C04715-2018 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Stock | 2,477,667,911 |
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.
Subject of the Disclosure |
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Change in External Auditor |
Background/Description of the Disclosure |
On May 2, 2018, the Board of Directors of A Brown Company, Inc. ("ABCI") approved the Audit Committee’s recommendation to appoint Sycip Gorres Velayo & Co. as the new external auditor for the year 2018. On June 28, 2018, the stockholders approved the same during the Annual Stockholders’ Meeting. |
Date of Approval by Board of Directors | May 2, 2018 |
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Date of Approval by Stockholders | Jun 28, 2018 |
Previous External Auditor | Constantino Guadalquiver and Co. (CG & Co.) |
New External Auditor | Sycip Gorres Velayo and Co. (SGV & Co.) |
Effective Date of Engagement of New External Auditor | Jun 28, 2018 |
Rationale for Replacement |
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The change in external auditor is due to the rotation of external auditor in compliance with the corporate governance standards as mandated by SRC Rule 68(3)(b). |
Other Relevant Information |
Update on the date of approval of the stockholders and engagement with SGV. |
Name | Allan Ace Magdaluyo |
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Designation | Senior Finance Manager/Corporate Information Officer |