SEC Form 20-IS - iRemit Global Remittance

September 16, 2011
The Board of Directors authorized the Corporation to establish, open and maintain
securities/investment account(s) with Fidelity Securities, Inc.
The Board of Directors authorized the Corporation to borrow money, arrange and negotiate with East
West Banking Corporation for the grant of a credit line facility, to secure trust receipts, to obtain other
credit facilities, and to enter into and assume any financial undertaking with the Bank, with or without
security, in the aggregate amount of Philippine Pesos: Fifty Million (₱50,000,000.00).
The Board of Directors authorized the Corporation to buy back up to Ten Million (10,000,000) shares
from the public through the facilities of the Philippine Stock Exchange until all the shares have been
purchased or until the Corporation deems that the market price is no longer undervalued.
October 28, 2011
The Board of Directors authorized the Corporation to borrow money, arrange and negotiate with
Union Bank of the Philippines for the grant of a credit line facility, to secure trust receipts, to obtain
other credit facilities, to enter into and assume any financial undertaking with the Bank, with or
without security, in the aggregate amounts of Philippine Pesos: One Billion Seven Hundred Fifty
Million (₱1,750,000,000.00).
The Board of Directors authorized the Corporation to renew its existing bond with Prudential
Guarantee and Assurance Inc., with Policy No. BD-G-16-HOM-0012963 and endorsement number
BD-G16-HOM-0009165A in connection with its accreditation as a non-bank remittance agent by the
Social Security System.
November 18, 2011
The Board of Directors approved the write-off for taxable year 2010 of disallowed creditable input
VAT for the years 2003 and 2004 amounting to P1,338,803.77.
The Board of Directors approved the write-off for taxable year 2011 of disallowed creditable input
VAT for the years 2004 and 2005 amounting to P2,058,615.71.
January 20, 2012
The Board of Directors authorized the Corporation to borrow money, arrange and negotiate with East
West Banking Corporation for the grant of credit line facility, to secure trust receipts, to obtain other
credit facilities, and to enter into and assume any financial undertaking with the Bank, with or without
security, in the aggregate amount of Philippine Pesos: Three Hundred Thirty Million
(P330,000,000.00).
The Board of Directors authorized the Corporation to close its deposit account in United States
Dollars with Union Bank of the Philippines – Emerald Branch for the account of Al Ansari &
Behbehani Exchange Co.
The Board of Directors authorized the Corporation to avail of and enroll in the Optima Online Banking
Facility of Sterling Bank of Asia Inc. in accordance with the terms and conditions imposed by the Bank.
The Board of Directors authorized the Corporation to avail of loans/credit facilities and enter into any
contract or agreement for the purchase or sale of any currency with Equicom Savings Bank up to
the principal amount of Philippine Pesos: Seventy Five Million (P75,000,000.00), or the equivalent
of said amount or any portion thereof in foreign currency; and to enter into any contract for the
renewal and extension of the foregoing transactions, including, wherever necessary, the
restructuring of any loan obligation contracted in connection therewith.
2