SEC Form 20-IS - iRemit Global Remittance

15. Equity
- 34 -
Capital Stock
The Parent Company’s capital stock consists of:
2011 2010 2009
Number of
Shares Amount
Number of
Shares Amount
Number of
Shares Amount
Common Stock
Authorized - P=1 par value
per share 1,000,000,000 P=1,000,000,000 1,000,000,000 P=1,000,000,000 1,000,000,000 P=1,000,000,000
Issued:
Balance at beginning
of the year 562,417,000 P=562,417,000 562,417,000 P=562,417,000 562,417,000 P=562,417,000
Stock dividends 55,308,800 55,308,800 – – – –
Balance at end of the year 617,725,800 617,725,800 562,417,000 562,417,000 562,417,000 562,417,000
Treasury stock:
Balance at beginning
of the year (9,329,000) (40,115,150) (9,329,000) (40,115,150) (10,006,200) (40,792,350)
Acquisitions (5,544,000) (12,872,058) – – (130,900) (130,900)
Reissaunce – – – – 808,100 808,100
Balance at end of the year (14,873,000) (52,987,208) (9,329,000) (40,115,150) (9,329,000) (40,115,150)
Issued and outstanding 602,852,800 P=564,738,592 553,088,000 P=522,301,850 553,088,000 P=522,301,850
On September 13, 2007, the SEC approved the registration of 140,604,000 common shares with
offer price of P=4.68 and 454,950,000 outstanding shares with par value of P=1.00. There are 17
registered common stockholders as of December 31, 2011 and 13 registered common stockholders
as of December 31, 2010 and 2009. Shares lodged with the Philippine Central Depository are
registered under the name of PCD Nominee Corporation and as such are treated as being held by
only one shareholder.
Dividends
On March 23, 2009, the BOD of the Parent Company declared cash dividends amounting to
P=26.01 million or P=0.0471 per share, payable to shareholders-of-record as of April 7, 2009.
The declaration was subsequently ratified and confirmed by the Parent Company’ shareholders
during their annual meeting held on July 17, 2009. The payment of dividends was made on
May 6, 2009.
On March 19, 2010, the BOD of the Parent Company declared cash dividends amounting to
P=26.60 million or P=0.0481 per share, payable to shareholders-of-record as of April 8, 2010.
The declaration was subsequently ratified and confirmed by the Parent Company’ shareholders
during their annual meeting held on July 23, 2010. The payment was made on May 5, 2010.
On June 17, 2011, the Board of Directors of the Parent Company authorized the declaration of
stock dividends equivalent to 10% of outstanding shares of 553,088,000 in favor of its
stockholders-of-record as of August 15, 2011. The declaration was subsequently ratified and
confirmed by the Parent Company’s stockholders during their annual meeting held on
July 29, 2011.
Treasury Stock
On August 15, 2008, the Parent Company’s BOD approved the buy-back program to acquire up to
ten million (10,000,000) of its shares, representing approximately 1.87% of the Parent Company’s
total outstanding common shares, from the market. The Parent Company purchased 9,329,000
shares (P=40.12 million) in 2008 under the buy-back program.
*SGVMC116501*