Exhibit 99.1
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Exhibit No. | Exhibit | ||
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99.1 |
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| Copies of disclosure letters that PLDT Inc. (the “Company”) filed today with the Philippine Stock Exchange, Inc. (“PSE”), the Securities and Exchange Commission (“SEC”), and the Philippine Dealing and Exchange Corporation (“PDEx”) in response to the PSE’s letter dated July 26, 2023 requesting the Company to clarify information and/or to provide relevant information in relation to the news article entitled “PLDT seen to reduce average spending by over 10%, raise P58B from more tower sales“ as posted in BusinessWorld (Online Edition) on July 26, 2023.
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July 26, 2023
The Philippine Stock Exchange, Inc.
6/F Philippine Stock Exchange Tower
28th Street corner 5th Avenue
Bonifacio Global City, Taguig City
Attention: Ms. Alexandra D. Tom Wong
Officer-in-Charge, Disclosure Department
Gentlemen:
We refer to the PSE’s letter dated July 26, 2023 requesting PLDT Inc. (“PLDT”) to clarify information and/or to provide relevant information in relation to the news article entitled “PLDT seen to reduce average spending by over 10%, raise P58B from more tower sales“ as posted in BusinessWorld (Online Edition) on July 26, 2023. The news article states, in part, as follows:
“PLDT Inc. is expected to lower its average capital expenditures (capex) by more than 10% from 2023 to 2025, according to a report by Singapore’s S&P Global Ratings.
The report — S&P’s Asia-Pacific 5G: Telcos Face A Billion-Dollar Balancing Act — said telecommunication companies’ investments in 5G technology ‘remains more credit risk than reward’.
‘We expect average capex intensity for the same population to be close to 19% in 2023 before easing slightly from 2024. This compares with the average of about 20% in 2019-2022, the period during which most telcos rolled out 5G,’ S&P said.
‘Some telcos will face less pressure than others. For rated telcos in Korea, Taiwan, and Philippines, we expect average capex to fall by more than 10% for 2023-2025,’ it said.
. . . .”
We cannot confirm or comment on any of the information reported on the above-quoted news article. Please note that the news article refers to a report by Singapore’s S&P Global Ratings, and not to any official statement or disclosure from PLDT.
Very truly yours,
/s/Marilyn A. Victorio-Aquino
Marilyn A. Victorio-Aquino
Corporate Secretary
PLDT Inc.
July 26, 2023
Securities & Exchange Commission
Secretariat Building, PICC Complex
Roxas Boulevard, Pasay City
Attention: Mr. Vicente Graciano P. Felizmenio, Jr.
Director – Markets and Securities Regulation Department
Philippine Dealing & Exchange Corporation
29th Floor, BDO Equitable Tower
8751 Paseo de Roxas, Makati City 1226
Attention: Atty. Marie Rose M. Magallen-Lirio
Head – Issuer Compliance and Disclosure Department
Gentlemen:
We furnish you with a copy of our reply to the Philippine Stock Exchange’s Letter dated July 26, 2023 wherein PLDT Inc. was requested to clarify information and/or to provide relevant information in relation to the news article entitled “PLDT seen to reduce average spending by over 10%, raise P58B from more tower sales“ as posted in BusinessWorld (Online Edition) on July 26, 2023.
Very truly yours,
/s/Marilyn A. Victorio-Aquino
Marilyn A. Victorio-Aquino
Corporate Secretary
PLDT Inc.
COVER SHEET
SEC Registration Number | ||||||||||
P | W | - | 5 | 5 |
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Company Name
P | L | D | T |
| I | N | C. |
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Principal Office (No./Street/Barangay/City/Town/Province)
R | A | M | O | N |
| C | O | J | U | A | N | G | C | O |
| B | U | I | L | D | I | N | G |
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M | A | K | A | T | I |
| A | V | E | N | U | E |
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M | A | K | A | T | I |
| C | I | T | Y |
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Form Type |
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| Department requiring the report |
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| Secondary License Type, If Applicable | |||||||||||||||||||||
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| 17 | - | C |
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| M | S | R | D |
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COMPANY INFORMATION
| Company’s Email Address |
| Company’s Telephone Number/s |
| Mobile Number |
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| No. of Stockholders |
| Annual Meeting |
| Fiscal Year |
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| 11,415 As of June 30, 2023 |
| Every 2nd Tuesday of June |
| December 31 |
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CONTACT PERSON INFORMATION
The designated contact person MUST be an Officer of the Corporation
Name of Contact Person |
| Email Address |
| Telephone Number/s |
| Mobile Number |
Marilyn A. Victorio-Aquino |
| mvaquino@pldt.com.ph |
| 82500254 |
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Name of Contact Person |
| Email Address |
| Telephone Number/s |
| Mobile Number |
Contact Person’s Address |
MGO Building, Legaspi St. corner Dela Rosa St., Makati City |
Note: In case of death, resignation or cessation of office of the officer designated as contact person, such incident shall be reported to the Commission within thirty (30) calendar days from the occurrence thereof with information and complete contact details of the new contact person designated.
SECURITIES AND EXCHANGE COMMISSION
CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.1
1. | July 26, 2023
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| Date of Report (Date of earliest event reported) | |
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2. | SEC Identification Number PW-55 | |
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3. | BIR Tax Identification No. 000-488-793 | |
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4. | PLDT Inc. | |
| Exact name of issuer as specified in its charter | |
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5. | PHILIPPINES | 6. ____________ (SEC Use Only) |
| Province, country or other jurisdiction of Incorporation | Industry Classification Code |
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7. | Ramon Cojuangco Building, Makati Avenue, Makati City | 1200 |
| Address of principal office | Postal Code |
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8. | (632) 82500254 |
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| Issuer's telephone number, including area code | |
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9. | Not Applicable |
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| Former name or former address, if changed since last report | |
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10. | Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act | |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding |
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11. Item 9 (Other Events)
Attached herewith is a copy of our reply to the Philippine Stock Exchange’s Letter dated July 26, 2023 wherein PLDT Inc. was requested to clarify information and/or to provide relevant information in relation to the news article entitled “PLDT seen to reduce average spending by over 10%, raise P58B from more tower sales“ as posted in BusinessWorld (Online Edition) on July 26, 2023.
Pursuant to the requirements of the Securities Regulation Code, the Company has duly authorized and caused this Report to be signed on its behalf by the undersigned.
PLDT INC.
By:
/s/Marilyn A. Victorio-Aquino
Marilyn A. Victorio-Aquino
Corporate Secretary
July 26, 2023
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly authorized and caused this report to be signed on its behalf by the undersigned.
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| PLDT Inc.
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By | : | /s/Abner Tito L. Alberto |
Name | : | Abner Tito L. Alberto |
Title | : | Assistant Corporate Secretary |
Date : July 26, 2023
