April 15, 2020
SEC NOTICE
| TO | : | All Interested Parties |
| SUBJECT | : | Draft Memorandum Circular on Stockholders' Meetings and Agenda Items |
The public is invited to submit their comments, feedbacks and inputs on the draft Memorandum Circular on Stockholders' Meetings and Agenda Items on or before 22 April 2020 (Wednesday).
It is requested that comments/inputs be emailed to [email protected] using the template provided.
Issued on April 15, 2020.
ATTACHMENT
SEC MEMORANDUM CIRCULAR NO. ____
Series of 2020
| TO | : | PUBLICLY-LISTED COMPANIES (PLCs) |
| SUBJECT | : | STOCKHOLDERS' MEETINGS AND AGENDA ITEMS |
To promote good corporate governance and the protection of minority investors, the Commission, pursuant to its regulatory power under Section 179 (d) of Republic Act No. 11232 otherwise known as the Revised Corporation Code of the Philippines (RCC) and Administrative Order No. 38, Series of 2013 resolved to issue the following rules:
(1) Shareholders representing at least ten percent (10%) of the outstanding capital stock shall have the right to call for a special stockholders' meeting, subject to the guidelines set under Section 49 of the RCC, as may be applicable.
(2) Shareholders representing at least...
