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SBS Philippines CorporationSBS

PSE Disclosure Form 4-29 - Disbursement of Proceeds and Progress Report References: Memorandum No. 626 - 2007 dated December 20, 2007
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Disbursement of IPO USOP

Background/Description of the Disclosure

With reference to the Initial Public Offering Use of Proceeds (“USOP”), SBS Philippines Corporation (the "Company") has previously re-allocated P104,600,000 to be used as Capex for the equipment and machinery of the Company.

However, the Company wishes to re-appropriate said USOP, the balance of which is approximately PHP82M as of December 31, 2018, and re-allocate PHP80M to investment in affiliates.

Thus, the Company through its board of Directors approved to amend the USOP and reallocated PHP80M to investment in affiliates, which will be used to partially support its additional subscription to its Affliliate, Smyte Phils. Holdings Corporation ("Smyte").

We amend to disclose that the Company disbursed PHP80M today as part of its new subscription in its affiliate, Smyte.

Other Relevant Information


Filed on behalf by:
Name Gerry Tan
Designation President and CEO