ACEPH Material Actions of The BOD (11 June 2020) PDF
ACEPH Material Actions of The BOD (11 June 2020) PDF
ACEPH Material Actions of The BOD (11 June 2020) PDF
At its meeting held today via video conferencing, the Board of Directors of the Company approved the
following:
1. The Company’s acquisition of existing nominal shares and subscription to new shares to become
the controlling shareholder of the following special purpose vehicles for development projects used
by the AC Energy group:
a. GigaAce4, Inc.
b. GigaAce5, Inc.
c. GigaAce6, Inc.
d. GigaAce7, Inc.
e. GigaAce8, Inc.
f. GigaAce9, Inc.
g. GigaAce10, Inc.
2. The updated terms for the credit line with the Development Bank of the Philippines from up to
PhP3 billion to up to PhP5.5 billion;
3. Amendment of the Power Administration and Management Agreement with One Subic Power
Generation Corporation; and
4. Amendments to the following to align with regulatory requirements and Ayala Group policies:
a. Charter of the Board of Directors; and
b. Code of Conduct
ALAN T. ASCALON
Assistant Corporate Secretary