Euro-Med Laboratories Philippines Inc. Board of Directors approved the increase of investment of 102 E. De Los Santos Realty Co., Inc.

At the special board meeting of Euro-Med Laboratories Philippines Inc. held in March 5, 2012 at 6:00pm, in which a quorum was present throughout, the Board unanimously approved the increase of its investment in its wholly owned subsidiary, 102 E. De Los Santos Realty Co., Inc. ("102 EDSA"), from One Million Five Hundred Thousand Pesos (PhP1,500,000.00) to Two Hundred Ten Million Pesos (PhP210,000,000.00). The increase in capital amounts to Two Hundred Eight Million Five Hundred Thousand Pesos (PhP208,500,000.00) divided into one million two hundred fifty one thousand (1,252,000) shares of Class A and eight hundred thirty four thousand (834,000) shares of Class B with the par value of One Hundred Pesos (PhP100.00) per share. To effect the foregoing, 102 EDSA will increase its authorize capital stock from One Million Five Hundred Thousand Pesos (PhP1,500,000.00) divided into nine thousand (9,000) shares of Class A and six thousand (6,000) shares of class B with the par value of One Hundred Pesos (PhP100.00) per share to Two Hundred Twenty Million Pesos (PhP220,000,000.00) divided into one million three hundred twenty thousand (1,320,000) shares of Class A and eight hundred eighty thousand (880,000) shares of Class B shares with the par value of One Hundred Pesos (PhP100.00) per share. - https://www.affordablecebu.com/