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)

May 10, 2021

2. SEC Identification Number

21817

3. BIR Tax Identification No.

000-530-631

4. Exact name of issuer as specified in its charter

Philippine Telegraph and Telephone Corporation

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Spirit of Communications Centre 106 Carlos Palanca St., Legaspi Village, Makati City Postal Code 1229

8. Issuer's telephone number, including area code

(02) 8726-8888

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 Stock at 1.00 per share	1,500,000,000

11. Indicate the item numbers reported herein

Item 9. Others

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.

Philippine Telegraph and Telephone CorporationPTT

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
Reversal of the increase of PT&T's authorized capital stock.
Background/Description of the Disclosure
On 31 October 2018, the Company Registration and Monitoring Department (CRMD) of the Securities and Exchange Commission (SEC) approved the increase of PT&T’s authorized capital. The approval was subject to the condition that PT&T shall submit the Deeds of Assignment signed by its creditors. Considering the number of years that elapsed from the time the debts were incurred, PT&T encountered difficulties in securing all the Deeds of Assignment from its creditors. On 24 February 2021, PT&T requested CRMD for the reversal of the increase of its authorized capital. PT&T also informed CRMD that despite the reversal being requested, the debt-to-equity conversion mandated under PT&T’s Rehabilitation Plan will still be implemented albeit in several tranches and only after securing the Deeds of Assignment from its creditors. The CRMD requested the SEC’s Office of the General Counsel (OGC) for a comment on the reversal being requested by PT&T. The OGC then sought the opinion and recommendation of the Office of the Solicitor General (OSG) on the request of PT&T. After being informed by the OGC that the OSG is of the opinion that the increase in PT&T’s authorized capital may be revoked, the CRMD issued an Order dated 27 April 2021 revoking the increase of PT&T’s authorized capital. On 29 April 2021, the CRMD issued in favor of PT&T an unconditional Certificate of Good Standing.
Other Relevant Information
None.