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RE: Shares Previously under Escrow, Liquidation; Condonation of Corporate Rights

RE: Shares Previously under Escrow, Liquidation; Condonation of Corporate Rights

SEC OGC Opinion No. 19-60 | 2019-12-20

Republic of the Philippines
Department of Finance
Securities and Exchange Commission
 
OFFICE OF THE GENERAL COUNSEL
 
20 December 2019
 
SEC-OGC Opinion No. 19-60
RE: Shares Previously under Escrow, Liquidation;
Condonation of Corporate Rights
 
ATTY. FRANCES CM AGUINDADAO-ARABE
Corporate Secretary
Universal Leisure Club, Inc.
Unit 703 Globe Telecom Plaza II,
Cor. Madison and Pioneer Sts.,
Mandaluyong City
 
Dear Ms. Aguindadao-Arabe:
 
We write in response to your letter dated 14 September 2014 requesting for an opinion regarding the (1) validity and inclusion of the shares of stock acquired through a Development Agreement which...