SECURITIES AND EXCHANGE COMMISSION
SEC 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)
- Jun 25, 2026
- 2. SEC Identification Number
- A200110402
- 3. BIR Tax Identification No.
- 213-054-503-000
- 4. Exact name of issuer as specified in its charter
- SBS PHILIPPINES CORPORATION
- 5. Province, country or other jurisdiction of incorporation
- PHILIPPINES
- 6. Industry Classification Code(SEC Use Only)
- 7. Address of principal office
- NO. 10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105
- 8. Issuer's telephone number, including area code
- 02 8371-1111
- 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 1,890,999,999 - 11. Indicate the item numbers reported herein
- Item 9: Other Events
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.
SBS Philippines CorporationSBS
PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
|---|
SALE OF A CAPITAL ASSET |
| Background/Description of the Disclosure |
SBS Philippines Corporation (the “Company”) agrees to sell its 49,966 sqm agricultural lot located in Barangay Makabaklay, Gapan City, Nueva Ecija (the “Property”) to Terra Nueva. Inc. (TNI), an affiliate of the Meralco PowerGen Corporation. |
| Date of Approval by Board of Directors |
Jun 18, 2026 |
|---|
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction | |
|---|---|
The transaction is part of the portfolio realignment of the Company to divest on non-core assets, with the sales proceeds to be channeled for working capital and value-enhancing ventures on core business segments. |
| Date | Jun 25, 2026 |
|---|
| Description of the Transaction |
|---|
The transaction involves the conditional sale of the Company’s 49,966 square meters investment property/agricultural lot located in Gapan City, Nueva Ecija (the "Property") to Terra Nueva Inc., a member of the Meralco PowerGen Corp. (MGen) Group subject to the clearance and approval of the Department of Agrarian Reform and other government agencies. |
| Manner |
The transaction is by way of a conditional sale and with the closing to take place after approval of the Department of Agrarian Reform (DAR) of the land use conversion. |
| Description of the assets involved |
The Property is an agricultural lot, having a total area of 49,966 square meters and located at Barangay Makabaklay, Gapan City, Nueva Ecija. The Property is a non-core asset of the Company and is held primarily for investment and capital growth. |
| Nature and amount of consideration given or received |
|---|
The Property will be sold for a consideration of PhP 24,983,000.00 in cash, payable on lump sum basis upon signing of the Contract to Sell. |
| Principle followed in determining the amount of consideration |
The consideration was arrived at on a negotiated basis, taking into account the indicative market value of the Property based on independent sources. The Company did not commission a separate valuation of the Property for purposes of the sale. |
| Terms of payment |
The consideration is payable in cash upon signing of the Contract to Sell and grant of permit to enter the Property to conduct surveys, geotechnical investigations, and development work as and when specifically allowed by the relevant government agencies. |
| Conditions precedent to closing of the transaction, if any |
As a condition precedent to the closing and consummation of the sale transaction and the transfer of all rights, interests, and title to the Property to TNI, all necessary clearances and approvals from the Department of Agrarian Reform and other government agencies must have been obtained. |
| Any other salient terms |
none |
| Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates | |
|---|---|---|
| Terra Nueva Inc | TNI is not related to the Company and none of their directors, officers and affiliates are related to the Company nor any of its directors and officers. Neither do any director, officer or controlling shareholder of the Company have an interest, direct or indirect, in the sale, other than by being such a director, officer or controlling shareholder of the Company |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
|---|
The sale will allow for value realization of the Property and strengthen the working capital, cash and capital position of the Company. |
| Other Relevant Information |
None |
| Source(s) of funds |
|---|
Not Applicable |
| If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes |
Not Applicable |
| Name | MONINA JANE NAZAL |
|---|---|
| Designation | CORPORATE INFORMATION OFFICER |