08/19/2022 | Press release | Distributed by Public on 08/18/2022 21:28
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding |
COMMON STOCK P10 PAR VALUE | 10,296,601 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
Amendment to Articles of Incorporation |
Background/Description of the Disclosure |
On 19 August 2022, the Board of Directors, through a Special Meeting, approved the amendment of the primary purpose of the Corporation. This amendment will be presented to our stockholders for approval at the annual stockholders' meeting to be held on 15 September 2022. |
Date of Approval by Board of Directors |
Aug 19, 2022 |
Date of Approval by Stockholders | TBA |
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 | TBA |
Date of Receipt of SEC approval | TBA |
Article No. | From | To |
Fourth | To invest in, hold, own, purchase and otherwise acquire interests in corporations, associations, and other entities engaged in the development and business of the chemical industry, its allied industry as well as in agricultural and commercial enterprises; and to provide management, corporate planning, marketing, research and development, technical support and other services necessary or convenient in and about the conduct and operation of the business of such industries and enterprises. | (a) To acquire by purchase, lease, or otherwise, lands or interest in lands and realty, and to own, hold, improve, develop, manage, and operate said land or lands or real estate so acquired, and to erect or cause to be erected on any lands, owned, held, occupied, or acquired by the corporation, buildings and other structures with their appurtenances, and to rebuild, enlarge, alter, improve, or remodel any building or other structures now or hereafter erected on any lands or real estates so owned, held or occupied, or otherwise dispose of any lands or real estate or interests in lands or real estates and in buildings and other structures at any time owned or held by the corporation. |
Rationale for the amendment(s) |
The Corporation intends to prioritize its leasing activities, and as such, it will no longer be engaging in chemical segment. Its line of business will be shifted to authorize it to invest in and/or to engage in real-estate business. |
Expected date of filing the amendments to the Articles of Incorporation with the SEC | TBA |
Expected date of SEC approval of the Amended Articles of Incorporation | TBA |
Effect(s) of the amendment(s) to the business, operations and/or capital structure of the Issuer, if any |
The amendment to the Forth Article of the Articles of Incorporation will allow the Corporation to prioritize its leasing activities, to invest in and/or to engage in real-estate business. |
Other Relevant Information |
- |
Name | Hernan Chua |
Designation | Compliance Officer |