Notice of annual meeting of stockholders
Due to CoVID-19 health concerns, Petron will conduct its annual stockholders’ meeting through livestreaming. Stockholders can attend the meeting by remote communication and vote by ballot or proxy. For more details, please visit www.petron.com.
The annual meeting of the stockholders of Petron Corporation (the “Company”) will be held on June 2, 2020, Tuesday, at 2:00 p.m. and will be conducted virtually and streamed live through https://www.petron.com/2020asm, which is also accessible through the Company website.
The agenda of the meeting are as follows:
- Call to Order
- Report on Attendance and Quorum
- Review and Approval of the Minutes of the Previous Annual Stockholders’ Meeting
- Management Report and Submission to the Stockholders of the 2019 Financial Statements
- Ratification of All Acts of the Board of Directors and Management
Since the 2019 Annual Stockholders’ Meeting
- Appointment of an External Auditor and Ratification of External Auditor Fees
- Election of the Board of Directors for the Ensuing Term
- Other Matters
Attendance only via Remote Communication; Voting; Questions through Dedicated Email Address
The full version of the Definitive Information Statement (SEC Form 20-IS) issued by the Company for this meeting, together with all its annexes including the 2019 consolidated audited financial statements of the Company, has been posted on the company website www.petron.com.
Due to CoVID-19 health concerns, the Company will not hold a physical meeting and will instead conduct the meeting through livestreaming. Stockholders can therefore only attend the meeting by remote communication. Stockholders intending to attend the meeting by remote communication should notify the Company by email to [email protected] by May 26, 2020 at 12 noon. The procedure and further details for attending the meeting through remote communication are set forth in Appendix 1 of the notice in the Definitive Information Statement.
Votes will be cast through ballots or proxies. The deadline for the submission of ballots and proxies is on May 19, 2020. For your convenience, a sample of a ballot/proxy is attached to the Definitive Information Statement. Ballots and proxies may be sent through email at [email protected] or by mail to the office of SMC Stock Transfer Service Corporation at the 2nd Floor, SMC Head Office Complex, 40 San Miguel Avenue, Mandaluyong City. Validation of ballots and proxies will be on May 26, 2020 at 2:00 p.m. at the above office of SMC Stock Transfer Service Corporation Office. The procedure and further details relating to ballots and proxies are also set forth in Appendix 1 of the notice in the Definitive Information Statement.
Questions and comments to the Board of Directors and/or Management may be sent in advance of, or during, the meeting by email to [email protected].
Rationale for Agenda; Dividend Policy; Draft Minutes
Please refer to Appendix 2 of the notice in the Definitive Information Statement for a brief discussion of and the rationale for the above agenda items. The dividend policy of the Company is discussed in the Definitive Information Statement. The draft of the minutes of the annual stockholders’ meeting held in 2019 has been posted on the company website www.petron.com.
Annual Report on SEC From 17-A and Interim Unaudited Financial Statements on SEC From 17-Q
The Company’s annual report (on SEC Form 17-A) and its interim unaudited financial statements for the first quarter of 2020 (on SEC Form 17-Q) will be posted on the company website www.petron.com and disclosed via the PSE Electronic Disclosure Generation Technology of the Philippine Stock Exchange by May 28, 2020. Upon the written request of a stockholder and when circumstances permit, the Company will provide such stockholder with a copy of the annual report and/or the interim unaudited financial statements.
You can scan this QR Code for quick access to the Definitive Information Statement or go to: https://www.petron.com/wp-content/uploads/2020/04/Petron-Definitive-Information-Statement-2020-ASM-as-filed-with-SEC-on-April-27-2020.pdf
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