AC Energy : Acquisition or Disposition of Shares of Another Corporation

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) Mar 30, 20222. SEC Identification Number 392743. BIR Tax Identification No. 000-506-020-0004. Exact name of issuer as specified in its charter AC Energy Corporation5. Province, country or other jurisdiction of incorporation Makati City, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 35th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati CityPostal Code12268. Issuer's telephone number, including area code [phone]9. Former name or former address, if changed since last report N/A10. 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 Shares	38,315,838,177

11. Indicate the item numbers reported herein N/A

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.

AC Energy CorporationACEN PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Subscription by the Company to shares in ACEN Renewables International

Background/Description of the Disclosure

Please be informed that the Company signed a subscription agreement with its subsidiary ACEN Renewables International Pte Ltd (formerly AC Renewables International Pte Ltd; "ACEN International") for the subscription by the Company to 1,402,029 Class E redeemable preferred shares ("RPS") with a par value of USD 100.00 per share for a total par value of USD 140,202,900.00 (the "Subscription Price).

Date of Approval by Board of Directors

N/A

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

Additional direct investment in a subsidiary

Details of the acquisition or disposition

Date	Mar 30, 2022

Manner

Subscription to Class E redeemable preferred shares

Description of the company to be acquired or sold

ACEN International is a Singapore private company limited by shares that has interests in various renewable energy and development companies and projects in Indonesia, Vietnam, India, Australia, and other countries. ACEN, through wholly owned subsidiary AC Energy International, Inc., is the controlling shareholder of ACEN International.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	1,402,029
Percentage to the total outstanding shares of the company subject of the transaction	9.16
Price per share	USD 100.00

Nature and amount of consideration given or received

Total Subscription Price of USD 140,202,900.00

Principle followed in determining the amount of consideration

Subscription at par value

Terms of payment

Cash

Conditions precedent to closing of the transaction, if any

Full payment of the Subscription Price Approval by the Accounting and Corporate Regulatory Authority of Singapore

Any other salient terms

None

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
ACEN Renewables International (ACEN International)	The Company, through AC Energy International, Inc. is the controlling shareholder of ACEN International.

Effect(s) on the business, financial condition and operations of the Issuer, if any

Investment to be used for ACEN International's projects.

Other Relevant Information

-

Filed on behalf by:

Name	Alan Ascalon
Designation	Vice President/ Asst. Corporate Secretary