Article VII |
That the authorized capital stock of the corporation shall be increased to an amount to be determined by the Board of Directors but not exceeding ELEVEN BILLION EIGHT HUNDRED MILLION PESOS (PhP11,800,000,000.00) divided into: a) not exceeding Three Billion (3,000,000,000) Common Shares at One Peso (PhP1.00) per share, and b) not exceeding Eight Billion Eight Hundred Million (8,800,000,000) Serial Redeemable Preferred Shares at PhP1.00 per share and subject to specific features to be determined by the Board of Directors, consisting of Six Billion Seven Hundred Fifty Million (6,750,000,000) Series “A” Serial Redeemable Preferred Shares, One Billion Eight Hundred Million (1,800,000,000) Series “B” Serial Redeemable Preferred Shares, and Two Hundred Fifty Million (250,000,000) Series “C” Serial Redeemable Preferred Shares. |
That the authorized capital stock of the Corporation is SIXTEEN BILLION FOUR HUNDRED MILLION (P 16,400,000,000.00), Philippine Currency, divided into ONE BILLION FIVE HUNDRED MILLION (1,500,000,000) shares of Common Stock with par value of One Peso (P1.00) per share; and TWO HUNDRED THIRTY MILLION (230,000,000) Serial Cumulative Convertible Redeemable Preferred Stock with a par value of Ten Pesos (P 10.00) per share; SEVEN BILLION FOUR HUNDRED FIFTY SIX MILLION (7,456,000,000) Series “A” Serial Redeemable Preferred Stocks with par value of One Peso (P1.00) per share; FOUR BILLION TWO HUNDRED NINETY TWO MILLION (4,292,000,000) Series “B” Serial Redeemable Preferred Stocks with par value of One Peso (P1.00) per share; |
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Article VII - continuation |
The Series “A”, “B”, and “C” Serial Redeemable Preferred Stocks shall have no voting rights. The rest of the rights and features of the Series “A”, “B”, and “C” Serial Redeemable Preferred Stocks may be stipulated and determined at the discretion of the Board of Directors in accordance with all applicable laws, rules, and regulations. |
and EIGHT HUNDRED FIFTY TWO MILLION (852,000,000) Series “C” Serial Redeemable Preferred Stocks with par value of One Peso (P1.00) per share; |
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