JG Summit Stockholders Approve Equity Fund Raising

The stockholders of JG Summit Holdings Inc. (PSE: JGS) have approved the proposed equity fund raising of the company, consisting of a placing and subscription transaction to be implemented in two concurrent stages comprising of: (1) the offer and sale by the Gokongwei Family of up to 2,087,000,000 of its existing common shares in JGS; and (2) as part of the transaction, the subscription by the Gokongwei Family, and the issuance by company to the Gokongwei Family of new common shares at most in the same number as the shares sold during the offer.

Apart from that, the stockholders also approved the amendment of its Amended Articles of Incorporation to increase its authorized capital stock to PhP14.89 billion and to create voting and non-redeemable preferred shares.

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