ASEAN Corporate Governance Scorecard

Level 1 PRIMARY CGS SECTIONS
E.3.4

Does the company require a minimum quorum of at least 2/3 for board decisions?

Response

YES. On May 14, 2015 the Board of Directors approved the amendment of the By-Laws to indicate that decisions of the Board shall require the affirmative vote of at least 2/3 of the members of the board.  Likewise, the stockholders of the Company approved it last July 29, 2015 during its Annual Stockholders Meeting.  The SEC then approved the amendments to By-Laws on October 26, 2015. 

 

Reference:

1. SEC Form 17-C  - Board Meeting Results dated May 14, 2015

2. Annual Stockholders Meeting Results - July 29, 2015

3. PSE EDGE Disclosure/Amendments to By-Laws, October 26, 2015

4. Website/Corporate Governance/Board Goveranance/Board Meetings and Quorum Requirement

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