PNOC EC Holds Annual Stockholders Meeting

DOE Sec. Alfonso G. Cusi (second from right), Chairman Ex Officio, presides over the 2018 PNOC EC Annual Stockholders Meeting. Also In the picture are, from left: Armin Noel B. Villamonte, Assistant Corporate Secretary, Lila Czarina Aquitania, and Pedro A. Aquino, Jr., President and CEO

PNOC EC HOLDS ANNUAL STOCKHOLDERS MEETING

Taguig City – PNOC Exploration Corporation, the oil, gas, and coal exploration and development arm of the Government, held its Annual Stockholders Meeting on Monday, 3 July, 2018 at the company’s head office in Fort Bonifacio, Taguig City.

Energy Secretary Alfonso G. Cusi, Chairman Ex Officio of the Board of Directors, presided over the meeting.

PNOC EC maintained its sound and efficient financial management in 2017, with total revenues of P4.38 billion, 8% higher than the previous year.

Sec. Cusi congratulated the Company for its good performance.

Among the other important items discussed were:

1. Request for approval to amend the Third Article of the Articles of Incorporation on PNOC EC’s principal office address, pursuant to SEC Memorandum Circular No. 6, Series of 2014
2. Request for approval to amend the Fourth Article of the By-Laws on PNOC EC’s modes of notifying directors in holding meetings
3. Request for approval to amend the Sixth Article of the By-Laws on PNOC EC’s ex officio Chairperson, pursuant to Executive Order No. 39, Series of 2017
4. Ratification of Acts, Resolutions and Proceedings of the Board of Directors and Management since the last Stockholders’ Meeting
5. Announcement of Appointive Directors