San Miguel : SMC-Use of Proceeds 12.22.16

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SECURITIES AND EXCHANGE COMMISSI.ON

SECBuilding,EDSA,Greenhills,MandaluyongCity,MetroManila,Philippines Tel:[phone]to 39Fax:[phone] Email:[e-mail] .ph

Barcode Page

The following document has been received:

Receiving Officer/Encoder : Fernando T. Fernandez Receiving Branch : SEC Head Office

Receipt Date and Time : December 22, 2016 10:03:24 AM Received From : Head Office

Company Representative Doc Source

Company Information

SEC Registration No. Company Name Industry Classification Company Type

Document Information

PW00000277

SAN MIGUEL CORP.

Stock Corporation

Document ID Document Type Document Code Period Covered No. of Days Late Department Remarks

112222016000210

17-C (FORM 11-C:CURRENT DISCURPT)

17-C

December 22, 2016

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(Business Address: No.Street C1ty/Town/Provi nce)

I Atty . Mary Rose S. Tan

Contact Person

[phone]

Company Telephone Number

SEC FORM 2nd Tuesdjy olJule

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FORM TYPE

Secondary License Type,If Applicable

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Annual Meeting

Dept. Requiring this Doc. Amended Articles Number/Section

Total Amount of Borrowings

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Total No.of Stockholders

Domestic Foreign

To be accomplished by SEC Personnel concerned

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SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE (SRC) AND SRC RULE 17(b)(3) THEREUNDER

1. December 22, 2016

   Date of Report (Date of earliest event reported)

2. SEC Identification No. PW 00000277

3. BIR Tax Identification No.000-060-741-000

1. SAN MIGUEL CORPORATION

   Exact name of registrant as specified in its charter

2. Philippines

(Province, country or other jurisdiction of Incorporation)

1. (SEC Use Only)

   Industry Classification Code

2. No. 40 San Miguel Avenue, Mandaluyong City, Metro Manila

(Address of principal office)

1550

(Postal Code)

8. [phone]

(Registrant's telephone number, including area code)

1. N/A

   (Former name or former address, if change since last report)

   The Registrant has not changed its address since its last report to this Honorable Commission.

2. Securities registered pursuant to Sections 8 and 12 of SRC

   Title of Each Class Number of Outstanding Common and Preferred Shares

   as of November 30, 2016

   Common Shares	2,380,198,530
   Series " 1" Preferred Shares	279,406,667
   Series "2" Preferred Shares
   Subseries B	90,428 ,200
   Subseries C	255,559,400
   Subseries D	89,333,400
   Subseries E	134,000,100
   Subseries F	223,333,500
   Subseries G	66,666,600
   Subseries H	164,000,000
   Subseries I	169,333,400
   TOTAL	3,852,259, 797

   2

3. Indicate the item numbers reported herein: Item 9

4. The followi ng are the additional disbursements of the Company from the net proceeds of the Offering.

5. Date of Disbursement		Use of Proceeds	Details	Amount in Php
   21 December 2016		Investment	Additional investment in San Miguel Holdings Corp. for investment in Mabini Properties, Inc.	185,625,000.00
   TOTAL DISBURSEMENTS IN THIS REPORT			185,625,000.00
   TOTAL DATE	DISBURSEMENTS	TO	23,338,131,800.60
   BALANCE OF PROCEEDS			6,382,995,254.42

   [End]

   Pursuant to the requirements of the Securities Regulation Code, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   SAN MIGUEL CORPORATION

   By:

   Ma.Jo an

   Assistant Corporate Secretary

   December 22, 2016