Change - Amendment to Articles::BSP approval of the amendment to Article Seventh of the Amended AOI of BPI

Issuer & Securities

Issuer/ Manager
BANK OF THE PHILIPPINE ISLANDS
Securities
BANKOFPHILISUS$300M2.5%N240910 - XS2050923825 - GQDB
Stapled Security
No

Announcement Details

Announcement Title
Change - Amendment to Articles
Date &Time of Broadcast
28-Dec-2023 09:38:11
Status
New
Announcement Sub Title
BSP approval of the amendment to Article Seventh of the Amended AOI of BPI
Announcement Reference
SG231228OTHRRRU2
Submitted By (Co./ Ind. Name)
Maria Ramona O. Ang
Designation
Investor Relations Officer
Description (Please provide a detailed description of the event in the box below)
On December 21, 2023, the Bangko Sentral ng Pilipinas (BSP) approved the application of BPI for the amendment to Article Seventh of its Amended Articles of Incorporation to:

a. Increase BPI s Authorized Capital Stock in the amount of Four Billion Pesos (Php4,000,000,000.00) or from Fifty Billion Six Hundred Million Pesos (Php50,600,000,000.00) to Fifty Four Billion Six Hundred Million Pesos (Php54,600,000,000.00) divided into Common Stock consisting of Five Billion Four Hundred Million (5,400,000,000) shares with a par value of Ten Pesos (Php10.00) per share and Preferred Stock consisting of Sixty Million (60,000,000) Preferred A shares with a par value of Ten Pesos (P10.00) per share;
b. Combine the allocation of authorized common shares for Executive Stock Option Plan and Stock Purchase Plan into a three percent (3%) allocation for all employee stock incentive plans; and
c. Deny the pre-emptive rights over the Four Hundred Six Million One Hundred Seventy-Nine Thousand Two Hundred Seventy-Six (406,179,276) treasury shares which shall be disposed of by BPI in accordance with Republic Act No. 8791, otherwise known as the General Banking Law of 2000.

The amendment is subject to the approval of the Securities and Exchange Commission (SEC).

The following approvals of the amendment were likewise secured:
By the Board of Directors on September 30, 2022
By stockholders representing at least 2/3 of the outstanding common shares on January 17, 2023.

The disclosure is amended to reflect the approval of the BSP dated 21 December 2023. The notice of approval was received by BPI on 22 December 2023.

The ff. regulators have also been duly informed of the same:
1. Philippine Stock Exchange (PSE)
https://edge.pse.com.ph/openDiscViewer.do?edge_no=d5d576611fcf9deb9e4dc6f6c9b65995
2. Philippine Dealing and Exchange Corporation (PDEx)

Please refer to attachments for further details.

Attachments

PSE Form No. 4-3 Annex.pdf
SEC 17C - BSP Approval.pdf
Total size =694K