Please be advised that the change in the par value of MEDCO Holdings, Inc.'s ("MED") shares from Php 1.00 per share to Php 0.05 per share will be reflected on the Exchange's trading system effective on Friday, May 11, 2018.
SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C
CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
May 4, 2018
2. SEC Identification Number
39652
3. BIR Tax Identification No.
004-844-938
4. Exact name of issuer as specified in its charter
Medco Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
31st Floor. Rufino Pacific Tower, 6784 Ayala Avenue, Makati City, Metro Manila, PhilippinesPostal Code1229
8. Issuer's telephone number, including area code
(632) 811-0465 to 66
9. Former name or former address, if changed since last report
N/A
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
700,000,000
11. Indicate the item numbers reported herein
Item 9. Other Events
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.
MEDCO Holdings, Inc.MED
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
Decrease in Par Value
Background/Description of the Disclosure
The Board, in their Special Meeting on 31 May 2017, approved the decrease in the Corporation's authorized capital stock from Php700 million divided into 700 million common shares to Php35 million divided into 700 million common shares by reducing par value per share from Php1.00 to Php0.05 in order to reduce the Corporation's deficit.
Date of Approval by Board of Directors
May 31, 2017
Date of Approval by Stockholders
Nov 24, 2017
Date of Approval by Securities and Exchange Commission
Apr 24, 2018
Previous Par Value
1.00
New Par Value
0.05
Rationale for the change in par value of the Issuer's shares
To reduce the Corporation's deficit.
Effects on Capital Structure
Issued Shares
Type of Security /Stock Symbol
Before
After
Common stock/MED
700,000,000
700,000,000
Outstanding Shares
Type of Security /Stock Symbol
Before
After
Common stock/MED
700,000,000
700,000,000
Treasury Shares
Type of Security /Stock Symbol
Before
After
Common stock/MED
0
0
Listed Shares
Type of Security /Stock Symbol
Before
After
Common stock/MED
700,000,000
700,000,000
Procedure(s) for updating stock certificates
Details of Stock Transfer Agent
Name
Professional Stock Transfer, Inc.
Address
10th Floor, Telecom Plaza, 316 Sen. Gil Puyat Ave., Makati City
Contact Person
Jenny C. Serafica
Inclusive dates when the old stock certificates can be replaced
Start Date
May 18, 2018
End Date
TBA
Documentary requirements
Individual Shareholders
Procedure to change and replace stock certificates: 1. Submit a letter of request to change the stock certificate. 2. Surrender your old certificate to the office of Medco Holdings, Inc.’s stock transfer agent, Professional Stock Transfer, Inc. at the address and contact details stated above. 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 certificates may be released to you or your authorized representative upon presentation by the authorized representative of two (2) valid identification cards with photograph thereon, one of which must be government-issued, and an original-signed authorization letter from you.
Corporate Shareholders
In case of corporate shareholders, the following are the required documents to be submitted: 1. Photocopy of the Articles of Incorporation and by-laws 2. Latest General information sheet 3. Secretary's certificate naming the authorized representative(s) of the corporate stockholder with the corresponding specimen signature appearing thereon 4. Photocopy of each authorized representative's valid identification cards
Date of availability of new stock certificates
May 18, 2018
Procedures in case of lost stock certificates
Procedure prescribed under Section 73 of the Corporation Code of the Philippines must be complied with.
Other Relevant Information
The reduction in Medco Holdings, Inc.'s par value is due to the Company's Quasi-Reorganization and the shares reflected after the reduction in par value does not yet include the amount of shares to be issued by the Company to Bonham Strand Investments Ltd. and Mr. Xu Hanjiang.
The report is hereby amended to reflect that the shareholders representing at least 2/3 of the outstanding capital stock of the Corporation approved the actions pertaining to the reduction in par value of the Corporation's common shares during the annual stockholders' meeting held on 24 November 2017.
The report has further been amended in order to reflect that the Securities and Exchange Commission approved the amendments to the Articles of Incorporation on 24 April 2018 and to include the procedure on updating stock certificates.
It is noted that the dates indicated above on the replacement of old certificates and issuance of new certificates are still estimates and will still be subject to final determination. The report will be updated accordingly as soon as these dates have been determined with finality.