Please be advised that the Board of Directors of the Corporation, at its special meeting held today, unanimously approved the amendment of the Corporation’s Articles of Incorporation, to wit:
"RESOLVE, as it is hereby resolved, that Transpacific Broadband Group International, Inc. (the "Corporation") be authorized to amend its Articles of Incorporation
From: That the authorized capital stock of the corporation is THREE HUNDRED EIGHTY MILLION PESOS (P380,000,000.00) Philippine Currency, and said capital stock is divided into THREE HUNDRED EIGHTY MILLION (380,000,000) with a par value of One Peso (P1.00) each.
To: That the authorized capital stock of the corporation is THREE HUNDRED EIGHTY MILLION PESOS (P380,000,000.00) Philippine Currency, and said capital stock is divided into THREE BILLION EIGHT HUNDRED MILLION (3,800,000,000) with a par value of Ten Centavos (P0.10) each.
Stockholders of this corporation have no pre-emptive right whatsoever to subscribe to shares of stock of the company.”
RESOLVED FURTHER, that the relevant provisions of the Corporation’s articles of incorporation be amended in order to effect the above resolution;
RESOLVED FURTHER, that the Corporation's President, Arsenio T. Ng, be authorized to sign any and all documents and resolutions in order to effect the foregoing resolution;
RESOLVED FINALLY, that the foregoing resolution remain valid and subsisting, unless otherwise revoked or amended in writing by the Corporation.” |