On 7 June 2021, the Securities and Exchange Commission (“SEC”) approved the increase in the Company's authorized capital stock from Php24.4 Billion to Php48.4 Billion, and the issuance by the Company to AC Energy and Infrastructure Corporation ("ACEIC") of 16,685,800,533 common shares (the "Additional ACEIC Shares") in exchange for ACEIC’s 1,701,284,345 common shares and 15,030,279,000 redeemable preferred shares in AC Energy International, Inc..
In view of the foregoing issuance of shares, the number of the Company's issued and outstanding common shares are 38,240,338,177 and 38,225,838,177, respectively. The Company has a total of 14,500,000 treasury shares.
As confirmed by the Company's Stock Transfer Agent, the Additional ACEIC Shares have been duly recorded in the books of the Company. The Company is in the process of listing these shares. |