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 28, 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 7,507,274,922 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 4-26 - Legal Proceedings References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
|---|
Resolution of the DENR-EMB on Notice of Violation No. 20-NOVW-0630-164 issued to Power Barge 102 ("PB 102") owned by AC Energy Philippines, Inc. in relation to the oil spill incident of July 3, 2020 |
| Background/Description of the Disclosure |
The Company received today, 28 July 2020, a Resolution dated 27 July 2020 (the "Resolution") issued by the Department of Environment and Natural Resources- Environmental Management Bureau (“DENR-EMB”) Region VI, in relation to Notice of Violation No. 20-NOVW-0630-164 (the “Notice”), resolving to submit the case to the Pollution Adjudication Board for determination of the imposable fines under Section 27(a) of Republic Act (RA) No. 9275 (Clean Water Act of 2004) and Section 4 of Presidential Decree (PD) 979 (Marine Pollution Decree of 1976). |
| Name of the court or agency in which the proceedings are pending | Department of Environment and Natural Resources, Environmental Management Bureau, Region VI |
|---|---|
| Date Instituted | Jul 6, 2020 |
| Docket Number | Reference No. 20-NOVW-0630-164 |
| Principal Parties |
|---|
AC Energy Philippines, Inc., as owner of PB 102 located in Barrio Obrero, Lapuz, Iloilo City. |
| Nature and description of the legal proceedings |
The DENR-EMB Region VI issued the Notice to the Company for possible violation of Section 27(a) of DENR Administrative Order 2005-10, the Implementing Rules and Regulations of the Philippine Clean Water Act of 2004 (Republic Act No. 9275), in connection with the oil spill involving PB 102 which occurred on July 3, 2020. |
| The effect(s) on the Issuer's business or operations, if any |
Possible payment of fines to be determined by the Pollution Adjudication Board, in the range of (1) Php10,000 to Php200,000 per day from the time of the incident (July 3, 2020) until full recovery of the discharged fuel (July 13, 2020), for alleged violation of RA 9275; and (2) Php50,000 to Php1,000,000 or imprisonment of not less than one (1) year but not more than six (6) years, or both, for alleged violation of Section 4 of PD 979. |
| Other Relevant Information |
- |
| Name | Alan Ascalon |
|---|---|
| Designation | Vice President/ Asst. Corporate Secretary |