C04696-2023

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)
Jun 15, 2023
2. SEC Identification Number
AS094-002365
3. BIR Tax Identification No.
003-868-048
4. Exact name of issuer as specified in its charter
SPC POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7/F, BDO Towers Paseo, 8741 Paseo de Roxas, Makati City Postal Code 1209
8. Issuer's telephone number, including area code
(63 2) 8810 4474 to 77
9. Former name or former address, if changed since last report
N.A.
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 - Issued 1,569,491,900
Treasury 72,940,097
Outstanding 1,496,551,803
11. Indicate the item numbers reported herein
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.

SPC Power CorporationSPC

PSE Disclosure Form 4-24 - Results of Annual or Special Stockholders' Meeting References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Submission of report on the Highlights or Results of SPC Power Corporation Annual Stockholders' Meeting
Background/Description of the Disclosure

A. Annual Stockholders Meeting

In the annual stockholders meeting that was held on June 15, 2023 at 9:30 A.M. via ZOOM video teleconference, where a total of 1,340,399,900 shares (equivalent to (89.52%) of the total issued and outstanding shares were represented either in person or by proxy, the following items were discussed and properly disposed of:

1. Approval of the Minutes of the Annual Stockholders Meeting of May 31, 2022.

Upon motion duly made and seconded, the minutes of the annual stockholders meeting of May 31, 2022 was approved.

2. Presentation of the Report of Management

Mr. Alfredo L. Henares, Chairman of the Board, and Mr. Niño Ray D. Aguirre, Vice President for Finance and Treasurer of the Company, respectively, delivered their respective reports. Mr. Alfredo L. Henares focused on the performance of the following power plants during the calendar year ended December 31, 2022 in terms of Plant Availability, Capacity and Generation Rate.

a. Panay Diesel Power Plant (1 & 3)
b. Bohol Diesel Power Plant
c. Power Barge 104
d. KSPC Cebu Coal Plant
e. Bohol Light Company, Inc.
f. Mactan Electric Company, Inc.

He also mentioned how these plants contributed positively to the revenue and net
income of SPC Power Corporation.



Mr. Aguirre focused on the results of the financial operation for the calendar year 2022 explaining the accounts that registered significant variances over the same period in the preceding year.

Their reports were duly noted by the stockholders.

3. Approval of Directors Fees for Calendar Year Ended December 31, 2022

Upon motion duly made and seconded, the motion to pay (i) the amount of ¿600,000.00 to each director who served the Corporation during the calendar year ended December 31, 2022 for a full year of service or pro-rata thereof if service is less than one year, (ii) an extra payment of ¿200,000.00 to the Chairman, and (iii) to pay those directors performing executive functions an additional amount aggregating about ¿24,034,122.00 was approved and ratified.

4. Ratification of Past Actions Taken by the Board of Directors and Officers As of December 31, 2022

Upon motion duly made and seconded, the stockholders approved and ratified the past acts of the Board of Directors and Officers as of December 31, 2022.

5. Election of the Board of Directors

Upon motion duly made and seconded, the following directors were elected/reelected:

Dennis T. Villareal
Alfredo L. Henares
Alberto P. Fenix, Jr.
James Roy N. Villareal
Lee, Dalhun
Kim, Kilwon
Lee, Sanghun
Bang, Sanghee
Francisco L. Viray (independent director)
Enrison T. Benedicto (independent director)
Sergio R. Ortiz-Luis, Jr. (independent director)+


6. Appointment of External Auditors

Upon motion duly made and seconded, the stockholders approved and ratified the appointment of Sycip Gorres Velayo & Co. (SGV) as the external auditors of the Corporation for calendar year 2023.
List of elected directors for the ensuing year with their corresponding shareholdings in the Issuer
Name of Person Shareholdings in the Listed Company Nature of Indirect Ownership
Direct Indirect
Dennis T. Villareal 6,425,501 10,000,000 Wife
Alfredo L. Henares 1 21,850,269 as director
Alberto P. Fenix, Jr. 855,933 0 as director
James Roy N. Villareal 274,196 0 as director
Lee, Dalhun 1 0 as director
Kim, Kilwon 1 0 as director
Lee, Sanghun 1 0 as director
Bang Sang Hee 1 0 as director
Francisco L. Viray 1 0 as director
Sergio R. Ortiz-Luis, Jr. 1 0 as director
Enrison T. Benedicto 1 0 as director
External auditor SyCip Gorres Velayo & Co. (SGV)
List of other material resolutions, transactions and corporate actions approved by the stockholders

Approval of the May 31, 2022 Minutes of Stockholders Meeting
Approval of Directors Fees for Calendar Year ended December 31, 2022
Ratification of Past Actions Taken by the Board of Directors and Officers as of December 31, 2022
Other Relevant Information

None
Filed on behalf by:
Name Maria Luz Caminero
Designation Senior Vice President for Legal and Regulatory Affairs/Corporate Secretary