C01202-2021 |
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Subject of the Disclosure |
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Appointment of New External Auditor for fiscal year 2020 |
Background/Description of the Disclosure |
Pursuant to the authority granted to the Board of Directors by the Shareholders of the Corporation during the Annual Stockholders’ Meeting held on 14 September 2020, the Board of Directors appointed Ramon F. Garcia & Company, as the Corporation’s new independent external auditors for fiscal year 2020. |
Date of Approval by Board of Directors | Feb 24, 2021 |
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Date of Approval by Stockholders | Sep 14, 2020 |
Previous External Auditor | Punongbayan & Araullo |
New External Auditor | Ramon F. Garcia & Company |
Effective Date of Engagement of New External Auditor | Feb 24, 2021 |
Rationale for Replacement |
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The change in external auditor was made pursuant to the Corporation’s policies on good corporate governance. |
Other Relevant Information |
During the Annual Stockholders' Meeting held on 14 September 2020, the stockholders delegated the appointment of the external auditor of the Company for the year 2020 to the Board of Directors. |
Name | Maureen Christine Lizarondo |
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Designation | Account User |