Please be informed that at the meeting of the Board of Directors of Pryce Corporation held today, December 21, 2016, the Board approved the holding a special stockholders’ meeting on February 2, 2017 at 4 o’clock p.m. for the following purposes:
(i) to secure the approval of the stockholders to the increase in the capital stock of the Corporation by Php 98,000,000.00 and the proposed amendment of the Seventh Article of the Articles of Incorporation to reflect the said increase, as above-stated; and,
(ii) to secure the approval and/or ratification of the placing and subscription transaction whereby Josefina Multi-Ventures Corporation (“Josefina”) sold twenty-four million five hundred thousand (24,500,000) shares at the selling price of five pesos (Php 5.00) per share through the facilities of the Philippine Stock Exchange, with the proceeds of the sale to be used to subscribe to 24,500,000 shares out of the above-mentioned increase in the capital stock of the Company, considering that the present authorized capital stock of the Company is already fully subscribed, and at the subscription price of Php 5.00 per share, or the total subscription price of one hundred twenty-two million five hundred thousand pesos (Php 122,500,000.00), including the eventual listing of the shares with the Philippine Stock Exchange.
The record date for determining the stockholders entitled to notice of and to vote at the said meeting shall be January 13, 2017. Notices will be sent to stockholders entitled thereto in due time. |