AC Energy : Amendments to Articles of Incorporation
July 21, 2022 at 11:14 pm EDT
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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 21, 20222. SEC Identification Number 392743. BIR Tax Identification No. 000-506-020-0004. Exact name of issuer as specified in its charter ACEN CORPORATION5. Province, country or other jurisdiction of incorporation Makati City, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 35th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati CityPostal Code12268. Issuer's telephone number, including area code (02) 7730 63009. Former name or former address, if changed since last report N/A10. 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
39,644,772,107
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 CorporationACEN
PSE Disclosure Form 4-3 - Amendments to Articles of Incorporation References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Amendments to Articles of Incorporation
Background/Description of the Disclosure
Please be informed that the Securities and Exchange Commission approved on 20 July 2022 the proposed amendments to the Company's Articles of Incorporation (the "Amendments").
The Amendments were approved by the Board of Directors ("Board") at its regular meeting held on 11 November 2021, as endorsed by our Corporate Governance and Nomination Committee.
The Amendments pertain to (1) change in the corporate name of the Company to "ACEN CORPORATION", (2) removal of oil exploration, mining, and related activities from the Primary Purpose and Secondary Purposes, and specification of retail electricity supply and provision of guarantees, and (3) change in the principal office of the Corporation.
The Amendments were presented for stockholders' approval at the 15 December 2021 special stockholders meeting. Stockholders representing at least 2/3 of the outstanding capital stock of the Company voted to approve the Amendments.
The Company's Amended Articles of Incorporation is effective 20 July 2022.
Date of Approval by
Board of Directors
Nov 11, 2021
Date of Approval by Stockholders
Dec 15, 2021
Other Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Securities and Exchange Commission
Jul 20, 2022
Date of Receipt of SEC approval
Jul 21, 2022
Amendment(s)
Article No.
From
To
Please see attached Annex A for the summary of the approved changes
-
-
Rationale for the amendment(s)
The change in the principal office is to reflect the Company's move to a new office.
The changes to the Primary Purpose and Secondary Purposes are intended to remove the activities that place the Company's business under the purview of the Philippine foreign investment negative list, given that Company does not have operations in oil exploration, mining and related activities, and to specify the Company's authority to provide guarantees in furtherance of its business.
The timetable for the effectivity of the amendment(s)
Expected date of filing the amendments to the Articles of Incorporation with the SEC
Jul 12, 2022
Expected date of SEC approval of the Amended Articles of Incorporation
Jul 20, 2022
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any
Foreign equity participation in the Company's business may be increased.
Other Relevant Information
This disclosure is amended today, 21 July 2022, to reflect the SEC's approval of the Amended Articles of Incorporation.
Filed on behalf by:
Name
Solomon Hermosura
Designation
Corporate Secretary
Attachments
Original Link
Original Document
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Disclaimer
AC Energy Corporation published this content on 22 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2022 03:13:05 UTC.
ACEN Corporation is a Philippines-based company, which is engaged in power generation and trading, oil and mineral exploration, development and production. It organized into three business units. Philippines business unit includes Retail Electricity Supply (RES) or Commercial Operations (CO); Renewables, which is engaged in generation, transmission, distribution and supply of electricity using renewable sources, such as solar, wind and geothermal resources; Thermal, which is engaged in generation, transmission, distribution and supply of electricity using conventional way of energy generation; Project development; Leasing; bulk water supply; and Petroleum and exploration. International business unit represents the operations of ACRI, which is the holding company for all offshore investments. Parent and Others business unit represents operations of the Parent Company (excluding RES/CO) and ACE Shared Services, Inc. This also includes interest expense incurred by ACEN Finance Limited.
ACEN CORPORATION 
