ASEAN Corporate Governance Scorecard

Level 1 PRIMARY CGS SECTIONS
A.2.1

Right to participate in decisions concerning fundamental corporate changes. Do shareholders have the right to participate in Amendments to the company's constitution?

Response

YES. Under the Company's Manual on Corporate Governance (Section12 A and B), the stockholders have the right to participate, be informed and vote concerning major decisions such as sale of all, or substantially all, of the corporate assets, increase or decrease in authorized capital stock, changes in primary purpose and amendment to the Articles of Incorporation (AOI) and By-Laws.

Under the AOI, all common shares have equal voting rights.  

In the 2016 Annual Stockholders' Meeting, all shareholders were notified and were able to participate and vote on amendments in the Company's By-Laws to include the Corporate Governance Committee.

 

References:

Company Website

1. Corporate Governance/2016 Annual Stockholders' Meeting/Minutes of Annual Meeting 2016 

2. Manual on Corporate Governance (Section 12 A and B)

3. Articles of Incorporation (Article 7 A3).

4. PSE EDGE Disclosure/Results of Annual Stockholders' Meeting (July 27, 2016)

Office of the Chief Compliance Officer
Tel. (632) 888 3000
Fax. (632) 816 7362
Email: dmcihicorpgov@gmail.com