Voting Right

All stockholders are entitled to vote following the one-share-one-vote system, except in the election of Directors where cumulative voting is used. Stockholders, whether individual or institutional, are encouraged to personally attend the Annual Stockholders’ Meeting to exercise their voting right, thereby allowing them to individually elect candidates to the Board of Directors and vote on matters requiring stockholder approval. Nevertheless, proxy voting is permitted and is facilitated through proxy forms available in the Company’s website and distributed to stockholders along with the Notice of Meeting. When so authorized by the Board, stockholders may also vote through remote communication or in absentia. The Company shall ensure that there are clear guidelines for participation, appropriate requirements and procedures for in absentia voting by stockholders. Click here for the Company’s Annual Stockholders’ Meeting Voting Procedure.

Inspection Right and Access to Information

All stockholders are given the right to inspect corporate books and records, including but not limited to the minutes of Board meetings and stock registries at reasonable hours on business days in accordance with the Corporation Code of the Philippines and be furnished with copies of the Company’s Annual Report and financial statements, without cost or restrictions. Stockholders may also request the Company to provide periodic reports about its directors and officers, as well as matters for which Management is accountable. Moreover, minority shareholders are granted the right to propose the holding of a meeting, and the right to propose items in the agenda of the meeting, provided the items are for legitimate business purposes, and in accordance with law, jurisprudence and best practice.

Right to Dividend

The policy of the Company is to provide a sustainable dividend stream to its shareholders. The Board of Directors determines the dividend payout taking into consideration the Company’s operating results, cash flows, capital investment needs and debt servicing requirements. Dividends shall be paid within thirty (30) days from the date of declaration.

Appraisal Right

Stockholders may exercise their appraisal right or the right to dissent and demand payment of the fair value of their shares pursuant to Section 80 of Revised Corporation Code of the Philippines. Procedures for the exercise of this right are provided in Definitive Information Statement.