Solar Philippines Nueva Ecija : Update on Corporate Actions/Material Transactions/Agreements
July 20, 2022 at 02:14 am 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 20, 20222. SEC Identification Number CS2016273003. BIR Tax Identification No. 009-468-1034. Exact name of issuer as specified in its charter Solar Philippines Nueva Ecija Corporation5. Province, country or other jurisdiction of incorporation Metro Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 20th Floor PhilamLife Tower, 8767 Paseo de Roxas, Barangay Bel-Air, Makati City, PhilippinesPostal Code12268. Issuer's telephone number, including area code 02) 8817-25859. 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
8,124,350,005
11. Indicate the item numbers reported herein Item 9
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.
Solar Philippines Nueva Ecija CorporationSPNEC
PSE Disclosure Form 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules
Subject of the Disclosure
Stock Rights Offering (SRO) of Solar Philippines Nueva Ecija Corporation (SPNEC)
Background/Description of the Disclosure
On July 19, 2022, the Securities and Exchange Commission (SEC) confirmed that SPNEC's planned SRO is exempt from registration requirements under the Securities Regulation Code (Confirmation of Exempt Transaction).
This Confirmation of Exempt Transaction was issued in connection with SPNEC's filing with the SEC on April 8, 2022 of an application for Confirmation of Exempt Transaction for its SRO.
As provided in the SRO prospectus as of July 11, 2022 (https://solarnuevaecija.ph/investor-relations/company-prospectus-list/sro-prospectus/), shares will be offered to SPNEC's existing stockholders in proportion to their shares held as of the planned Record Date of August 25, 2022, with the Ex-Date planned to be on August 22, 2022, or three trading days before the Record Date, subject to PSE approval.
Proceeds of this SRO would be allocated towards project development (including securing land and off-take agreements), in support of SPNEC's goal of developing 10 GW of solar projects by 2025.
Other Relevant Information
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Filed on behalf by:
Name
Aresty Lapitan
Designation
Head of Controllership
Attachments
Original Link
Original Document
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Disclaimer
Solar Philippines Nueva Ecija Corporation published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2022 06:13:00 UTC.
SP New Energy Corporation is a Philippines-based company, which primarily constructs, erects, assembles, commissions, operates and maintains power-generating plants, installations, shops, laboratories, pipelines, repair shops, electrical works, powerhouses, warehouses, terminals and related facilities for the conversion of renewable energy into usable form fit for electricity generation and distribution. The Company also promotes and undertakes research, development, utilization, manufacture, sale, marketing, distribution and commercial application of new, renewable, non-conventional and environment friendly energy sources and systems and of energy systems that use new, renewable and any energy resource applying energy conversion and/or utilization technologies for commercial application, and to perform other ancillary and incidental activities as may be provided by and under contract with the government of the Republic of the Philippines or any subdivision, instrumentality and others.
SP NEW ENERGY CORPORATION 
