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) Mar 22, 20222. SEC Identification Number 392743. BIR Tax Identification No. 000-506-020-0004. Exact name of issuer as specified in its charter AC Energy 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 Shares
38,315,838,177
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 4-30 - 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
Subscription by UPC Philippines Group to Shares in the Company
Background/Description of the Disclosure
Please be advised that on 22 March 2022, the Company signed Subscription Agreements with the following entities for the following number of shares in the Company at a price of Php 8.2889 per share:
1. UPC Philippines Wind Partners Ltd. - 19,059,423
2. Wind City Inc. - 142,668,634
3. Estanyol Holdings Ltd. - 153,493,200
4. Tenggay Holdings Ltd. - 70,525,763
5. Alan Kerr - 4,248,813 (collectively, the "UPC Philippines Group")
Other Relevant Information
The transaction was approved by the Board of Directors of the Company on 18 October 2021. The issuance and listing of the ACEN common shares were approved by the Company's stockholders on 15 December 2021. On 8 March 2022, the Board of Directors approved a revised list of subscribers constituting the UPC Philippines Group, including a re-allocation of some of the shares for subscription, which will be presented to the stockholders for approval during the 2022 annual stockholders' meeting of the Company on 25 April 2022.
Pursuant to the agreed adjustment mechanism between the Company and the subscribers, the subscription price was determined taking into account the VWAP for the previous three trading days prior to the submission of the Allocation Notice on 21 March 2022 and the prevailing USD:PHP exchange rate.
Filed on behalf by:
Name
Alan Ascalon
Designation
Vice President/ Asst. Corporate Secretary
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AC Energy Corporation published this content on 23 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 02:13:05 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 
