Euro-Med Board Approves Additional Investment in Subsidiary

The board of directors of Euro-Med Laboratories Phil. Inc. (PSE: EURO) approved the additional investment in its wholly owned subsidiary, CafeFrance Corp. doing business under the name and style of Flavours of China, Tempura Japanese Grill, Holy Cow! Steak and American Grill, Karate Kid, KidoManga, Congo Grille, by converting a portion of the advances made to the latter in the amount of PhP400 million into equity equivalent to 400 million common shares.

This matter shall be submitted for ratification of the shareholders at the annual stockholders’ meeting of the corporation for 2019.