On October 20, 2020, the Board of Directors of The Keepers Holdings, Inc. approved to increase its capital stock to P2 billion with a par value of P0.10 per share from Three Hundred Twenty-Seven Million Six Hundred Thousand Pesos (Php327,600,000.00) divided into One Billion Two Hundred Million (1,200,000) common shares with a par value of Two and Three-Tenths Centavos (Php0.023) per share, and Three Billion (3,000,000,000) preferred shares with a par value of Ten Centavos (Php0.10) per share.
On November 20, 2020, more than 2/3 of the stockholders of the Company approved the said increase of capital stock and change of par value.
On February 19 and March 29, 2021, the Company's Board of Directors approved the issuance of 11,250,000,000 common shares to Cosco Capital, Inc. at P2.00 per share, to be issued from the Company's increase of capital stock, in exchange for Cosco Capital's full ownership in Montosco, Inc., Meritus Prime Distributions, Inc. and Premier Wines and Spirits, Inc. ("Share Swap Transaction").
On May 28, 2021, pursuant to the Share Swap Transaction with Cosco Capital, Inc., more than 2/3 of the Company's stockholders approved the issuance and listing of 11,250,000,000 common shares to Cosco Capital, Inc. and the waiver of the requirement to conduct a rights offering.
On June 30, 2021, the Securities and Exchange Commission approved the Company's increase of capital stock supported by the Share Swap Transaction, the change of par value and the treatment of fractional shares. (For more details of the SEC approval, please refer to Company's Disclosure dated July 7, 2021). |