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)
Oct 12, 2023
2. SEC Identification Number
AS93000023
3. BIR Tax Identification No.
003822183000
4. Exact name of issuer as specified in its charter
DISCOVERY WORLD CORPORATION
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Station 1, Balabag, Malay, AklanPostal Code5608
8. Issuer's telephone number, including area code
8813-8857
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
854,000,000
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.
Discovery World Corporation DWC
PSE Disclosure Form 4-3 - Amendments to Articles of Incorporation References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Amendment of Articles of Incorporation.
Background/Description of the Disclosure
The Board of Directors approved the following amendments to the Company's Articles of Incorporation
1) Inclusion of "One Azul" as a business name; and
2) The addition of the express power by Discovery World Corporation ('DWC') to invest in the renewable energy business.
Date of Approval by Board of Directors
Sep 21, 2023
Date of Approval by Stockholders
TBA
Other Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Relevant Regulatory Agency, if applicable
N/A
Date of Approval by Securities and Exchange Commission
TBA
Date of Receipt of SEC approval
TBA
Amendment(s)
Article No.
From
To
First
Discovery World Corporation doing business under the names and styles of Discovery Boracay, Discovery Shores, Platitos Resto-Bar, Sands Lounge, Indigo Resto-Bar and Sunken Pool Bar, Forno Osteria, Estate XI, 360 Roof Lounge, and Terra Spa
Discovery World Corporation doing business under the names and styles of Discovery Boracay, Discovery Shores, Platitos Resto-Bar, Sands Lounge, Indigo Resto-Bar and Sunken Pool Bar, Forno Osteria, Estate XI, 360 Roof Lounge, Terra Spa and One Azul
Second
-
To invest in the business of exploring, developing and generating power derived from solar energy or other viable sources of renewable energy for lighting and power purpose, and for carrying on of all business incident thereto, including acquiring, building, constructing, owning, maintaining and operating all necessary and convenient buildings, structures, machinery, substation, transmission lines, poles, wires, and other related things and devices; to acquire, lease, hold, occupy or use land, rights of way, and easements therein; and to acquire and hold rights, licenses and permits necessary for the foregoing purposes.
Rationale for the amendment(s)
Rationale for the amendments:
1) The tradename "One Azul" pertains to the latest addition to the properties operated by DWC located in Boracay; and
2) The addition of the power to invest in the renewable energy business is in line with DWC's plans to invest in solar energy assets in its operating sites and also for future solar energy projects that the DWC Group may undertake.
The foregoing amendments are subject to the approval of the shareholders and further approval of the Securities and Exchange Commission of the application for the amendment of DWC's Articles of Incorporation.
The timetable for the effectivity of the amendment(s)
Expected date of filing the amendments to the Articles of Incorporation with the SEC
TBA
Expected date of SEC approval of the Amended Articles of Incorporation
TBA
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any
None.
Other Relevant Information
In lieu of a stockholders meeting, the approval of the proposed amendments to the Amended Articles of Incorporation of DWC will be through written assent stockholders of record of DWC as of 27 October 2023. Stockholders will be given until 4 December 2023 to submit their written assent.
The amended is being made to reflect the record date of 27 October 2023 and the last day of submission of the written assent on 4 December 2023.