Please be advised that during the meeting of the A Brown Company's Board of Directors held in May 2, 2012, the following proposed amendments to the Corporation's Articles of Incorporation were approved:
(a) Increase in Capital Stock
The Seventh Article will be amended to increase the Corporation's authorized capital stock from One Billion Three Hundred Twenty Million Pesos (P1,320,000,000.00) to up to Three Billion Pesos (P3,000,000,000.00).
(b) Increase in Number of Directors
The Sixth Article will be amended to increase the number of directors from seven (7) to nine (9).
(c) Extension of Corporate Term
With the Corporation's corporate term set to expire in December 2016, the same will be extended by another fifty (50) years from the expiry date of the current term.
The proposed amendments will be presented for approval by the shareholders during their annual meeting scheduled on 01 June 2012.
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