Wednesday, April 12, 2017

Certificate of Increase of Authorized Capital Stock



CERTIFICATE OF INCREASE OF AUTHORIZED CAPITAL STOCK

OF

(NAME OF CORPORATION)

KNOW ALL MEN BY THESE PRESENTS:

          That, we the undersigned, the Chairperson and the Secretary of the stockholders meeting and majority of the members of the Board of Directors of the above-named corporation, organized and existing under and by virtue of the laws of the Republic of the Philippines do herebey CERTIFY:

1.   That at the meeting of the stockholders of the said corporation held at the principal office on (Date of Stockholders Meeting), at which meeting there was a quorum, the stockholders representing at least two-thirds (2/3) of the outstanding capital stock in person or by proxy, approved the increase of the corporation's authorized capital stock from

(AMOUNT OF CURRENT CAPITAL STOCK IN WORDS) (PhP AMOUNT OF CURRENT CAPITAL STOCK IN FIGURES) divided into (NUMBER OF SHARES IN WORDS AND FIGURES - e.g. ONE THOUSAND [1,000]) shares, with par value of (PAR VALUE IN WORDS - e.g. ONE THOUSAND PESOS) (PhP PAR VALUE IN FIGURES - e.g. PhP1,000.00) per share to

(AMOUNT OF INCREASED CAPITAL STOCK ON WORDS) (PhP AMOUNT OF INCREASED CAPITAL STOCK IN FIGURES) divided into (NUMBER OF SHARES IN WORDS AND FIGURES - e.g. TWENTY THOUSAND [20,000]) shares, with par value of (PAR VALUE IN WORDS - e.g. ONE THOUSAND PESOS) (PhP PAR VALUE IN FIGURES - e.g. PhP1,000.00) per share;


2.   That the increase was likewise approved by at least majority of the directors at the meeting held on (Date of Board of Directors Meeting);

3.   That of the net increase in the authorized capital stock of (AMOUNT IN WORDS OF NET INCREASE - e.g. NINETEEN MILLION PESOS) (PhP AMOUNT IN FIGURES OF NET INCREASE - e.g. PhP19,000,000.00) the amount of (AMOUNT IN WORDS) (PhP AMOUNT IN FIGURES) has been actually subscribed by the subscribers indicated hereunder, and of said subscription, the amount of (AMOUNT IN WORDS) (PhP AMOUNT IN FIGURES) has been actually paid in cash / real property / machineries and equipment / stock dividend / via conversion of liabilities into equity; as follows:


Name of Subscriber     Nationality    Subscribed     Amount      Amount
  No. of Shares                       Paid







4.   That the actual indebtedness of the corporation as of the date of the stockholders meeting amounts to PhP (AMOUNT IN FIGURES);

5.   That no bonded indebtedness has been incurred, created or increased as of the date of the stockholders meeting;

6.   That the reason for the increase of capital stock is (State reasons if any);

7.   That the requirements of Sec. 38 of the Corporation Code of the Philippines has been complied with.


          IN WITNESS WHEREOF, we have hereunto set our hands this (Date) at (Place).


(NAME OF CHAIRMAN)
Chairman of the Board
TIN

(NAME OF DIRECTOR)                                     (NAME OF DIRECTOR)
Director                                                                  Director
TIN                                                                         TIN

(NAME OF DIRECTOR)                                     (NAME OF DIRECTOR)
Director                                                                  Director
TIN                                                                         TIN

(NAME OF DIRECTOR)                                     (NAME OF DIRECTOR)
Director                                                                  Director
TIN                                                                         TIN



ATTEST:

(NAME OF PRESIDENT)
President


(NAME OF CORPORATE SECRETARY)
Corporate Secretary


Republic of the Philippines  )

City of (Place)                        ) S.S.
 


ACKNOWLEDGMENT

          Before me a Notary Public for and in the City of (Place), this (Date), personally appeared the following:

Name                  TIN/ID/Passport No.                       Date & Place Issued




known  to me to and to me known to be the same persons who executed the foregoing certificate, who acknowledged to me that the same is their true and voluntary act and deed.

          WITNESS MY HAND AND SEAL on the date and place first above written.


Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.


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