Alliance Select Foods International, Inc. (FOOD) held its Special Stockholders' Meeting on September 7, 2017 (Thursday) at 2:30 p.m. at the PSE Auditorium, Ground Floor, Philippine Stock Exchange Centre, Exchange Road, Ortigas Center, Pasig City.
The stockholders of Alliance Select Foods International, Inc. (FOOD) approved by a vote of 1,872,469,276 or 74.91%, management’s proposed equity restructuring program, in accordance with its turnaround strategy.
The stockholders approved the Amendment of Article Seventh of the Company’s Articles of Incorporation to reduce the par value of common shares of the Company from One Peso (P1.00) per share to Fifty Centavos (P0.50) per share, and to decrease of the Company’s Authorized Capital Stock from Three Billion Pesos (P3,000,000,000.00) divided into Three Billion (3,000,000,000) common shares with par value of One Peso (P1.00) each to One Billion Five Hundred Million Pesos (P1,500,000,000.00) divided into Three Billion (3,000,000,000) common shares with par value of Fifty Centavos (P0.50) each. |