Change - Amendment to Articles::Shareholders approval of the Amendment to Article Seventh of the Articles of Incorporation

Issuer & Securities

Issuer/ Manager
BANK OF THE PHILIPPINE ISLANDS
Securities
BANKOFPHILIS US$600M4.25%N2309 - XS1841618421 - FNDB
Stapled Security
No

Announcement Details

Announcement Title
Change - Amendment to Articles
Date &Time of Broadcast
17-Jan-2023 21:00:15
Status
New
Announcement Sub Title
Shareholders approval of the Amendment to Article Seventh of the Articles of Incorporation
Announcement Reference
SG230117OTHR4PNC
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)
At the Special Stockholders Meeting held today 17 January 2023, stockholders representing at least two-thirds of the outstanding shares of BPI approved the amendment to Article Seventh of its Amended Articles of Incorporation that was previously approved by the Board of Directors at its meeting on 30 September 2022 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 ff. regulators have also been duly informed of the same:
1. Philippine Stock Exchange (PSE)
https://edge.pse.com.ph/openDiscViewer.do?edge_no=15b67b38cfe31b2f9e4dc6f6c9b65995
2. Philippine Dealing and Exchange Corporation (PDEx)

Please refer to attachments for further details.

Attachments

PSE Form No. 4-3 Amendment of AOI - Annex.pdf
SEC 17-C Results of 17 January 2023 SSM.pdf
Total size =1653K