SEC Form 20-IS - iRemit Global Remittance

Compensation Plans
As described above, the Company has the SSPP or a stock option plan covering the employees of the
Company who have been in service for at least one (1) calendar year as of June 30, 2007 as well as members
of the Board, resource persons and consultants of the Company. A total of 15,000,000 shares of the
Company, at a par value of PHP1.00 per share, were allocated under the SSPP.
ISSUANCE AND EXCHANGE OF SECURITIES
Authorization or issuance of Securities other than for Exchange
On June 17, 2011, the Board of Directors authorized the declaration of 55,308,800 common shares stock
dividend, with a par value of one peso (PHP 1.00) per share or an aggregate par value of PHP 55,308,800.00,
out of the unrestricted retained earnings of the Company as of December 31, 2010. The stock dividend, which
is equivalent to 10% of the issued and outstanding shares of the Company, was taken from its unissued
capital stock. Pursuant to the provisions of the Corporation Code, the aforementioned stock dividend
declaration was submitted for stockholders’ approval during their annual meeting on July 29, 2011. On
September 6, 2011, the PSE approved the listing of additional 55,308,800 common shares to cover said stock
dividend declaration. On September 08, 2011, the stock dividend was paid to all of the Company’s
stockholders of record as of August 15, 2011.
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