# EDGAR Filing Document

**Accession Number:** 0000078150
**File Stem:** 0000950170-23-008313
**Filing Date:** 2023-3
**Character Count:** 19501
**Document Hash:** ea38223f916d7ab12cba1287afa401ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-008313.hdr.sgml**: 20230316

**ACCESSION NUMBER**: 0000950170-23-008313

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230316

**FILED AS OF DATE**: 20230316

**DATE AS OF CHANGE**: 20230316

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PLDT Inc.
- **CENTRAL INDEX KEY:** 0000078150
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03006
- **FILM NUMBER:** 23737236

**BUSINESS ADDRESS:**
- **STREET 1:** RAMON CONJUANGCO BLDG
- **STREET 2:** MAKATI AVE
- **CITY:** MAKATI METRO MANILA
- **STATE:** R6
- **ZIP:** 0721
- **BUSINESS PHONE:** 0116328168553

**MAIL ADDRESS:**
- **STREET 1:** RAMON CONJUANGCO BLDG
- **STREET 2:** MAKATI AVE
- **CITY:** MAKATI METRO MANILA
- **STATE:** R6
- **ZIP:** 0721

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHILIPPINE LONG DISTANCE TELEPHONE CO
- **DATE OF NAME CHANGE:** 19940303

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM 6-K** 

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**REPORT OF FOREIGN ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16** 

**OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of March 2023**

**(Commission File No. 1-03006)** 

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**PLDT Inc.**

**(Translation of registrant's name into English)** 

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**Ramon Cojuangco Building**

**Makati Avenue**

**Makati City**

**Philippines**

 **(Address of registrant's principal executive office)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  Form 40-F 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes  No 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes  No 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes  No 

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NOTE REGARDING FORWARD-LOOKING STATEMENTS

Some information in this report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. We have based these forward-looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forward-looking words such as "believe," "plan," "anticipate," "continue," "estimate," "expect," "may," "will" or other similar words.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We have chosen these assumptions or bases in good faith. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in "Item 3. Key Information – Risk Factors" in our annual report on Form 20-F for the fiscal year ended December 31, 2021. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as at the date on which we made it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the statements in this report after the date hereof. In light of these risks and uncertainties, you should keep in mind that actual results may differ materially from any forward-looking statement made in this report or elsewhere.

**EXHIBIT INDEX**

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EXHIBIT NUMBER PAGE

Copies of the disclosure letters that were filed today, March 16, 2023, by PLDT Inc. with the Philippine Securities and Exchange Commission, the Philippine Stock Exchange, Inc., and the Philippine Dealing and Exchange Corporation of PSE Disclosure Form 4-2 in relation to PLDT's proposed acquisition of the broadband business and its related assets of Sky Cable Corporation ("Sky") through the purchase of 100% of Sky's total issued and outstanding capital stock.

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**<u>SIGNATURES</u>** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly authorized and caused this report to be signed on its behalf by the undersigned.

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| | |
|:---|:---|
| PLDT Inc. | PLDT Inc. |
| By: | /s/ Marilyn A. Victorio-Aquino<br>|
| Name: | Marilyn A. Victorio-Aquino |
| Title: | Corporate Secretary |

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Date: March 16, 2023

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## Ex-99

**Exhibit 99.1**

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| | |
|:---|:---|
| **Exhibit No.**  | **Exhibit** |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copies of the disclosure letters that were filed today, March 16, 2023, by PLDT Inc. with the Philippine Securities and Exchange Commission, the Philippine Stock Exchange, Inc., and the Philippine Dealing and Exchange Corporation of PSE Disclosure Form 4-2 in relation to PLDT's proposed acquisition of the broadband business and its related assets of Sky Cable Corporation ("Sky") through the purchase of 100% of Sky's total issued and outstanding capital stock.<br>|

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March 16, 2023

**The Philippine Stock Exchange, Inc.**

6/F Philippine Stock Exchange Tower

28<sup>th</sup> Street corner 5<sup>th</sup> Avenue

Bonifacio Global City, Taguig City

Attention: Ms. Alexandra D. Tom Wong

<u>OIC-Disclosure Department</u>

**Securities & Exchange Commission**

Secretariat Building, PICC Complex

Roxas Boulevard, Pasay City

**Attention: Mr. Vicente Graciano P. Felizmenio, Jr.** 

<u>Director – Markets and Securities Regulation Dept</u>

**Philippine Dealing & Exchange Corporation**

29th Floor, BDO Equitable Tower

8751 Paseo de Roxas, Makati City 1226

Attention: Atty. Marie Rose M. Magallen-Lirio

<u>Head - Issuer Compliance and Disclosure Department</u>

Gentlemen:

In compliance with the PSE's Revised Disclosure Rules, we submit herewith PSE Disclosure Form 4-2 in relation to PLDT's proposed acquisition of the broadband business and its related assets of Sky Cable Corporation ("Sky") through the purchase of 100% of Sky's total issued and outstanding capital stock.

This submission shall also serve as our compliance with Section 17.1 of the Securities Regulation Code regarding the filing of reports on significant developments.

Very truly yours,

<u>/s/Marilyn A. Victorio-Aquino</u>

**Marilyn A. Victorio-Aquino**

Corporate Secretary

PLDT Inc.

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**COVER SHEET**

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| | | | | |
|:---|:---|:---|:---|:---|
| SEC Registration Number | SEC Registration Number | SEC Registration Number | SEC Registration Number | SEC Registration Number |
| **P** | **W** | **-** | **5** | **5** |

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Company Name

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **P** | **L** | **D** | **T** | **I** | **N** | **C.** |

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Principal Office (No./Street/Barangay/City/Town/Province)

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **R** | **A** | **M** | **O** | **N** |  | **C** | **O** | **J** | **U** | **A** | **N** | **G** | **C** | **O** | **B** | **U** | **I** | **L** | **D** | **I** | **N** | **G** |
| **M** | **A** | **K** | **A** | **T** | **I** |  | **A** | **V** | **E** | **N** | **U** | **E** |  |  |  |  |  |  |  |  |  |  |
| **M** | **A** | **K** | **A** | **T** | **I** |  | **C** | **I** | **T** | **Y** |  |  |  |  |  |  |  |  |  |  |  |  |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Form Type | Form Type | Form Type | Form Type | Department requiring the report | Department requiring the report | Department requiring the report | Department requiring the report | Department requiring the report | Secondary License Type, If Applicable |
|  | **17** | **-** | **C** |  | **M** | **S** | **R** | **D** |  |

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**COMPANY INFORMATION**

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| | | |
|:---|:---|:---|
| Company's Email Address | Company's Telephone Number/s | Mobile Number |
| No. of Stockholders | Annual Meeting<br>Month/Day | Fiscal Year<br>Month/Day |
| **11,424**<br>**As of February 28, 2023** | **Every 2nd Tuesday of June** | **December 31** |

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**CONTACT PERSON INFORMATION**<br> The designated contact person **<u>MUST</u>** be an Officer of the Corporation

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| | | | |
|:---|:---|:---|:---|
| Name of Contact Person | Email Address | Telephone Number/s | Mobile Number |
| **Marilyn A. Victorio-Aquino** | mvaquino@pldt.com.ph  | **82500254** |  |
| Contact Person's Address | Contact Person's Address | Contact Person's Address | Contact Person's Address |
| **MGO Building, Legaspi St. corner Dela Rosa St., Makati City** | **MGO Building, Legaspi St. corner Dela Rosa St., Makati City** | **MGO Building, Legaspi St. corner Dela Rosa St., Makati City** | **MGO Building, Legaspi St. corner Dela Rosa St., Makati City** |

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**Note**: In case of death, resignation or cessation of office of the officer designated as contact person, such incident shall be reported to the Commission within thirty (30) calendar days from the occurrence thereof with information and complete contact details of the new contact person designated.

SECURITIES AND EXCHANGE COMMISSION

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATION CODE

AND SRC RULE 17.1

1. March 16, 2023

Date of Report (Date of earliest event reported)

2. SEC Identification Number PW-55

3. BIR Tax Identification No. 000-488-793

4. PLDT Inc.

Exact name of issuer as specified in its charter

5. PHILIPPINES 6.____________ (SEC Use Only)

Province, country or other jurisdiction Industry Classification Code

of Incorporation

7. Ramon Cojuangco Building, Makati Avenue, Makati City 1200

&nbsp;&nbsp;&nbsp;&nbsp;Address of principal office Postal Code

8. (632) 82500254

Issuer's telephone number, including area code

9. Not Applicable

Former name or former address, if changed since last report

10. Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act

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| | |
|:---|:---|
| &nbsp;&nbsp;Title of Each Class | &nbsp;&nbsp;Number of Shares of Common Stock<br>Outstanding and Amount of Debt Outstanding |

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________________________________________________________________

________________________________________________________________

________________________________________________________________

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**PLDT Inc.**

**TEL**

**PLDT Inc.**

**TEL**

**PSE Disclosure Form 4-2 – Acquisition/Disposition of Shares of Another Corporation**

**References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules**

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| |
|:---|
| &nbsp;&nbsp;**Subject of the Disclosure:** |
| &nbsp;&nbsp; <br>PLDT to Acquire Sky's Broadband Business.<br>|
| &nbsp;&nbsp;**Background/Description of the Disclosure:** |
| &nbsp;&nbsp; <br>On March 16, 2023, PLDT Inc. ("PLDT") entered into a Sale and Purchase Agreement with Sky Vision Corporation, ABS-CBN Corporation, and Lopez, Inc. (collectively, the "Sellers"), for the proposed acquisition by PLDT of the broadband business and its related assets of Sky Cable Corporation ("Sky"), through the purchase of 100% of Sky's total issued and outstanding capital stock, for a total purchase price of PhP6.75 billion. <br>The closing of the proposed transaction shall be subject to compliance with certain conditions precedent which include, among others, the termination or cessation of operations by Sky of its pay TV and cable businesses, obtaining all applicable government approvals and clearances, obtaining all required consents and corporate actions, and payment of the Purchase Price.<br>|
| &nbsp;&nbsp;**Date of Approval by Board of Directors:** |
| &nbsp;&nbsp; <br>The Board of Directors of PLDT approved the transaction on March 16, 2023. <br>|
| &nbsp;&nbsp;**Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction:** |
| &nbsp;&nbsp; <br>The proposed transaction is aligned with PLDT's mission to narrow the digital divide by expanding broadband connectivity, and supports the government's push to expand the nation's digital infrastructure. <br>The proposed transaction is expected to benefit the existing broadband subscribers of both PLDT and Sky by: (a) strengthening and expanding the coverage of their offerings and services, particularly in remote areas; and (b) upgrading overall customer  |

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| |
|:---|
| &nbsp;&nbsp;experience through the combined expertise, resources, and capabilities of PLDT and Sky.<br>|
| &nbsp;&nbsp;**Details of the Acquisition:** |
| &nbsp;&nbsp; <br>Please refer to "Background/Description of the Disclosure".<br>|
| &nbsp;&nbsp;**Manner of Acquisition:** |
| &nbsp;&nbsp; <br>Please refer to "Background/Description of the Disclosure".<br>|
| &nbsp;&nbsp;**Description of the company to be acquired:** |
| &nbsp;&nbsp; <br>Sky is a corporation organized and existing under the laws of the Republic of the Philippines, with office address at 6th Floor, Eugenio Lopez Jr. Communications Center, Mother Ignacia St., Quezon City. It is primarily engaged in the business of providing broadband services marketed as "Sky Fiber" and enterprise cable broadband services marketed as "Sky Biz". In addition to broadband business, Sky also provides pay TV and cable services. <br>|
| &nbsp;&nbsp;**Number of shares to be acquired:** |
| &nbsp;&nbsp; <br>The proposed transaction involves the acquisition by PLDT of 100% of Sky's total issued and outstanding capital stock consisting of 1,376,340,854 common shares (the "Sale Shares"). <br>|
| &nbsp;&nbsp;**Percentage to the total outstanding shares of the company subject of the transaction:** |
| &nbsp;&nbsp; <br>Please refer to "Number of shares to be acquired".<br>|
| &nbsp;&nbsp;**Price per share:** |
| &nbsp;&nbsp; <br>The Purchase Price for the acquisition by PLDT of the Sale Shares is PhP6.75 billion or approximately Php4.9043 per share.<br>|
| &nbsp;&nbsp;**Nature and amount of consideration given or received:** |
| &nbsp;&nbsp; <br>Please refer to "Price per share".<br>|
| &nbsp;&nbsp;**Principle followed in determining the amount of consideration:** |
| &nbsp;&nbsp; <br>The Purchase Price is based on the agreed implied equity valuation for the Sale Shares representing 100% of Sky's total issued and outstanding capital stock less recorded  |

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|:---|
| &nbsp;&nbsp;payables and contingent liabilities of Sky as of 31 December 2022, which will be retained from and after closing date (the "Closing Date"), based on the latest Audited Financial Statements of Sky and the due diligence review conducted by PLDT. <br>|
| &nbsp;&nbsp;**Terms of payment:** |
| &nbsp;&nbsp;&nbsp;&nbsp; <br>Subject to the fulfillment of certain conditions precedent, the Purchase Price shall be payable as follows:<br>(a)the amount of PhP6,345,000,000.00, representing 94% of the Purchase Price, subject to any adjustment as provided under the Sale and Purchase Agreement, shall be paid on the Closing Date; and <br>(b)the balance of the Purchase Price in the amount of PhP405,000,000.00, representing 6% of the Purchase Price, subject to any adjustment as provided under the Sale and Purchase Agreement, shall be paid upon delivery of the Certificate Authorizing Registration/Tax Clearance issued by the Bureau of Internal Revenue for the sale and purchase transaction and compliance with other post-closing deliverables. <br>|
| &nbsp;&nbsp;**Conditions precedent to closing of the transaction, if any:** |
| &nbsp;&nbsp; <br>Conditions precedent to closing include:<br>(a) obtaining all applicable government approvals and clearances;<br>(b) termination or cessation of operations by Sky of its pay TV and cable businesses; <br>(c) required consents and corporate actions having been obtained; and<br>(d) payment of the Purchase Price.<br>|
| &nbsp;&nbsp;**Any other salient terms:** |
| &nbsp;&nbsp; <br>None. <br>|
| &nbsp;&nbsp;**Identity of the person(s) from whom the shares were acquired or to whom they were sold:** |
| &nbsp;&nbsp; <br>PLDT will acquire the Sale Shares from Sky Vision Corporation, ABS-CBN Corporation, and Lopez, Inc. <br>|
| &nbsp;&nbsp;**Nature of any material relationship with the Issuer, its directors/ officers, or any of its affiliates:** |
| &nbsp;&nbsp; <br>None. <br>|
| &nbsp;&nbsp;**Effect(s) on the business, financial condition and operations of the Issuer, if any:** |

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|:---|
| &nbsp;&nbsp; <br>Please refer to the "Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction" for the effects of the proposed acquisition on PLDT's business and operations. <br>For the effects on PLDT's financial condition, the proposed acquisition of the broadband business of Sky through the purchase of 100% of its total issued and outstanding capital stock, will result in the full consolidation of Sky in PLDT's financial statements. The financial condition of PLDT, including its leverage, is not expected to be significantly affected by the proposed acquisition. |
| &nbsp;&nbsp;**Other Relevant Information:** |
| &nbsp;&nbsp; <br>Picazo Buyco Tan Fider & Santos and AlphaPrimus Advisors advised PLDT on this transaction while the law firms of Romulo Mabanta Buenaventura Sayoc & Delos Angeles and Quiason Makalintal advised the Sellers.<br>|

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11. Item 9 (Other events)

Attached herewith is PSE Disclosure Form 4-2 in relation to PLDT's proposed acquisition of the broadband business and its related assets of Sky Cable Corporation ("Sky") through the purchase of 100% of Sky's total issued and outstanding capital stock.

Pursuant to the requirements of the Securities Regulation Code, the Company has duly authorized and caused this Report to be signed on its behalf by the undersigned.

**PLDT INC.**

By:

<u>/s/Marilyn A. Victorio-Aquino</u>

**Marilyn A. Victorio-Aquino**

Corporate Secretary

March 16, 2023

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**Signatures**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly authorized and caused this report to be signed on its behalf by the undersigned.

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| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;PLDT Inc.<br>|
| &nbsp;&nbsp;By | &nbsp;&nbsp;: | &nbsp;&nbsp;/s/ Marilyn A. Victorio-Aquino |
| &nbsp;&nbsp;Name | &nbsp;&nbsp;: | &nbsp;&nbsp;Marilyn A. Victorio-Aquino |
| &nbsp;&nbsp;Title | &nbsp;&nbsp;: | &nbsp;&nbsp;Corporate Secretary |

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Date: March 16, 2023

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