Guidelines for Reporting Under SEC Form 11-C Current Reports

August 22, 1997 SEC-MMOD * MEMORANDUM CIRCULAR NO. 05-97 TO : All Publicly Held/Listed Companies SUBJECT : Guidelines for Reporting Under SEC Form 11-C Current Reports With the adoption of the Commission's Full Disclosure Rules, every issuer required to file reports under paragraph (a) of RSA Rule 11(a)-1 shall file a report on SEC Form 11-C as necessary to make a full, fair and accurate disclosure to the public of every material fact or event. SEC Form 11-C contains an illustrative list of the kinds of material facts or events which shall be reported. However, the list is not all-inclusive so that any other similar fact or event that is reasonably expected to materially affect investment decisions shall also be reported. In order to consider the foregoing facts or events as adequately disclosed, all reports under SEC Form 11-C shall include a discussion of the impact of the reported fact or event on the registrant's current or future operations. Its financial position or results of operation. The registrant shall furnish the information required under RSA Rule 3-3. (Requirements for Filings Pursuant to the RSA and the Corporation Code of the Philippines) applicable to each fact or event reported on and provide a discussion as thorough as if such fact or event were to be initially included in a registration statement. For immediate and strict compliance. (SGD.) PERFECTO R. YASAY, JR. Chairman