9. Former name or former address, if changed since last report
MRC ALLIED INDUSTRIES, INC.
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON STOCk
8,512,658,975
11. Indicate the item numbers reported herein
-
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
MRC Allied, Inc.MRCStock Symbol
PSE Disclosure Form 4-12 - Change in Par Value References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Change in Par Value from PHP0.10 to PHP0.50 per share.
Background/Description of the Disclosure
Please be advised that during the regular board meeting held earlier today, the following matters were approved and confirmed unanimously by the members of the Board present during said meeting:
1. The approval of the minutes of the last regular board meeting held on 07 March 2017.
2. The approval of the change in Board Committee Membership, as follows:
a.) Nomination & Compensation Committee
Chairperson: Atty. Gladys N. Nalda Members: Zenaida Y. Monsada Bernard B. Rabanzo Celia Chao b.) Audit Committee
Chairperson: Atty. Michael B. Arciso Members: Jimmy T. Yaokasin Bernard B. Rabanzo Celia Chao
c.) Executive & Governance Committee
Chairperson: Carlos Jose P. Gatmaitan Members: Atty. Gladys N. Nalda Bernard B. Rabanzo Celia Chao Alejandro A. Palacio
3. The approval of the postponement and rescheduling of the 2017 Annual Stockholders’ Meeting of the Company from 8 May 2017 to 16 June 2017 at 10 o’clock in the morning, subject to the approval of the Securities and Exchange Commission. The record date shall be on 28 April 2017.
4. The approval the 2016 Financial Statement audited by the Company’s external auditor, Reyes Tacandong & Co.
5. The approval for the management to explore the option of conducting a private placement for the outstanding and unissued portion of the authorized capital stocks in order to raise capital, subject to the terms of reference to be approved by the Board.
6. The approval of the increase in par value of the Company’s shares from PHP 0.10 to PHP 0.50 per share, subject to the approval of the stockholders of the Company during the next annual stockholders’ meeting. The purpose of the stock merge is to reduce the Company’s total issued and outstanding shares to a level more appropriate to the market and to encourage the participation of institutional investors.
Date of Approval by Board of Directors
Apr 5, 2017
Date of Approval by Stockholders
TBA
Date of Approval by Securities and Exchange Commission
TBA
Previous Par Value
PHP0.10
New Par Value
PHP0.50
Rationale for the change in par value of the Issuer's shares
To reduce the Company's total issued and outstanding shares to a level more appropriate to the market and to encourage the participation of institutional investors.
Effects on Capital Structure
Issued Shares
Type of Security /Stock Symbol
Before
After
Common Stock
8,512,658,975
1,702,531,795
Outstanding Shares
Type of Security /Stock Symbol
Before
After
Common Stock
8,512,658,975
1,702,531,795
Treasury Shares
Type of Security /Stock Symbol
Before
After
-
-
-
Listed Shares
Type of Security /Stock Symbol
Before
After
Common Stock
4,125,000,000
825,000,000
Procedure(s) for updating stock certificates
Details of Stock Transfer Agent
Name
Professional Stock Transfer Inc.
Address
10th Floor Telecom Plaza bldg. 316 Sen Gil Puyat Avenue, Makati City
Contact Person
Ms. Jenny Serafica
Inclusive dates when the old stock certificates can be replaced
Start Date
TBA
End Date
TBA
Documentary requirements
Individual Shareholders
Procedure to change stock certificates: 1. Submit a Letter Request to change the stock certificate; 2. Surrender your old stock certificates at the office of Professional Stock Transfer Inc.'s Transfer agent at the following address: Professional Stock Transfer Inc. 10th Floor, Telecom Plaza Bldg., 316 Sen Gil Puyat Avenue, Makati City Telephone Nos. 687-4053 & 687-2733 Contact Person: Ms. Jenny Serafica 3. Submit photocopies of two (2) valid identification cards, one of which must be government issued, with the photograph and specimen signature of the stockholder; 4. The new stock certificate(s) may be released to you or your authorized representative upon presentation by the authorized representative of his/her identification card with photograph thereon, submission of photocopies of two (2) valid identification cards, one of which must be government-issued, and an original-signed authorization letter from you.
Corporate Shareholders
In case of a corporate stockholder, a photocopy of the Articles of Incorporation and By-laws, the latest General Information Sheet, and a Secretary's Certificate naming the authorized representative(s) of the corporate stockholder with the corresponding specimen signature appearing thereon, must be submitted together with a photocopy of each authorized representative's valid identification cards.
Date of availability of new stock certificates
TBA
Procedures in case of lost stock certificates
Procedure prescribed under Section 73 of the Corporation Code of the Philippines must be complied.
MRC Allied, Inc.MRCStock Symbol