C04682-2020

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 6, 2020
2. SEC Identification Number
39274
3. BIR Tax Identification No.
000-506-020-000
4. Exact name of issuer as specified in its charter
AC Energy Philippines, Inc.
5. Province, country or other jurisdiction of incorporation
Makati City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
4th Floor, 6750 Office Tower, Ayala Avenue, Makati City Postal Code 1226
8. Issuer's telephone number, including area code
(02) 7730 6300
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 7,508,174,922
Amount of Debt Outstanding 1Q 2020 (in billions) 28.65
11. Indicate the item numbers reported herein
N/A

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.

AC Energy Philippines, Inc.ACEPH

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification of the news article in Inquirer.Net on 4 July 2020 entitled "321 residents evacuated amid power barge oil spill in Iloilo City"
(https://newsinfo.inquirer.net/1301813/321-residents-evacuated-amid-power-barge-oil-spill-in-iloilo-city)
Source Inquirer.Net
Subject of News Report 321 residents evacuated amid power barge oil spill in Iloilo City
Date of Publication Jul 4, 2020
Clarification of News Report

We write to confirm reports that the Company’s Power Barge 102 located in Barrio Obrero, Iloilo City, discharged fuel oil at around 3:00 p.m. on July 3, 2020. The root cause is yet to be determined, but initial findings reveal that the discharge is attributable to ignition of fuel oil in storage which ruptured the barge’s fuel tank. The Company immediately activated containment protocols through containment booms but due to strong ocean waves, some of the fuel oil escaped the confinement area. The leakage was contained at around 10:00 p.m. of the same day with the rapid deployment of more than 170 combined personnel of the Company and the Coast Guard with 14 boats and multilayered spill booms from the Company, the Coast Guard, Petron, and Global Business Power Corp.

After containment, the Company and the Coast Guard immediately started recovery of the remaining floating residue. Recovery capacity was increased with additional oil skimming equipment from Shell Philippines the following morning and another from the Company's Power Barge 103 the next day.

The Company has engaged Harbor Star, a leading maritime services provider, to finish the clean-up of both the waters and the coastline, beginning with the inlet areas, followed by the coast, and then any offshore areas to recover and safely disperse any remaining oil residue. Clean-up is estimated to be completed in 10 to 15 days.

Meanwhile, some 120 households within the neighboring area have been relocated to the Barangay Obrero Elementary School in coordination with local government officials, while their surroundings are undergoing clean-up, and as protection against fumes brought by the prevailing winds. The Company continues to provide these families with food, health care, PPEs and other necessities, and is working on further relocation to other nearby schools to observe social distancing.

The Risk Reduction and Management Council VI, with representatives from the PCG, DILG, DSWD, DOH, PPA, Marina, PRO, BFB, CDRMO and CHO of Iloilo City, was convened to discuss the on-going response operations and to activate a management team to focus on the incident. The Company continues to coordinate with the Coast Guard, Iloilo Mayor Jerry Treñas, the officials of the local government of Iloilo, and our host community who are helping in the containment efforts.

The Company will also engage third-party experts to determine the cause of the explosion in order to avoid similar situations in the future.

We are committed to exert all available means to clean-up any remaining residue as soon as possible and support the affected communities.
Other Relevant Information

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Filed on behalf by:
Name Alan Ascalon
Designation Vice President/ Asst. Corporate Secretary