Philippines SEC approves BDO-EPCI legal merger
Banco de Oro wishes to announce that it has been in receipt today of an official notice of approval from the Securities and Exchange Commission of the merger of Banco de Oro Universal Bank and Equitable PCI Bank with BDO as the surviving entity.
Likewise approved were the change in name to Banco de Oro-EPCI, Inc.
as well as an increase in the authorized capital stock of BDO to P65 billion, divided into P5.5 billion common shares and P1 billion preferred shares, all with a par value of P10 per share. According to the official SEC notice, all foregoing approvals are to take effect on Thursday, May 31. BDO’s annual stockholders meeting, scheduled on July 27, and record date, set for June 15, will now become the annual stockholders meeting and record date of the merged institution. –www.theasianbanker.com (May 29 2007)–