C06748-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Shares | 2,600,778,573 | |
Preferred Shares | 1,000,000,000 |
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Subject of the Disclosure |
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Amendment of Articles of Incorporation |
Background/Description of the Disclosure |
This refers to the amendment of the Seventh Article of the Articles of Incorporation (“AOI”) of Greenergy Holdings Incorporated (the “Company”) in order to increase of authorized capital stock of the Company from Php2,000,000,000.00, divided into: (i) 1,900,000,000 common shares with a par value of Php1.00 per share; and (ii) 1,000,000,000 preferred shares with a par value of 10 centavos per share to Php5,000,000,000.00, divided into: (i) 4,900,000,000 common shares with a par value of Php1.00 per share; and (ii) 1,000,000,000 preferred shares with a par value of 10 centavos per share (the “Application”). |
Date of Approval by Board of Directors |
May 22, 2019 |
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Date of Approval by Stockholders | Dec 11, 2012 |
Other Relevant Regulatory Agency, if applicable | N.A. |
Date of Approval by Relevant Regulatory Agency, if applicable | N/A |
Date of Approval by Securities and Exchange Commission | Sep 17, 2021 |
Date of Receipt of SEC approval | Oct 8, 2021 |
Article No. | From | To | |
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Article VII | Two Billion Pesos (Php2,000,000,000.00), divided into the following: (i) common shares, consisting of one billion nine hundred million (1,900,000,000) shares with a par value of One Peso (Php1.00) for a total par value of One Billion Nine Hundred Million Pesos (Php1,900,000,000.00); and (ii) preferred shares, consisting of one billion (1,000,000,000) shares with a par value of ten centavos (Php0.10) per share for a total par value of One Hundred Million Pesos (Php100,000,000.00). | Five Billion Pesos (Php5,000,000,000.00), divided into the following: (i) common shares, consisting of four billion nine hundred million (4,900,000,000) shares with a par value of One Peso (Php1.00) for a total par value of Four Billion Nine Hundred Million Pesos (Php4,900,000,000.00); and (ii) preferred shares, consisting of one billion (1,000,000,000) shares with a par value of ten centavos (Php0.10) per share for a total par value of One Hundred Million Pesos (Php100,000,000.00). |
Rationale for the amendment(s) |
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To effect the increase of the Company's authorized capital stock |
Expected date of filing the amendments to the Articles of Incorporation with the SEC | Dec 16, 2019 |
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Expected date of SEC approval of the Amended Articles of Incorporation | Oct 8, 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 authorized capital stock of the Company is now increased from Two Billion Pesos to Five Billion Pesos (Php5,000,000,000.00) while the total issued and outstanding shares and paid up-capital of the Company will increase to Two Billion, Six Hundred Million Seven Hundred Seventy Eight Thousand Five Hundred Seventy Three (2,600,778,573) and Two Billion Twenty Six Million Nine Hundred Three Thousand Five Hundred Seventy Three Pesos (Php2,026,903,573.00), respectively. |
Other Relevant Information |
The stockholders of the Company approved the amendment of the Company’s Articles of Incorporation and By-Laws to effect the increase of authorized capital stock from P2 Billion up to an amount not exceeding P10 Billion and delegated the determination thereof to the Board of Directors during the Annual Stockholders’ Meeting held on 11 December 2012, and confirmed such authority at the Annual Stockholders’ Meeting held on 20 December 2017. |
Name | Paula Katrina Nora |
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Designation | Corporate Secretary |