C06238-2018 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common – Class A | 183,673,470 | |
Common – Class B | 122,448,979 | |
OUTSTANDING DEBT | 452,042,440 |
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Subject of the Disclosure |
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CALL TO SUBSCRIBE TO THE REMAINING UNISSUED CAPITAL STOCK OF THE COMPANY |
Background/Description of the Disclosure |
CALL TO SUBSCRIBE TO THE REMAINING UNISSUED CAPITAL STOCK OF THE COMPANY. The Board in its Sept. 18, 2018 meeting decided to make a call for the existing stockholders to subscribe to the remaining unissued capital stock of the Company. Company has authorized capital stock of P1,200,000,000 with par value of P1.00 per share out of which 306,122,449 shares are fully paid up/outstanding leaving 893,877,551 as unissued/unsubscribed. Existing stockholders now can subscribe at the ratio 2.91 shares per 1 share a stockholder holds at the price of P1.00 per share which is the par value under the Articles of Incorporation. Though not required by law, the Board decided to submit this for stockholders ratification on Nov. 16, 2018 to make everything transparent and above board. Thus implementation will be sometime after Nov. 16, 2018 and after the Board has set the procedure/policy regarding the period within which to subscribe and pay. The proceeds/amount that will be raised will be for working capital purpose. |
Other Relevant Information |
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Name | Nestor Romulo |
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Designation | Corporate Secretary & CIO |