Rights of Our Stakeholders
Rights of Our Shareholders
- First Gen Corporation, as a publicly-listed corporation in the Philippine Stock Exchange, Inc., subscribes to all the rules and regulations of the Philippine Securities and Exchange Commission (SEC) and the Philippine Stock Exchange, Inc. (PSE), including those concerning the development of the Philippine capital market.
- In helping to develop the Philippine capital market, First Gen assumes an open and welcoming attitude towards both retail and institutional investors who wish to purchase shares of our company through the PSE.
- It is the policy of our company to comply with the requirement of the PSE to maintain a minimum public float of our shares openly traded in the exchange.
- In line with our desire to attract institutional investors, we facilitate their attendance and participation at our Annual General Meeting (AGM). We hold our AGM at a place that is easily accessible to investors, including institutional investors.
- Our company adopts a policy of respecting the rights of shareholders to participate and vote in our AGM.
- The Corporate Secretary shall issue the call for the AGM to all shareholders at least 25 business days before the date set for the AGM.
- The call for the AGM shall specify the time and place for the meeting, and contain the proposed agenda for the meeting.
- Our company does not put up barriers or impediments that prevent shareholders from consulting or communicating with one another.
- Shareholders may vote in person or by proxy. Arrangements for proxy voting or voting in absentia should be in line with pertinent rules and regulations.
- The company adopts the policy of asking shareholders to vote on matters of fundamental importance such as amendments to the articles of incorporation and by-laws; extending or shortening of corporate term; changing or restricting the rights of any class of shares; sale, lease, exchange, mortgage, pledge or other disposition of all or substantially all of the corporate property; incurring, creating or increasing bonded indebtedness; increase or decrease of capital stock; merger or consolidation of the corporation with another corporation or other corporations; investment of corporate funds in another corporation or business in accordance with the provisions of the Corporation Code of the Philippines; and dissolution of the corporation.
- Shareholders are given the right to approve the appointment of the company’s External Auditors.
- The company welcomes the participation of all shareholders by giving them the opportunity to ask and receive answers to questions of relevance to the corporation, its performance and prospects.
- The minutes of the AGM shall include at least a summary of the questions asked and answers given to those questions.
- Our company adopts a dividend policy and any changes to that policy shall be disclosed.