PLDT Inc. — Regulatory Filings 2008

May 16, 2008

6-K 1 ussec_buyback051608.htm ACQUISITION OF PLDT COMMON SHARES BY THE COMPANY. ussec_buyback051608 / Font Definitions / @font-face {font-family:Wingdings; panose-1:5 0 0 0 0 0 0 0 0 0;} @font-face {font-family:Batang; panose-1:2 3 6 0 0 1 1 1 1 1;} @font-face {font-family:PMingLiU; panose-1:2 1 6 1 0 1 1 1 1 1;} @font-face {font-family:Tahoma; panose-1:2 11 6 4 3 5 4 4 2 4;} @font-face {font-family:"Bookman Old Style"; panose-1:2 5 6 4 5 5 5 2 2 4;} @font-face {font-family:"Times New Roman Bold"; panose-1:0 0 0 0 0 0 0 0 0 0;} @font-face {font-family:Garamond; panose-1:2 2 4 4 3 3 1 1 8 3;} @font-face {font-family:"Lucida Console"; panose-1:2 11 6 9 4 5 4 2 2 4;} @font-face {font-family:"\@PMingLiU"; panose-1:0 0 0 0 0 0 0 0 0 0;} @font-face {font-family:"\@Batang"; panose-1:0 0 0 0 0 0 0 0 0 0;} / Style Definitions / p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times New Roman";} h1 {margin:0in; margin-bottom:.0001pt; page-break-after:avoid; 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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

For the month of May 2008

Commission File Number 1-03006

Philippine Long Distance Telephone Company

(Exact Name of Registrant as Specified in Its Charter)

Ramon Cojuangco Building

Makati Avenue

Makati City

Philippines

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.)

Form 20-F Ö Form 40-F

(Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes No Ö

(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __ )

NOTE REGARDING FORWARD-LOOKING STATEMENTS

Some information in this report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. We have based these forward-looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We have chosen these assumptions or bases in good faith. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in “Item 3. Key Information – Risk Factors” in our annual report on Form 20-F for the fiscal year ended December 31, 2007. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as at the date on which we made it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the statements in this report after the date hereof. In light of these risks and uncertainties, you should keep in mind that actual results may differ materially from any forward-looking statement made in this report or elsewhere.

EXHIBITS

Exhibit Number		Page
1	Copy of the disclosure letter we sent to the Philippine
Stock Exchange and the Securities and Exchange Commission regarding the acquisition
of PLDT common shares by the
Company pursuant to its Share Buyback Program that was approved by the
Company’s Board of Directors on January 29, 2008.	5

Exhibit 1

May 16, 2008

Securities and Exchange Commission

SEC Building

EDSA, Mandaluyong City

Attention: Atty. Justina F. Callangan

Director, Corporation Finance Dept.

Gentlemen:

In compliance with Section 17.1 (b) of the Securities Regulation Code and SRC Rule 17.1, we submit herewith a copy of SEC Form 17-C with respect to certain discloseable events/information.

Thank you.

Very truly yours, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY /s/ Ma. Lourdes C. Rausa-Chan MA. LOURDES C. RAUSA-CHAN Corporate Secretary

Page 1 of 5

Exhibit 1

COVER SHEET

P
SEC Registration No.

P H I L I P P I N E L O N G D I S T A N C E

T E L E P H O N E C O M P A N Y

(Company’s Full Name)

R A M O N C O J U A N G C O B U I L D I N G

M A K A T I A V E. M A K A T I C I T Y

(Business Address: No. Street/City/Town/Province)

ATTY. MA. LOURDES C. RAUSA-CHAN	816-8405
Contact person	Contact Telephone No.

1		SEC FORM 17-C	0	Every 2 nd Tuesday
Month	Day	FORM TYPE	Month	Day
Fiscal Year			Annual Meeting

C	N/A
Dept.
Requiring this Doc.	Amended Articles Number/Section

2,184,649 As of April 30, 2008	NA	NA
Total No. of Stockholders	Domestic	Foreign

---

To be accomplished by SEC Personnel concerned

File Number	LCU

Document I.D.	Cashier

STAMPS

Remarks: Please use black ink for scanning purposes

Page 2 of 5

Exhibit 1

SECURITIES AND EXCHANGE COMMISSION

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATION CODE

AND SRC RULE 17.1

1. May 16, 2008

Date of Report (Date of earliest event reported)

1. SEC Identification Number PW-55

2. BIR Tax Identification No. 000-488-793

3. PHILIPPINE LONG DISTANCE TELEPHONE COMPANY

Exact name of issuer as specified in its charter

1. PHILIPPINES 6.______ (SEC Use Only)

Province, country or other jurisdiction Industry Classification Code

of Incorporation

1. Ramon Cojuangco Building, Makati Avenue, Makati City 1200

Address of principal office Postal Code

1. (632) 816-8405

Issuer's telephone number, including area code

1. Not Applicable

Former name or former address, if changed since last report

1. 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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Page 3 of 5

Exhibit 1

1. Other Events

Attached hereto is a copy of our letter to the Philippine Stock Exchange dated May 16, 2008 regarding the acquisition of PLDT common shares by the Company pursuant to its Share Buyback Program that was approved by the Board of Directors of the Company on January 29, 2008.

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

PHILIPPINE LONG DISTANCE

TELEPHONE COMPANY

By:

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary

May 16, 2008

Page 4 of 5

Exhibit 1

May 16, 2008

Philippine Stock Exchange, Inc.

Disclosure Department

4 th Floor, Philippine Stock Exchange Centre

(Tektite Tower) Exchange Road, Ortigas Center

Pasig City

Attention : Atty. Pete M. Malabanan

Head – Disclosure Dept.

Gentlemen:

Pursuant to Section 9 of the Revised Disclosure Rules as well as the letters of the Exchange dated January 29, 2008 and February 29, 2008, we report hereunder the PLDT common shares acquired by the Company on May 16, 2008 pursuant to the Share Buyback Program that was approved by the Company’s Board of Directors on January 29, 2008.

Date of Transaction	Number of Shares	Price Per Share	Treasury Shares To date
May 16, 2008	15,000	P 2,685.00	516,070

NOTE: The column marked “Outstanding Shares After Transaction” was deleted because the outstanding common shares available from our transfer agent in computing the Outstanding Shares After Transaction is only as of 3 trading days prior to the transaction date.

Thank you.

Very truly yours,

PHILIPPINE LONG DISTANCE TELEPHONE COMPANY

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary

Page 5 of 5

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

| PHILIPPINE LONG DISTANCE TELEPHONE COMPANY |
| --- |
| By : /s/ Ma. Lourdes C. Rausa-Chan Name : Ma.
Lourdes C. Rausa-Chan Title : Senior
Vice President,
Corporate Affairs
and Legal Services Head and
Corporate Secretary |

Date: May 16, 2008