San Miguel board OKs reclassification of shares

By Earl John Alfaro

Jul 11, 2024 12:22 am

SAN MIGUEL Corp.'s (SMC) board of directors has approved changes to the conglomerate's articles of incorporation to reclassify 300 million Series '1' Preferred shares to Series '2' Preferred shares.

The reclassification will allow SMC to issue additional preferred shares as a new Series '2' subseries, it said in a disclosure on Wednesday.

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