The Board on August 19, 2026, approved the amendment of the articles of incorporation of the Corporation, particularly:
a. Article Sixth: for the increase in the number of Directors from seven (7) to nine (9); and
b. Article Seventh: for the increase in the Authorized Capital Stock of the Corporation from One Billion Five Hundred Million Pesos (Php1,500,000,000.00) divided into One Billion Three Hundred Million (1,300,000,000) common stock with a par value of One Peso (Php1.00) per share, and One Billion (1,000,000,000) preferred stock, with a par value of Twenty Centavos (Php0.20) per share to Four Billion Five Hundred Million Pesos (Php4,500,000,000.00) divided into Four Billion Three Hundred Million (4,300,000,000) common stock (“Common Shares”) with a par value of One Peso (Php1.00) per share, and One Billion (1,000,000,000) preferred stock (“Preferred Shares”), with a par value of Twenty Centavos (Php0.20) per share.
The Board on September 8, 2026, amended its resolutions passed on August 19, 2026 for the increase in the Authorized Capital Stock of the Corporation. The increase in the authorized capital stock remains unchanged, but the number of preferred shares will be increased from 1,000,000,000 to 1,300,000,000, while the increase in the number of common shares will be adjusted accordingly.
As amended, the increase in the Authorized Capital Stock of the Corporation will be from One Billion Five Hundred Million Pesos (Php1,500,000,000.00) divided into One Billion Three Hundred Million (1,300,000,000) common stock with a par value of One Peso (Php1.00) per share, and One Billion (1,000,000,000) preferred stock, with a par value of Twenty Centavos (Php0.20) per share to Four Billion Five Hundred Million Pesos (Php4,500,000,000.00) divided into Four Billion Two Hundred Forty Million (4,240,000,000) common stock (“Common Shares”) with a par value of One Peso (Php1.00) per share, and One Billion Three Hundred Million (1,300,000,000) preferred stock (“Preferred Shares”), with a par value of Twenty Centavos (Php0.20) per share.
At the Special Stockholders’ Meeting held today, September 30, 2026, stockholders representing 82.97% of the outstanding capital stock of the Corporation also approved the amendment of the articles of incorporation of the Corporation, particularly:
a. Article Sixth: for the increase in the number of Directors from seven (7) to nine (9); and b. Article Seventh: for the increase in the Authorized Capital Stock of the Corporation from One Billion Five Hundred Million Pesos (Php1,500,000,000.00) divided into One Billion Three Hundred Million (1,300,000,000) common stock with a par value of One Peso (Php1.00) per share, and One Billion (1,000,000,000) preferred stock, with a par value of Twenty Centavos (Php0.20) per share to Four Billion Five Hundred Million Pesos (Php4,500,000,000.00) divided into Four Billion Two Hundred Forty Million (4,240,000,000) common stock (“Common Shares”) with a par value of One Peso (Php1.00) per share, and One Billion Three Hundred Million (1,300,000,000) preferred stock (“Preferred Shares”), with a par value of Twenty Centavos (Php0.20) per share. |