In Re: Petition for Voluntary Revocation

May 21, 2010 SEC-CFD ORDER NO. 150-10 IN RE: PETITION FOR VOLUNTARY REVOCATION GENERAL MILLING CORPORATION , petitioner . ORDER Before the Commission is a Verified Petition for Voluntary Revocation filed by General Milling Corporation (GMC) on June 18, 2008, seeking the revocation of its securities registration. In its Petition, the company cited the following considerations as bases for its request: 1. No sale of the shares was made to the public. The only transaction it entered was to accept the subscription for 66,823,530 of its Class B shares from the Philippine American Life Insurance Co. of Manila, for which subscription, there was paid to it P284,000,002.50. 2. It was never listed in the Philippine Stock Exchange as per Certification dated February 13, 2008 of the PSE. 3. There was never any public offering of the shares of the petitioner, nor does it intend to do so at any time in the future. If there have been transfers, other than the transaction with Philippine American Life Insurance Co.,they were between or among the existing stockholders, officers or heirs or assignees of the original stockholders. In support of its Petition, the company submitted the following: 1. List of shareholders as of May 30, 2008 1 certified by its Assistant Corporate Secretary showing the names of its eighty-four (84) shareholders and indicating their respective shareholdings; CITaSA 2. Directors' Certificate signed by the company's nine (9) directors, certifying that at the meeting of the Board of Directors held on May 27, 2008 a resolution was adopted approving the voluntary revocation of the company's registration of securities and authorizing its Corporate Secretary to file with the SEC the necessary Petition and execute any and all documents necessary therefor. 3. Original Receipt No. 0176849 showing payment of the required filing fee of Five Thousand Fifty Pesos (P5,050.00) on June 18, 2008; 4. Proof of publication of the Notice of Filing of Petition for Voluntary Revocation in the July 8, 2008 issue of The Philippine Star. 2 Finding the instant Petition to have fully complied with SRC Rule 13, the Commission in its meeting on May 20, 2010, resolved to GRANT the same and consequently render the order of Registration of Securities and Permit to Sell Securities to the Public issued in favor of GMC REVOKED. GMC shall henceforth comply with the reporting requirements of the Commission under the Corporation Code for ordinary corporations. It shall no longer be required to comply with the reporting requirements under the SRC and its Implementing Rules and Regulations, unless it qualifies as a public company as defined in SRC Rule 3 (M). Let a copy of this Order be posted in the Commission's official website for the information and guidance of the public. SO ORDERED. May 21, 2010, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Director Footnotes 1. An updated list was also submitted on May 14, 2010. 2. Submitted to the Commission on July 16, 2008.