Draft Memorandum Circular on Stockholders' Meetings and Agenda Items

April 15, 2020SEC NOTICETO :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.ATTACHMENTSEC MEMORANDUM CIRCULAR NO. ____Series of 2020TO :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 five percent (5%) of...