C06232-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 2,013,409,717 | |
Preferred | 97,126,010 |
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Subject of the Disclosure |
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Amendment of Article Seventh of the Articles of Incorporation |
Background/Description of the Disclosure |
On February 26, 2021, the Board of Directors approved the following resolutions: 1) increasing the Corporation's authorized capital stock to Five Billion Eighty Million Pesos (Php5,080,000,000.00); 2) increasing the Corporation's authorized capital stock of preferred shares by Twenty-Six Million (26,000,000) shares to a total of One Hundred Fifty Million (150,000,000) shares; and 3) amending Article Seventh of the Corporation's Articles of Incorporation. |
Date of Approval by Board of Directors |
Feb 26, 2021 |
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Date of Approval by Stockholders | May 21, 2021 |
Other Relevant Regulatory Agency, if applicable | Not applicable |
Date of Approval by Relevant Regulatory Agency, if applicable | N/A |
Date of Approval by Securities and Exchange Commission | Sep 9, 2021 |
Date of Receipt of SEC approval | Sep 10, 2021 |
Article No. | From | To | |
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Seventh | That the authorized capital stock of the corporation is FIVE BILLION FIFTY-FOUR MILLION PESOS (Php5,054,000,000.00) in lawful money of the Philippines, divided into the following classes: 1. FOUR BILLION NINE HUNDRED THIRTY MILLION (4,930,000,000) voting common shares with the par value of ONE PESO (P1.00) peso per share; and 2. ONE HUNDRED TWENTY-FOUR MILLION (124,000,000) cumulative, non-voting, non-participating, non-convertible, perpetual preferred shares with the par value of ONE PESO (P1.00) per share. | That the authorized capital stock of the corporation is FIVE BILLION EIGHTY MILLION PESOS (Php5,080,000,000.00) in lawful money of the Philippines, divided into the following classes: 1. FOUR BILLION NINE HUNDRED THIRTY MILLION (4,930,000,000) voting common shares with the par value of ONE PESO (P1.00) peso per share; and 2. ONE HUNDRED FIFTY MILLION (150,000,000) cumulative, non-voting, non-participating, non-convertible, perpetual preferred shares with the par value of ONE PESO (P1.00) per share. |
Rationale for the amendment(s) |
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The increase in authorized capital stock will allow Megawide to issue an additional 26,000,000 cumulative, non-voting, non-participating, non-convertible, perpetual preferred shares with the par value of One Peso (P1.00) per share. |
Expected date of filing the amendments to the Articles of Incorporation with the SEC | May 28, 2021 |
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Expected date of SEC approval of the Amended Articles of Incorporation | Sep 10, 2021 |
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any |
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The total authorized capital stock will increase to Php5,080,000,000.00, while the authorized capital stock for preferred shares will increase to Php150,000,000.00. |
Other Relevant Information |
This Report was amended to update the Background/Description of the Disclosure. |
Name | Kimberly Bisnar |
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Designation | Assistant Corporate Secretary |