(Last Updated On: October 15, 2021)
In its recent disclosure SPC Power Corporation (SPC) voted and approve to amend the Article II (Primary Purpose) and Article III (Principal Office) of the Amended Articles of Incorporation on August 20, 2021. It was subject to the recent agreement of the stockholders representing more than 2/3 of the outstanding capital stock of the Corporation.
The Board of directors approved last week on allowing the firm to begin on the development and usage of renewable energy or natural resources, including solar, wind, biomass, hydro, geothermal, ocean, wave and other sources of RE, to produce power.
The board also allowed SPC Power Corporation (SPC) to own, lease and develop real or personal properties for the exploration, including land; development, utilizations of natural resources, equity investments and invest in the management of local corporations, partnerships and entities to achieve its primary purpose in production and sales of electricity.
In addition , out of 1,496,551,803 total outstanding capital stock, 1,340,712,165 or 90% casted their votes in favor of the proposed amendments. SPC Power Corporation (SPC) said to transfer the location of its principal office, which will be located along Paseo de Roxas, Makati City. Previously, its head office was located at Cebu Business Park, Cebu City