C06719-2020 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 2,815,392,714 |
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Subject of the Disclosure |
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Results of Board Meeting of September 24, 2020. |
Background/Description of the Disclosure |
The Board of Directors of Basic Energy Corporation (the Company), in its meeting held on September 24, 2020, approved and endorsed for approval of stockholders at the annual stockholders meeting to be held on October 23, 2020, the Audit Committee's recommendation for the appointment of the auditing firm Reyes Tacandong & Co., as the new external auditor of the Company beginning with the financial statements of the Company for the fiscal year 2020. SGV & Co. being the external auditor of the Company since 1972, the change of external auditor is in line with the corporate governance standards of the Company. The change of the external auditor is a component of the strategic plans of the Company to take on new investment directions and embark on new renewable energy projects to transform the Company into a viable and sustainable energy company. |
Other Relevant Information |
See attached SEC Form 17-C |
Name | Angel Gahol |
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Designation | AVP - Asst. Corp. Sec./ Compliance Officer |