C04219-2023

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)
May 25, 2023
2. SEC Identification Number
36359
3. BIR Tax Identification No.
000-438-702-000
4. Exact name of issuer as specified in its charter
BASIC ENERGY CORPORATION
5. Province, country or other jurisdiction of incorporation
MAKATI CITY
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
UB 111 Paseo de Roxas Bldg., Paseo de Roxas Avenue, Legaspi Village, Makati City Postal Code 1229
8. Issuer's telephone number, including area code
(+632) 9917-8118
9. Former name or former address, if changed since last report
Not applicable
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 14,668,643,064
11. Indicate the item numbers reported herein
Item No. 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.

Basic Energy CorporationBSC

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

Results of Regular Board Meeting of May 25, 2023
Background/Description of the Disclosure

On May 25, 2023, the Board of Directors of Basic Energy Corporation (the Company), in its Regular Board Meeting, approved the following:

A. Resolutions setting the date of the Annual Stockholders’ Meeting (“ASM”) for the year 2023 on July 12, 2023 (Wednesday) at 3:00 p.m.

B. Resolutions setting the record date on June 21, 2023 for purposes of determining the list of stockholders of the Company who are entitled to notice of, and vote, at the ASM;

C. Resolutions approving the following agenda for the 2023 ASM:

1. Call to Order
2. Certification of Notice of Meeting and Existence of Quorum
3. Approval of Minutes of the Annual Stockholders’ Meeting held on August 31, 2022
4. Presentation of the 2022 Annual Report with highlights of the 2022 Consolidated Audited Financial Statements
5. Ratification of All Acts of the Board and Management for 2022-2023
6. Election of Directors for 2023-2024
7. Approval of the Proposed Amendments to the By-laws
8. Appointment of External Auditors for the 2023 Financial Statements
9. Other Matters
10. Adjournment

D. Resolutions approving the amendments to the Company’s Bylaws relating to the following, among others:

1. Venue for the ASM;
2. Authority to call special stockholders’ meetings;
3. Notice requirements and the manner of voting during stockholders’ meetings;
4. Composition of the Board of Directors;
5. Frequency of meetings of the Board of Directors;
6. Vacancies in the Board of Directors;
7. Compensation of the Directors;
8. Grounds for disqualification to be elected as director;
9. Enumeration and Composition of Board Committees;
10. Residency requirement for the treasurer;
11. Inclusion of the Compliance Officer as Corporate Officer;
12. Change of record date; and
13. Corporate seal.
Other Relevant Information

please refer to attached SEC Form 17-C
Filed on behalf by:
Name Dominique Pascua
Designation Compliance Officer