C04897-2023
Ex-Date : Mar 24, 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 21, 2023
2. SEC Identification Number
PW-121
3. BIR Tax Identification No.
000-438-366-000
4. Exact name of issuer as specified in its charter
BANK OF THE PHILIPPINE ISLANDS
5. Province, country or other jurisdiction of incorporation
MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
AYALA NORTH EXCHANGE TOWER 1 AYALA AVENUE COR. SALCEDO ST. LEGASPI VILLAGE, MAKATI CITY, METRO MANILA (current business address) Postal Code 1229
8. Issuer's telephone number, including area code
8246-5902 (CorpSec Off)/ 8246-5860 (IR)
9. Former name or former address, if changed since last report
-
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 4,945,197,291
11. Indicate the item numbers reported herein
-

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.

Bank of the Philippine IslandsBPI

PSE Disclosure Form 6-3 - Declaration of Property Dividends References: SRC Rule 17 (SEC Form 17-C) and
Sections 6 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Update on the Property Dividend Tax Reimbursement
Background/Description of the Disclosure

Further to our 15 June 2023 and 19 June 2023 disclosures on the sale of a portion of the Property Dividend sufficient to reimburse BPI for the Property Dividend Tax paid and the updated Public Ownership Report respectively, please be advised that 18,262,683 common shares, which corresponds to the fractional shares and shares withheld for property dividend tax purposes, were transferred to BPI Asset Management Trust Corporation (“BPI-AMTC”) on 16 June 2023 in accordance with the Property Dividend Distribution Guidelines.

On 21 June 2023, BPI subsequently determined that there was an excess of 334,902 common shares transferred to BPI-AMTC.

Immediately upon determining the excess transfer, a cross trade was made between BPI-AMTC and PCD Nominee Corp. for the transfer back to PCD Nominee Corp. of the 334,902 common shares held for the account of the relevant stockholders of BPI.

The relevant stockholders may expect to receive their Property Dividends shares starting today, 21 June 2023, in accordance with the Property Dividend Distribution Guidelines. Certain stockholders may expect an upward adjustment to the number of Property Dividend shares they will receive to account for the correction in the shares transferred to BPI-AMTC. The adjustments are expected to be made/completed on 26 June 2023. In addition, based on the request of certain PDTC depository participants to amend their previously submitted schedules of Authorizing and Non-Authorizing Stockholders, a total of 1,367,615 common shares are also expected to be delivered to the relevant Stockholders on 26 June 2023. Non-Authorizing Stockholders shall receive their Property Dividend shares at a later date in accordance with the Property Dividend Distribution Guidelines.

Type of Securities

Property Dividend
Date of Approval by Board of Directors Mar 15, 2023
Date of Approval by Stockholders N/A
Date of Approval by Securities and Exchange Commission, if applicable Jun 13, 2023
Other Relevant Regulatory Agency, if applicable N/A
Date of Approval by Relevant Regulatory Agency, if applicable N/A
Property to be Distributed Common shares of stock of BPI
Entitlement Ratio 0.0896395563 common share for every one (1) common share of BPI
Record Date (to be determined after necessary approvals) Mar 29, 2023
Payment Date (to be determined after necessary approvals) Jun 16, 2023
Other Relevant Information

The disclosure is being amended to provide updates on the subsequent events following the cross of the Property Dividend Shares on 16 June 2023.
Filed on behalf by:
Name Maria Lourdes Gatmaytan
Designation Corporate Secretary