Amendment to the Amended Rules Governing Pre-emptive and Other Subscription Rights and Declaration of Stock and Cash Dividends
SEC-BED Memorandum Circular No. 02-99 • Securities and Exchange Commission Departments • Markets and Securities Regulation Department (MSRD) • Jun 25, 1999
Full text
June 25, 1999 SEC-BED * MEMORANDUM CIRCULAR NO. 02-99 TO : Registered and/or Listed Companies Philippine Stock Exchange Philippine Association of Stock Transfer and Registry Agencies, Inc. SUBJECT : Amendment to the Amended Rules Governing Pre-emptive and Other Subscription Rights and Declaration of Stock and Cash Dividends The Commission En Banc at its Executive Session held on 15 June 1999, resolved to amend subject Rules by deleting Section 7 thereof, which reads as follows: SECTION 7. No corporation shall be allowed to offer new rights if any portion of its previous rights remain unpaid. In such case, the corresponding call of payment shall instead be made by the Board of Directors. Effectivity . This amendment shall take effect immediately. prcd (SGD.) PERFECTO R. YASAY, JR. Chairman
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.