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Atok-Big Wedge Co., Inc.
|Atok-Big Wedge Company, Inc. (AB), formerly Atok-Big Wedge Mining Co., Inc., was incorporated and registered with the Securities and Exchange Commission (SEC) on September 4, 1931. Since its incorporation, the Company engaged in mining as its primary purpose, producing gold as its major product and silver as a by-product. Its production was all sold to the Central Bank of the Philippines at a price subsidized by the Philippine Government, and later on at the prevailing world market price.
Due to prolonged adverse economic conditions compounded by problems faced by the mining industry, the Board and stockholders of AB redirected the Company's primary purpose from mining to general investment, and listed among its secondary purposes, mining, real estate management and development, manufacturing, food products processing, and lending and borrowing money. The SEC approved these changes on June 24, 1996. AB subsequently spun off its mining assets to a wholly-owned subsidiary involved in mining, Atok Gold Mining Co., Inc. (Atok Gold). On June 3, 2011, the Company sold its entire interest in Atok Gold to Progressive Development Corporation.
AB reverted to its original purpose of engaging in exploration and development of mining, oil, gas, and other natural resources as approved by the SEC on May 25, 2010. The Company currently has two wholly-owned subsidiaries namely, AB Stock Transfers Corporation with the purpose of establishing, operating and acting as a transfer agent and/or registrar of corporations; and Tidemark Holdings Limited, a Hong Kong-based company that holds 27.14% of gas and oil exploration and production company Forum Energy plc.
Source: SEC Form 17-A (2015)
|Sector||Mining and Oil|
|Incorporation Date||Aug 27, 1931|
|Number of Directors||9|
|Stockholders' Meeting as per By-Laws||June - third Friday at 4 pm|
|Fiscal Year||12/31 (Month/Day)|
|External Auditor||Reyes, Tacandong & Co.|
|Transfer Agent||AB Stock Transfers Corporation|
|Business Address||10th Floor, Alphaland Southgate Tower, 2258 Chino Roces Avenue corner EDSA, Makati City|