EX-99 2 exhibit1.htm EX-99 Exhibit  EX-99

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of March 2014

Commission File Number 1-03006

Philippine Long Distance Telephone Company
(Exact Name of Registrant as Specified in Its Charter)

Ramon Cojuangco Building
Makati Avenue
Makati City
Philippines

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.)

Form 20-F Ö Form 40-F

(Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes No Ö

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-        )

1

NOTE REGARDING FORWARD-LOOKING STATEMENTS

Some information in this report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. We have based these forward-looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We have chosen these assumptions or bases in good faith. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in “Item 3. Key Information – Risk Factors” in our annual report on Form 20-F for the fiscal year ended December 31, 2012. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as at the date on which we made it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the statements in this report after the date hereof. In light of these risks and uncertainties, you should keep in mind that actual results may differ materially from any forward-looking statement made in this report or elsewhere.

2

EXHIBITS

         
Exhibit Number       Page
1
2
 
Copies of the disclosure letters that we filed today
with the Securities and Exchange Commission and the
Philippine Stock Exchange regarding the following
matters:
 



   
Press release regarding the audited consolidated
financial results of Philippine Long Distance Telephone
Company (the “Company”) as at and for the year ended
December 31, 2013;
a. Annual Meeting of Stockholders of the Company (date
of meeting, record date, last day for receiving
nominations for election of directors/independent
directors, last day for receiving proxies, date of
validation of proxies); and
b. Cash dividend declaration on the Company’s Common
Stock and Voting Preferred Stock.
 










Exhibit 1

March 4, 2014

Philippine Stock Exchange
3/F Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue
Makati City

Attention: Ms. Janet A. Encarnacion

Head, Disclosure Department

Gentlemen:

In accordance with Section 17.1 (b) and Section 17.3 of the Securities Regulation Code, we submit herewith a copy of SEC Form 17-C with a press release attached thereto regarding the Company’s audited consolidated financial results as at and for the year ended December 31, 2013.

This shall also serve as the disclosure letter for the purpose of complying with PSE Revised Disclosure Rules.

 
Very truly yours,
/s/Ma. Lourdes C. Rausa-Chan—
 
MA. LOURDES C. RAUSA-CHAN
Corporate Secretary

Page 1 of 13

3

Exhibit 1

March 4, 2014

Securities & Exchange Commission
SEC Building, EDSA
Mandaluyong City

Attention: Atty. Justina Callangan

Acting Director – Corporate Governance & Finance Department

Gentlemen:

In accordance with Section 17.1 (b) of Securities Regulation Code and SRC Rule 17.1, we submit herewith two (2) copies of SEC Form 17-C with a press release attached thereto regarding the Company’s audited consolidated financial results as at and for the year ended December 31, 2013.

 
Very truly yours,
/s/Ma. Lourdes C. Rausa-Chan—
 
MA. LOURDES C. RAUSA-CHAN
Corporate Secretary

Page 2 of 13

4

Exhibit 1

COVER SHEET

                     
P   W   -   5   5    
    S.E.C. Registration No.    
                                                                                     
P
  H   I   L   I   P   P   I   N   E   L   O   N   G   D   I   S   T   A   N   C   E
 
                                                                                   
                                                             
T
  E   L   E   P   H   O   N   E   C   O   M   P   A   N   Y
 
                                                           

(Company’s Full Name)

                                                                             
R
  A   M   O   N   C   O   J   U   A   N   G   C   O   B   L   D   G     .  
 
                                                                           
                                                                                 
M
  A   K   A   T   I   A   V   E     .     M   A   K   A   T   I   C   I   T   Y
 
                                                                               

(Business Address: No. Street City/Town/Province)

     
MS. JUNE CHERYL A. CABAL-REVILLA   816-8534
Contact Person
  Company Telephone Number
                                                         
1     2       3       1     SEC FORM 17-C 0     6     Every 2nd
                                                Tuesday    
-     -       -       -       -     -              
Month
                  Day           FORM TYPE   Month           Day
    Fiscal Year               Annual Meeting    
                 
C   F   D   N/A
-   -   -        
Dept. Requiring this Doc.       Amended Articles
               
Number/Section
                         
        Total Amount of Borrowings        
11,993
As of January 31, 2014
 
  N/A

 
  N/A

 

 

                 
Total No. of Stockholders
  Domestic   Foreign            

— —

To be accomplished by SEC Personnel concerned

         
    ______________________________
File Number
      LCU
         
    ______________________________
Document I.D.
      Cashier
 
STAMPS

Remarks: Please use black ink for scanning purposes.

Page 3 of 13

Exhibit 1

SECURITIES AND EXCHANGE COMMISSION

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.1

1.   March 4, 2014

Date of Report (Date of earliest event reported)

2.   SEC Identification Number PW-55

3.   BIR Tax Identification No. 000-488-793

4.   PHILIPPINE LONG DISTANCE TELEPHONE COMPANY

Exact name of issuer as specified in its charter

             
  5.    
PHILIPPINES6.       (SEC Use Only)
 
        Province, country or other jurisdictionIndustry Classification Code
       
of Incorporation
 
  7.    
Ramon Cojuangco Building, Makati Avenue, Makati City
Address of principal office
  1200
Postal Code
       
 
   

8. (632) 816-8405

Issuer’s telephone number, including area code

9. Not Applicable

Former name or former address, if changed since last report

10.   Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act

     
Title of Each Class  
Number of Shares of Common Stock
Outstanding and Amount of Debt Outstanding

     
     
     

Page 4 of 13

5

Exhibit 1

pressrelease

2013 CORE NET INCOME AT P38.7 BILLION, HIGHER BY P1.8 BILLION OR 5%

FINAL AND SPECIAL DIVIDENDS TOTALLING P116 PER SHARE DECLARED, BRINGING TOTAL DIVIDEND PAYOUT
TO 100% OF CORE INCOME

FOR 7TH CONSECUTIVE YEAR

CONSOLIDATED SERVICE REVENUES OF P164.1 BILLION, 3% HIGHER

CONSOLIDATED EBITDA UP P2.2 BILLION OR 3% TO P77.6 BILLION
FREE CASH FLOW HIGHER BY P4.4 BILLION TO P42 BILLION

CELLULAR SUBSCRIBER BASE AT 70.0 MILLION,
TOTAL BROADBAND SUBSCRIBERS AT 3.4 MILLION

TOTAL CAPEX OF P28.8 BILLION OR 18% OF SERVICE REVENUES, LOWER BY P7.6 BILLION FROM P36.4
BILLION IN 2012

2014 CAPEX OF P31-P32 BILLION, TO REMAIN
BELOW 20% OF SERVICE REVENUES

  Consolidated Core Net Income of P38.7 billion for 2013, 5% or P1.8 billion higher than P36.9 billion in 2012

  Final and special dividends of P62 and P54, respectively, per share declared; total dividend payout for 2013 equivalent to 100% of Core Net Income

  Consolidated service revenues increased by 3% to P164.1 billion

  Consolidated EBITDA higher by 3% at P77.6 billion; consolidated EBITDA margin steady at 47% of service revenues

  Consolidated free cash flow grew by P4.4 billion to P42 billion for 2013

  Cellular subscriber base at 70 million

  Total broadband subscribers at 3.4 million; aggregate revenue contribution from broadband, data and internet services at P35.4 billion for 2013, 16% higher than last year

  Data revenues for fixed line now exceed revenues from fixed legacy; for cellular, now at 12% of total wireless service revenues

  Total capex of P28.8 billion or 18% of service revenues, lower by P7.6 billion from P36.4 billion in 2012

  2014 capex of P31-P32 billion, to remain below 20% of service revenues

MANILA, Philippines, 4th March 2014 –– Philippine Long Distance Telephone Company (“PLDT”) (PSE: TEL) (NYSE: PHI) today announced its audited financial and operating results for 2013 with Consolidated Core Net Income, before exceptional items, amounting to P38.7 billion, 5% or P1.8 billion higher than the P36.9 billion recorded in 2012. The increase was due mainly to higher service revenues and higher EBITDA.

Page 5 of 13

Reported Net Income, after reflecting exceptional transactions for the period, was down 2% to P35.4 billion, from P36.1 billion in 2012, as a result of higher foreign exchange and derivative losses, the retroactive effect of the application of Revised Philippine Accounting Standard 19, as well as estimated losses from Typhoon Yolanda of P900 million before any recoveries from insurance.

EBITDA margin for the period was at 47%, the same level as the previous year. Consolidated EBITDA for 2013 was 3% higher at P77.6 billion compared with 2012.

Consolidated service revenues for 2013 grew 3% to P164.1 billion, as revenues from the data and internet business more than offset the declines from international and national long distance streams.

Earlier today, the Company’s Board of Directors declared a final regular dividend of P62 per share as well as a special dividend of P54 per share. This brings the 2013 total dividend payout to P179 per share, equivalent to 100% of Core Income.

“For seven consecutive years, we have maintained our dividend payout of 100% of our core earnings, which is unprecedented. This sustained level of return speaks well of our ability to generate strong free cash flows without impinging on our ability to continually support the capital expenditures necessary to improve and support our businesses,” stated Manuel V. Pangilinan, PLDT Chairman.

Consolidated free cash flow remained robust at P42 billion, higher by P4.4 billion year-on-year. Consolidated capital expenditures for the period amounted to P28.8 billion as the PLDT Group continues to fortify its network despite having completed its two-year network transformation program ahead of schedule in 2012. At the end of 2013, PLDT’s total fiber footprint stood at more than 78,000 kilometers. Capital expenditures for 2014 are projected to be in the range of P31 — P32 billion in order to support wider coverage, particularly of 3G and LTE, further expansion of the fiber optic network and international cable systems as well as investments in additional service delivery platforms and network intelligence.

The Group’s consolidated net debt stood at US$1.6 billion as at 31st December 2013. Gross debt amounted to US$2.4billion. Net debt to EBITDA was at 0.93x. The Company’s debt maturities continue to be well spread out, with over 60% due in and after 2017. The percentage of US dollar-denominated debt to the Group’s total debt portfolio is at 57%. Taking into account our peso borrowings, our hedges and our US dollar cash holdings, only 41% of total debt remains unhedged. In January 2014, PLDT issued P15 billion of retail bonds. The P12.4 billion of seven-year bonds carry a coupon rate of 5.225% while the P2.6 billion of 10-year bonds are at 5.2813%. The bonds are listed on the Philippine Dealing and Exchange Corporation. The Group’s cash and short-term securities are invested primarily in bank placements and Government securities. PLDT was the first Philippine company to be rated “investment grade” by all three major international ratings agencies.

“2013 was characterized by a structural shift in our revenue mix. Our “growing” revenues, or those from our data businesses which amounted to P35.4 billion, are now larger than those from our legacy businesses and make up 22% of total service revenues versus 19% in 2012. The “steady” revenues meanwhile, or those from our SMS, domestic voice, LEC and satellite services, remained stable at P101.8 billion and still constitute the core of our total revenues at

Page 6 of 13

62%. Finally, “declining” revenues relate to those of our legacy businesses like NLD, fixed international and cellular international voice. These legacy businesses generated revenues of P26.9 billion which now represents only 16% of our total revenue base. We expect this ongoing
transition to temper consolidated revenue growth and EBITDA margins in the near term,“ explained Napoleon L. Nazareno, President and CEO of PLDT and Smart.

Cellular

Wireless subsidiaries Smart Communications, Inc. (“Smart”) and Digitel Mobile (“Digitel”) together continue to lead the industry in terms of both revenues and subscribers. Wireless service revenues rose 3% to P116.7 billion for 2013, compared with the P113.8 billion recognized last year, reflecting the continued growth of non-SMS data and the growth in cellular voice revenues.

The PLDT Group’s total cellular subscriber base as at 31st December 2013 was 70 million subscribers, broken down as follows: Smart had 25.5 million subscribers under its mainstream Smart brands; value brand Talk ‘N Text ended with 29.5 million subscribers; and there were 15.1 million Sun Cellular subscribers.

The Group’s combined postpaid cellular subscriber base grew by nearly 123,000 for the year, and stood at 2.4 million at the end of the year, inclusive of Sun Cellular’s 1.5 million postpaid customer count.

Broadband

Total broadband, data and internet revenues for 2013 totaled P35.4 billion, a 16% growth year-on-year; broadband and internet now account for 22% of total group service revenues. Wireless broadband revenues, exclusive of mobile internet revenues, increased by 10% to P9.3 billion, compared with the P8.5 billion recorded last year. Moreover, mobile internet usage continues to grow strongly, with mobile internet revenues increasing by 59%, from P3.1 billion at the end of 2012 to P5.0 billion at the end of 2013.

PLDT Group fixed broadband businesses generated P12.3 billion in revenues for 2013, up 10% from P11.2 billion in the same period in 2012.

The Group’s combined broadband subscriber base was 3.4 million at the end of 2013. Smart Broadband, Smart’s wireless broadband service offered through its wholly-owned subsidiary Smart Broadband, Inc., had a wireless broadband subscriber base of over 1.9 million at the end of the period, about 1.4 million of whom were on Smart Broadband’s prepaid service. In addition, Sun Cellular had a wireless broadband subscriber base of about 545,000. Meanwhile, PLDT’s fixed broadband subscribers increased by 8% for 2013, bringing the total fixed broadband subscriber base to 962,000, representing 47% of the fixed line subscriber base.

“We believe that we have only scratched the surface when it comes to data — smartphone penetration is at 15% of our subscriber base and this can only grow further with the wide range of handset models projected to enter the market this year. Moreover, we have a slew of products and services in the pipeline, some developed in-house and others in partnership

Page 7 of 13

with OTTs, that will encourage subscribers to leave their data “always on” without fear of overspending or overbilling,” said Orlando B. Vea, Smart Chief Wireless Adviser.

Fixed Line

Fixed line service revenues for 2013, net of interconnection costs, increased to P53.7 billion, or 4%, from P51.4 billion in 2012. PLDT data and fixed broadband revenues, representing 51% of total fixed line revenues, continued to grow on the back of a 9% increase in fixed broadband revenues, a 6% rise in corporate data and other network services, and a 61% increase in data center revenues. Combined ILD and NLD businesses of PLDT, representing 15% of fixed line revenues, declined by 5%. LEC revenues which account for 30% of total fixed line revenues were stable at P16.3 billion.

The fixed line subscriber base remained at 2.1 million at the end of 2013.

“Revenues from our growing data businesses are now larger than those from our legacy services. While this development bodes well for revenue growth, there will be a short-term dampening impact on EBITDA. PLDT’s legacy revenues still account for a greater portion of total revenues relative to other local and regional operators,” declared Nazareno.

Conclusion

“I am pleased to note that PLDT has turned the corner and is back on the growth track as demonstrated by the marked improvement in our 2013 numbers and early indications from the first two months of 2014. I fully expect our 2013 performance to be the springboard for continued growth. Accordingly, our guidance number for Core Net Income in 2014 is P39.5 billion,” concluded Pangilinan.

Page 8 of 13

6

Page 9 of 13

7

PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in million pesos)

                         
    December 31,   January 1,
    2013   2012   2012
            (As Adjusted)
ASSETS
 
Noncurrent Assets
                       
Property, plant and equipment
    192,665       200,078       200,142  
Investments in associates, joint ventures and deposits
    41,310       27,077       17,865  
Available-for-sale financial investments
    220       5,651       7,181  
Investment in debt securities and other long-term investments – net of current portion
    2,643       205       150  
Investment properties
    1,222       712       1,115  
Goodwill and intangible assets
    73,918       74,250       83,303  
Deferred income tax assets – net
    14,181       7,225       5,117  
Derivative financial assets
    24              
Prepayments – net of current portion
    3,031       4,500       11,697  
Advances and other noncurrent assets – net of current portion
    2,761       1,376       1,340  
 
                       
Total Noncurrent Assets
    331,975       321,074       327,910  
 
                       
Current Assets
                       
Cash and cash equivalents
    31,905       37,161       46,057  
Short-term investments
    718       574       558  
Trade and other receivables
    17,564       16,379       16,245  
Inventories and supplies
    3,164       3,467       3,827  
Derivative financial assets
    10             366  
Current portion of investment in debt securities and other long-term investments
          150       358  
Current portion of prepayments
    6,054       5,144       6,345  
Current portion of advances and other noncurrent assets
    8,248       8,116       126  
 
                       
 
    67,663       70,991       73,882  
Assets classified as held-for-sale
          13,750        
 
                       
Total Current Assets
    67,663       84,741       73,882  
 
                       
TOTAL ASSETS
    399,638       405,815       401,792  
 
                       
EQUITY AND LIABILITIES
 
Equity
                       
Non-voting serial preferred stock
    360       360       4,419  
Voting preferred stock
    150       150        
Common stock
    1,093       1,093       1,085  
Treasury stock
    (6,505 )     (6,505 )     (6,505 )
Capital in excess of par value
    130,562       130,566       127,246  
Retained earnings
    22,968       25,416       26,160  
Other comprehensive income
    (11,481 )     (3,387 )     1,455  
Reserves of a disposal group classified as held-for-sale
          (2,143 )      
 
                       
Total Equity Attributable to Equity Holders of PLDT
    137,147       145,550       153,860  
Noncontrolling interests
    179       184       386  
 
                       
TOTAL EQUITY
    137,326       145,734       154,246  
 
                       

Page 10 of 13

PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (continued)
(in million pesos)

                         
    December 31,   January 1,
    2013   2012   2012
            (As Adjusted)
Noncurrent Liabilities
                       
Interest-bearing financial liabilities – net of current portion
    88,930       102,821       91,280  
Deferred income tax liabilities – net
    4,437       5,713       7,078  
Derivative financial liabilities
    1,869       2,802       2,235  
Customers’ deposits
    2,545       2,529       2,272  
Pension and other employee benefits
    13,439       1,982       552  
Deferred credits and other noncurrent liabilities
    22,045       21,950       22,642  
 
                       
Total Noncurrent Liabilities
    133,265       137,797       126,059  
 
                       
Current Liabilities
                       
Accounts payable
    34,882       30,451       29,554  
Accrued expenses and other current liabilities
    74,256       71,624       58,271  
Current portion of interest-bearing financial liabilities
    15,171       12,989       26,009  
Provision for claims and assessments
    897       1,555       1,555  
Dividends payable
    932       827       2,583  
Derivative financial liabilities
    105       418       924  
Income tax payable
    2,804       1,809       2,591  
 
                       
 
    129,047       119,673       121,487  
Liabilities directly associated with assets classified as held-for-sale
          2,611        
 
                       
Total Current Liabilities
    129,047       122,284       121,487  
 
                       
TOTAL LIABILITIES
    262,312       260,081       247,546  
 
                       
TOTAL EQUITY AND LIABILITIES
    399,638       405,815       401,792  
 
                       

Page 11 of 13

PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS
For the Years Ended December 31, 2013, 2012 and 2011
(in million pesos, except earnings per common share amounts which are in pesos)

                         
    2013   2012   2011
            (As Adjusted)
REVENUES
                       
Service revenues
    164,052       159,738       145,834  
Non-service revenues
    4,279       3,295       2,645  
 
                       
 
    168,331       163,033       148,479  
 
                       
EXPENSES
                       
Depreciation and amortization
    30,304       32,354       27,539  
Compensation and employee benefits
    21,369       21,999       15,411  
Repairs and maintenance
    13,107       12,604       10,053  
Cost of sales
    11,806       8,747       5,443  
Interconnection costs
    10,610       11,105       12,586  
Selling and promotions
    9,776       9,708       7,807  
Professional and other contracted services
    6,375       5,361       5,143  
Rent
    6,041       5,860       3,938  
Asset impairment
    5,543       5,286       10,200  
Taxes and licenses
    3,925       3,506       3,554  
Communication, training and travel
    2,215       2,042       1,645  
Insurance and security services
    1,815       1,564       1,326  
Amortization of intangible assets
    1,020       921       117  
Other expenses
    1,609       1,472       1,662  
 
                       
 
    125,515       122,529       106,424  
 
                       
 
    42,816       40,504       42,055  
 
                       
OTHER INCOME (EXPENSES)
                       
Equity share in net earnings of associates and joint ventures
    2,742       1,538       2,035  
Interest income
    932       1,354       1,357  
Gains (losses) on derivative financial instruments – net
    511       (2,009 )     201  
Foreign exchange gains (losses) – net
    (2,893 )     3,282       (735 )
Financing costs – net
    (6,589 )     (6,876 )     (6,454 )
Other income
    4,113       5,813       2,626  
 
                       
 
    (1,184 )     3,102       (970 )
 
                       
INCOME BEFORE INCOME TAX FROM CONTINUING OPERATIONS
    41,632       43,606       41,085  
PROVISION FOR INCOME TAX
    8,248       8,050       10,734  
 
                       
NET INCOME FROM CONTINUING OPERATIONS
    33,384       35,556       30,351  
NET INCOME FROM DISCONTINUED OPERATIONS
    2,069       543       867  
 
                       
NET INCOME
    35,453       36,099       31,218  
 
                       
ATTRIBUTABLE TO:
                       
Equity holders of PLDT
    35,420       36,148       31,278  
Noncontrolling interests
    33       (49 )     (60 )
 
                       
 
    35,453       36,099       31,218  
 
                       
Earnings Per Share Attributable to Common Equity Holders of PLDT
                       
Basic
    163.67       167.07       161.05  
Diluted
    163.67       167.07       160.91  
 
                       
Earnings Per Share from Continuing Operations Attributable to Common Equity Holders of PLDT
                       
Basic
    154.09       164.55       156.52  
Diluted
    154.09       164.55       156.39  
 
                       

Page 12 of 13

This press release may contain some statements which constitute “forward-looking statements” that are subject to a number of risks and uncertainties that could affect PLDT’s business and results of operations. Although PLDT believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.

For further information, please contact:

         
Anabelle L. Chua
Tel No: 816-8213
Fax No: 844-9099
  Melissa V. Vergel de Dios
Tel No: 816-8024
Fax No: 810-7138
  Ramon R. Isberto
Tel No: 511-3101
Fax No: 893-5174

About PLDT

PLDT is the leading telecommunications provider in the Philippines. Through its principal business groups – fixed line and wireless– PLDT offers a wide range of telecommunications services across the Philippines’ most extensive fiber optic backbone and fixed line, and cellular network.

PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American Depositary Shares are listed on the New York Stock Exchange (NYSE:PHI). PLDT has one of the largest market capitalizations among Philippine listed companies.

Further information can be obtained by visiting the web at www.pldt.com.

Page 13 of 13

Exhibit 2

March 4, 2014

Philippine Stock Exchange
3/F Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue
Makati City

Attention: Ms. Janet A. Encarnacion

Head, Disclosure Department

Gentlemen:

In compliance with Section 17.1 (b) and Section 17.3 of the Securities Regulation Code, we submit herewith a copy of SEC Form 17-C with respect to certain discloseable events/information.

This shall also serve as the disclosure letter for the purpose of complying with the PSE Revised Disclosure Rules.

Very truly yours,

    /s/Ma. Lourdes C. Rausa-Chan—

MA. LOURDES C. RAUSA-CHAN
Corporate Secretary

Page 1 of 6

8

Exhibit 2

March 4, 2014

SECURITIES & EXCHANGE COMMISSION
SEC Building, EDSA
Mandaluyong City

Attention: Atty. Justina Callangan

Acting Director – Corporate Governance and Finance Department

Gentlemen:

In accordance with Section 17.1 (b) of the Securities Regulation Code, we submit herewith two (2) copies of SEC Form 17-C with respect to certain discloseable events/information.

Very truly yours,

/s/Ma. Lourdes C. Rausa-Chan—
MA. LOURDES C. RAUSA-CHAN
Corporate Secretary

Page 2 of 6

9

Exhibit 2

COVER SHEET

                         
P
  W   -     5       5  
 
                       
SEC Registration No.
       
 
                                                                                     
P
  H   I   L   I   P   P   I   N   E   L   O   N   G   D   I   S   T   A   N   C   E
 
                                                                                   
                                                             
T
  E   L   E   P   H   O   N   E   C   O   M   P   A   N   Y
 
                                                           

(Company’s Full Name)

                                                                                     
R
  A   M   O   N   C   O   J   U   A   N   G   C   O   B   U   I   L   D   I   N   G
 
                                                                                   
                                                                         
M
  A   K   A   T   I   A   V   E.   M   A   K   A   T   I   C   I   T   Y
 
                                                                       

(Business Address: No. Street/City/Town/Province)

     
ATTY. MA. LOURDES C. RAUSA-CHAN   816-8553
Contact person
  Contact Telephone No.
                                 
                                Every 2nd
1   2   3   1   SEC FORM 17-C   0   6   Tuesday
Month           Day   FORM TYPE   Month       Day
    Fiscal Year           Annual Meeting    
             
C   F   D   N/A
Dept. Requiring this Doc.   Amended Articles
           
Number/Section
         
    Total Amount of Borrowings
11,993
As of January 31, 2014
 

NA
 
NA
   
 
   
Total No. of Stockholders  
Domestic
  Foreign

To be accomplished by SEC Personnel concerned

         
______________________________
   
File Number
      LCU
         
______________________________
Document I.D.
      Cashier

STAMPS

Remarks: Please use black ink for scanning purposes

Page 3 of 6

10

Exhibit 2

SECURITIES AND EXCHANGE COMMISSION

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.1

1.   March 4, 2014

Date of Report (Date of earliest event reported)

2.   SEC Identification Number PW-55

3.   BIR Tax Identification No. 000-488-793

4.   PHILIPPINE LONG DISTANCE TELEPHONE COMPANY

Exact name of issuer as specified in its charter

             
  5.    
PHILIPPINES6.       (SEC Use Only)
 
        Province, country or other jurisdictionIndustry Classification Code
       
of Incorporation
 
  7.    
Ramon Cojuangco Building, Makati Avenue, Makati City
Address of principal office
  1200
Postal Code

8. (632) 816-8553

Issuer’s telephone number, including area code

9. Not Applicable

Former name or former address, if changed since last report

10.   Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act

     
Title of Each Class  
Number of Shares of Common Stock
Outstanding and Amount of Debt Outstanding

Page 4 of 6

11

Exhibit 2

11.   Item 9 (Other Events)

We disclose that at the meeting of the Board of Directors of Philippine Long Distance Telephone Company (respectively, the “Board” and the “Company”) held on March 4, 2014:

1.   The Board approved or confirmed the following items in connection with the Annual Meeting of Stockholders for 2014:

  (a)   The Annual Meeting of Stockholders of the Company will be held on June 10, 2014 at 4:00 o’clock p.m. in Makati City, Philippines (the “Annual Meeting”). Per the By-Laws of the Company, the annual meeting of stockholders shall be held on the second Tuesday in June.

  (b)   The record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting is April 11, 2014. The stock and transfer books of the Company will not be closed.

  (c)   The last day for filing proxies in connection with the Annual Meeting is on June 3, 2014.

  (d)   The validation of proxies in connection with the Annual Meeting will be done on June 5, 2014.

  (e)   In accordance with the Company’s By-Laws, the nominations for election of directors/independent directors at the Annual Meeting shall be submitted to the Board of Directors through the President or Corporate Secretary at the Company’s principal place of business at least sixty (60) working days before the meeting or by March 12, 2014.

The notice, agenda and other materials required to be distributed to the stockholders in connection with the Annual Meeting will be submitted to the Securities and Exchange Commission and the Philippine Stock Exchange in accordance with the applicable rules.

2.   The Board declared the following cash dividends out of the audited unrestricted retained earnings of the Company as at December 31, 2013, which are sufficient to cover the total amount of dividends declared:

  a.   Final regular dividend of ?62.00 per outstanding share of the Company’s Common Stock, payable on April 16, 2014 to the holders of record on March 18, 2014.

  b.   Special dividend of ?54.00 per outstanding share of the Company’s Common Stock, payable on April 16, 2014 to the holders of record on March 18, 2014.

  c.   2,437,500.00 on all of the outstanding shares of Voting Preferred Stock of the Company for the quarter ending April 15, 2014, payable on April 15, 2014, to the holder of record on March 20, 2014.

Page 5 of 6

Exhibit 2

Pursuant to the requirements of the Securities Regulation Code, PLDT has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

     
   
PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
     
By:
 
/s/Ma. Lourdes C. Raus
  a-Chan—
 
   
MA. LOURDES C. RAUSA-C
Corporate Secretary
  HAN

March 4, 2014

Page 6 of 6

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
PHILIPPINE LONG DISTANCE
TELEPHONE COMPANY
By : /s/Ma. Lourdes C. Rausa-Chan—
 
Name : Ma. Lourdes C. Rausa-Chan
Title : Senior Vice President, Corporate
Affairs and Legal Services Head
and Corporate Secretary

Date: March 4, 2014

12