Remarks | C04292-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
---|---|---|
Common | 3,174,405,821 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
---|
Results of the Special Meeting of the Board of Directors of MJC Investments Corporation (the " Company") held on May 25, 2023 |
Background/Description of the Disclosure |
At the Special Meeting of the Board of Directors of the Company held on May 25, 2023, the Board authorized and approved the conversion into equity of the PhP2,426,501,749.00 deposits for future subscription (“Deposits”) that the Company received from certain stockholders, i.e., (i) HK Strategic Investors and other stockholders, and (ii) Manila Jockey Club, Inc. (collectively, the “Participating Stockholders”) via Private Placement, and other matters relating thereto, including: (a) Issuance of approximately 2.2 billion shares, which is at least 10% of the resulting issued and outstanding shares, subject to the subscription price to be approved by the Board of Directors based on a discount to the 60-day volume weighted average price (VWAP) as of the date of the Company’s Annual Stockholders’ Meeting for year 2023 (the “2023 ASM”), or a premium over its 30-trading day VWAP per share as of the date of the 2023 ASM, and compliance with applicable rules and regulations of the PSE and SEC, including an increase in the Company’s Authorized Capital Stock as necessary; and (b) Subscription by the Participating Stockholders to the shares corresponding to their Deposits. |
Other Relevant Information |
Attached is SEC Form 17-C dated May 25, 2023. |
Name | Lemuel Santos |
---|---|
Designation | Corporate Information Officer |