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)
Mar 18, 2024
2. SEC Identification Number
A199600179
3. BIR Tax Identification No.
004-6688-224
4. Exact name of issuer as specified in its charter
NOW CORPORATION
5. Province, country or other jurisdiction of incorporation
METRO MANILA, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Unit 5-I, 5th Floor OPL Building, 100 C. Palanca Street, Legaspi Village, Makati CityPostal Code1229
8. Issuer's telephone number, including area code
+632 88102548
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
1,806,726,314
11. Indicate the item numbers reported herein
9. Other Events
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.
Now CorporationNOW
PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Clarification of News Article
Source
Daily Tribune (Online Edition)
Subject of News Report
“CA denies NOW Telecom plea”
Date of Publication
Mar 15, 2024
Clarification of News Report
“NOW Telecom Company Inc., which sought to become the country’s third major telecommunications provider, received a final denial from the Court of Appeals or CA after it upheld a decision last year junking the company’s plea to become the third telecommunications player.
The CA ruling came days after the SC affirmed the CA decision and returned the case to the lower court for a final ruling.
NOW’s petition sought to compel the National Telecommunications Commission to comply with the Anti-Red Tape Authority decision allowing it to operate a third cellular mobile telephone service within a specific frequency range.
Associate Justice Tita Marilyn Payoyo-Viordon in a four-page resolution said CA’s Special Ninth Division denied the motion for reconsideration filed by Now Telecom seeking the reversal of its 21 September 2023 decision.
. . . .“
Contrary to the erroneous information being disseminated, the Court of Appeals’ recent resolution has nothing to do with the proceedings involving the third telecommunications player.
The Court of Appeals’ Resolution is in relation to the petition for mandamus filed by NOW Telecom Company, Inc. against the National Telecommunications Commission, et al. (“NTC”), dated 29 February 2024 pending before Special 9th Division, Court of Appeals, denying NOW Telecom’s Motion for Reconsideration of the earlier Court of Appeals Decision which denied NOW Telecom’s Petition for Mandamus which sought to compel NTC to comply with the final and immutable ARTA Order of Automatic Approval dated 01 March 2021 directing NTC to issue PA to NOW Telecom to operate the frequency range 1970 Mhz - 1980 Mhz paired with 2160 Mhz to 2170 Mhz and 3.6 Ghz to 3.8Ghz. Since NOW Telecom firmly believes that the Court of Appeals committed serious reversible error of law when it rendered the said Resolution, it will file a Petition for Review/Appeal with the Supreme Court contesting the denial of the Petition for Mandamus.
The matter is about NOW Telecom’s case against NTC and its claims on 140 MHz awarded to DITO. If NOW Telecom does not win this case and the other cases involving additional frequencies such as the ARTA related cases, NOW Telecom has current frequencies recently renewed by NTC to operate. In addition, NOW Telecom has license to operate data and mobile services not limited to 3G, 4G or 5G. It includes Satellite and other new technologies, Electronic Communications Services and Electronic Communications Network, which are not limited to frequencies, as per Republic Act 10972, expiring 2043.
The Court of Appeals’ recent resolution stems from a completely different proceeding, and has nothing to do with the recent Supreme Court decision disclosed earlier, which pertains to NOW Telecom’s application for temporary restraining order and/or writ of preliminary injunction to stop the implementation of Memorandum Circular No. 09-09-2018.
As for NOW Corporation, it is an IT company that does not require to possess regulated frequencies to operate. NOW Corp is an IT provider and prime advocate of America’s Trusted or Clean Network Initiative for the Indo Pacific region. NOW Corporation’s business or operations are not affected by this recent Court of Appeals resolution.
Now CorporationNOW