Information

Mr. Roberto F. Anonas, Jr., aged 62, holds a Masters in Business Administration from IMEDE, a Management Development Institute under the University of Lausanne, Switzerland and is currently a member of the faculty of the University of Asia and the Pacific, School of Management as lecturer in Finance and management mentor/coach in the Enterpreneurial Management Program. He has attended training programs in financial management, investment and universal banking with Dillon Read & Co, NYC and Dresdner Bank AG, Frankfurt and has previously held senior management and executive positions in PLDT, PCI Capital Corporation and Philippine Commercial Capital, Inc. He is also a director of Pentarch Stalwark Builders, Inc. and an independent director of Macay Holdings, Inc.

Ms. Yvonne C. Lih, aged 66, is a CPA and licensed real estate broker and holds a Masters in Business Administration from the Ateneo Graduate School of Business and is a graduate of the University of Negros Occidental –Recoletos, magna cum laude. Prior to her appointment in the Company, she was previously Chief Marketing Officer for Habitat for Humanity International, Senior Vice President, Property Sales and Leases Division of the Bank of the Philippines Islands and BPI Family Savings Bank, and Vice President, Centralized Operations Group of Citytrust Banking Corporation. She has over 40 years of experience in real estate management, audit and business control, strategic and project management and corporate governance.
Filed on behalf by:
Name REGINA SIMONA DE GUZMAN
Designation GENERAL COUNSEL & COMPLIANCE OFFICER