On 08 September 2023, the Board of Directors of Bright Kindle Resources and Investments, Inc. (the “Company”) approved a property dividend of 509,491,063 common shares with par value of Php 0.10 per share, or an aggregate par value of PhP 50,949,106.30, of the Company’s subsidiary Brightstar Holdings and Development Inc. (“BHDI”) (”Subsidiary"), to be paid at a ratio of one (1) BHDI share for every three (3) common shares of the Company held.
The Board of Directors also declared a Cash Dividend of up to PhP 6,113,896.00 which is approximately 12% of the property dividend value to cover the withholding taxes and expenses of the property dividend.
In the same meeting, the Board authorized the President and management to determine the record date and payment date of the property and cash dividend declarations and the mechanics thereof.
Pursuant to the authority given, the management and the President, Mr. Augusto C. Serafica, Jr., fixed the cash dividend at PhP 0.0037 per share or a total of PhP 5,661,011.81 to be applied to the payment of any withholding taxes on the property and cash dividends thereby declared, if applicable, or otherwise paid to the stockholder. The President also set the record date on 16 October 2023 to be paid within 30 days from the issuance by the Bureau of Internal Revenue of the Certificate Authorizing Registration of the transfer of BHDI shares from the Company to the stockholders as of record date; Provided, that in case a stockholder is entitled to a fractional BHDI share, the Company shall pay for such fraction in cash based on par value. |