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Argentina to help low-income earners cope with inflation

REUTERS

BUENOS AIRES — Argentina’s government said on Monday the country’s neediest would get help to cope with soaring prices as part of a special aid program that will be financed with taxes on business experiencing unexpected gains from the Ukraine war.

Workers included in the measure will receive 18,000 pesos ($158) in two installments and retirees will receive 12,000 pesos ($106) in one installment.

The government said it will fund the bonuses with a tax on companies that saw “unexpected income” generated by the war in Ukraine. This includes grain exports and would affect companies with profits over 1 billion pesos ($9 million) a year.

A bonus will be granted to compensate for inflation, making purchasing power grow (…) The war in Ukraine puts pressure on inflation and it is necessary to reinforce the income policy,” Economy Minister Martin Guzman said while presenting the plan alongside President Alberto Fernandez.

The government did not report the total cost of the program or give any details on the tax rate. The proposal still needs approval from congress.

Last week Argentina announced that monthly inflation for March was 6.7%, the highest in two decades. The annual inflation rate rose to 55.1% in March.

“There is an urgency in the most neglected sectors of society,” Mr. Fernandez said. “Inflation has local and international problems.” — Reuters

US will no longer enforce mask mandate on airplanes, trains after court ruling

UNSPLASH

WASHINGTON/CHICAGO — The Biden administration will no longer enforce a US mask mandate on public transportation, after a federal judge in Florida on Monday ruled that the 14-month-old directive was unlawful, overturning a key White House effort to reduce the spread of coronavirus disease 2019 (COVID-19).

Soon after the announcement, all major carriers including American Airlines, United Airlines and Delta Air Lines, as well as national train line Amtrak relaxed the restrictions effective immediately. 

Last week, US health officials had extended the mandate to May 3 requiring travelers to wear masks on airplanes, trains, and in taxis, ride-share vehicles or transit hubs, saying they needed time to assess the impact of a recent rise in COVID-19 cases caused by the airborne coronavirus. 

Industry groups and Republican lawmakers balked and wanted the administration to end the 14-month-old mask mandate permanently. 

The ruling by US District Judge Kathryn Kimball Mizelle, an appointee of President Donald Trump, came in a lawsuit filed last year in Tampa, Florida, by a group called the Health Freedom Defense Fund. It follows a string of rulings against Biden administration directives to fight the infectious disease that has killed nearly one million Americans, including vaccine or test mandates for employers. 

Judge Mizelle said the US Centers for Disease Control and Prevention (CDC) had exceeded its authority with the mandate, had not sought public comment and did not adequately explain its decisions. 

A US administration official said while the agencies were assessing potential next steps, the court’s decision meant CDC’s public transportation masking order was no longer in effect. The administration could still opt to appeal the order or seek an emergency delay in the order’s enforcement. 

“Therefore, TSA will not enforce its Security Directives and Emergency Amendment requiring mask use on public transportation and transportation hubs at this time,” the official said in a statement. 

“CDC recommends that people continue to wear masks in indoor public transportation settings.” 

The Transportation Security Administration said it will rescind the new Security Directives that were scheduled to take effect on Tuesday. 

The ruling comes as COVID-19 infections rise again in the United States, with 36,251 new infections reported on average each day, and 460 daily deaths, based on a seven-day average — the highest number of reported total COVID-19 deaths in the world. 

The White House called the ruling “disappointing.” 

The CDC first issued a public health order requiring masks in interstate transportation in February 2021. The TSA issued a security directive to enforce the CDC order. 

The CDC and Federal Aviation Administration (FAA) declined to comment. 

United Airlines, American, Delta, Southwest Airlines, JetBlue and Alaska Airlines said masks are now optional on their planes. 

“We are relieved to see the US mask mandate lift to facilitate global travel as COVID-19 has transitioned to an ordinary seasonal virus,” Delta said. The World Health Organization warned against comparing the virus to an endemic illness like the flu earlier this year, noting it is evolving too quickly. 

The move could impact travel demand, which has roared back after a blip caused by the Omicron coronavirus variant. US passenger traffic has been averaging about 89% of the pre-pandemic levels since mid-February, according to TSA data. 

With the COVID-19 case count rising again, lifting the mandate could make some passengers wary, while prompting others to fly again. 

Only 36% of Americans think it’s time for people to stop using masks and quarantines so that life can get back to normal after COVID-19, according to a Reuters/Ipsos poll conducted between Jan. 31 and Feb. 7. However, while a mere 16% of Democrats hold this view, a whopping 60% of Republicans do, according to the poll. 

Delta Chief Executive Officer Ed Bastian last week acknowledged the risk, but said the airline still expected its flights to be full. 

“It’s a question of individual accountability, personal accountability, making your own decisions rather than the government making decisions for people as to how to stay well,” Mr. Bastian told Reuters in an interview. 

On Monday, Delta asked its employees to show “understanding and patience” as the unexpected nature of the announcement could result in “inconsistent” enforcement. 

Since January 2021, there have been a record 7,060 unruly passenger incidents reported, 70% involving masking rules, according to the FAA. Thousands of passengers have been put on “no-fly” lists for refusing to comply with masking requirements. 

Alaska said some passengers will remain banned, even after the mask policy is rescinded. — Reuters

Japan researchers develop electric chopsticks to enhance salty taste

MEIJI UNIVERSITY

TOKYO — Japanese researchers have developed computerized chopsticks that enhance salty tastes, potentially helping those who need to reduce sodium in their diets. 

Co-developed by Meiji University professor Homei Miyashita and beverage maker Kirin Holdings Co., the chopsticks enhance tastes using electrical stimulation and a mini-computer worn on a wristband. 

The device uses a weak electrical current to transmit sodium ions from food, through the chopsticks, to the mouth where they create a sense of saltiness, said Mr. Miyashita. 

“As a result, the salty taste enhances 1.5 times,” he said. 

Mr. Miyashita and his lab have explored various ways that technology can interact with and stimulate human sensory experiences. He’s also developed a lickable TV screen that can imitate various food flavors. 

The taste-enhancing chopsticks may have particular relevance in Japan, where the traditional diet favors salty tastes. The average Japanese adult consumes about 10 grams of salt per day, double the amount recommended by the World Health Organization. 

Excess sodium intake is related to increased incidence of high blood pressure, strokes and other ailments. 

“To prevent these diseases, we need to reduce the amount of salt we take,” said Kirin researcher Ai Sato. 

“If we try to avoid taking less salt in a conventional way, we would need to endure the pain of cutting our favorite food from our diet, or endure eating bland food.” 

Miyashita and Kirin are refining their chopsticks prototype and hope to commercialize them as early as next year. — Reuters

Hong Kong zero-COVID policies create mountains of plastic waste

UNSPLASH

HONG KONG — Hong Kong arrivals meet plastic everywhere in quarantine hotels: Remote controls are wrapped in cellophane, pillows are encased in plastic bags, food comes with plastic cutlery. 

Hong Kong’s strict quarantine policies — intended to halt coronavirus disease 2019 (COVID-19) at the border and in the community — have been criticized for damaging the economy and mental health. Environmentalists say the policies are also hurting the environment by generating excess waste. 

“Every single one of the staff members here wears full PPE … the gowns, the gloves, the booties, the hats, and that’s every staff member and on every floor,” said Hong Kong-based skincare entrepreneur Clementine Vaughan, who flew into the city on April 4. 

“The phones, you know, the remote controllers, everything’s been cellophane-wrapped,” she said, speaking to Reuters from her quarantine hotel. 

Hong Kong disposes of over 2,300 tonnes of plastic waste a day, and with a recycling rate of just 11%, according to government figures, most of it goes into landfills. 

A government spokesperson said officials were aware of a surge in disposable waste since COVID began, urging people to adopt a green lifestyle as far as possible. 

Edwin Lau, with local environmental group The Green Earth, said Hong Kong’s approach to COVID reflected its lack of environmental awareness. 

“People living in quarantine hotels, they are not confirmed cases,” Mr. Lau said, urging the government to allow the recycling or reuse of plastics from quarantine facilities. 

Hong Kong, one of the few places that holds to a zero-COVID policy, has quarantined tens of thousands of people this year in facilities for the COVID-positive and near contacts. 

The facilities add to the waste problem, with residents confirming to Reuters all meals came in plastic bags. 

Paul Zimmerman, an elected district councilor, said the facilities are also wasteful because they can’t be used long-term, such as for public housing. 

“They’ve been built very quickly … (and don’t) comply with any particular building standards we have in Hong Kong.” — Reuters

China’s Xi sticks with COVID stance despite anger, economic headwinds

REUTERS

BEIJING — For many leaders, mounting public anger and a rapidly worsening economic outlook would be cause for worry and a policy rethink.

But Chinese President Xi Jinping, who doubtless would prefer smoother sailing in the run-up to a third leadership term, is doubling down on a signature “dynamic zero” coronavirus disease 2019 (COVID-19) policy that has been increasingly tested by the more infectious Omicron variant.

Mr. Xi’s high-profile reiteration of the policy, made last week during a visit to the southern island of Hainan that capped days of state-media support for it, reflects a political imperative not to reverse course and look weak in a year in which he needs to appear strong, analysts said.

It also points to the absence of attractive alternatives, beyond tweaks and refinements, given the lack of herd immunity and a shaky healthcare system in China, which until recently kept COVID at bay after fumbling the outbreak when it first emerged in late 2019 in Wuhan city.

China has also made much of the dangers of COVID and how it has ravaged populations elsewhere, and changing course would require an awkward reversal of messaging to a public conditioned to view the coronavirus with horror.

“Persevering in China’s own answers to shocks, rather than import answers found by the West, seems to be his thinking,” said Alicia Garcia-Herrero, chief economist for Asia Pacific at Natixis.

“This includes ‘dynamic zero COVID’ policy versus the Western approach of pursuing herd immunity,” she said.

Mr. Xi’s loyalty to the policy, despite widespread public anger with it, also reflects the security of his position in the absence of internal opposition as he strides towards a precedent-breaking third term at this autumn’s once-in-five-years Communist Party conclave.

“Looking at the number of people from across different backgrounds who spoke up and the intensity of their expression, this has been the most massive public display of anger since Xi came to power in 2012,” said Yang Chaohui, a political science lecturer at the prestigious Peking University.

“But the public discontent is fragmented and doesn’t amount to a momentum that can impact Xi,” he said.

CURE WORSE THAN DISEASE? 

China’s COVID policy, under which every infected person, symptomatic or not, has to go into quarantine, long had public support but now faces pushback from fed-up residents and businesses in Shanghai and elsewhere who argue that the costs are starting to outweigh the benefits, especially as most cases are without symptoms.

While Shanghai had until this week not reported any deaths from COVID-19 during its recent outbreak, numerous social media users have posted stories of people who perished from other causes during the city’s lockdown. Consumption, supply chains and employment have been battered.

Many people, including the well-off who are accustomed to international travel but have been grounded by two years of nearly closed borders, have grown increasingly exasperated with zero-COVID as other countries try to live with the virus.

But while Shanghai residents have vented frustration online and scuffled with officials, curbs on movement, state control of media, censorship and the speed with which China quashes protests means such outcry is unable to gain traction.

“The CCP leadership has decided for a long time to keep Xi as number one,” said Jean-Pierre Cabestan at Hong Kong Baptist University, referring to the Chinese Communist Party.

“Xi and his faction will find any kind of reasons or excuses to protect him and put the blame of any weakness or mistake on lower-level officials,” he said.

Unlike in democracies, where public discontent manifests itself in opinion polls and votes, it poses a danger to leaders in authoritarian regimes only when leveraged by an opponent, said Chen Daoyin, a former associate professor at Shanghai University of Political Science and Law and now a commentator based in Chile.

“Since Xi has already removed all viable opponents, the public anger now can’t do much to him,” he said.

The original COVID outbreak in Wuhan, which sparked fear and online protest, ended up doing little political damage to Mr. Xi, with the government ultimately spinning its response as a win.

Many lower-level officials fared less well, which partly explains the speed with which cities now impose COVID restrictions.

Before Shanghai’s outbreak, its party chief, Li Qiang, was widely expected to be promoted to the highest power echelon, the Politburo Standing Committee, where he would be a key ally for Mr. Xi in his third term.

“If Li gets punished for the Shanghai outbreak, it could mess up Xi’s planned lineup for the party’s next generation leadership,” said Chen.

While city-level officials elsewhere have been fired or censured after outbreaks, only very low-level officials in Shanghai have been punished.

“If the Shanghai situation clears up within a month, both Xi and Li could still get what they want,” Mr. Chen said. — Reuters

US CDC lifts COVID ‘Do Not Travel’ recommendations on about 90 countries

UNSPLASH

The US Centers for Disease Control and Prevention (CDC) said on Monday it had dropped its “Do Not Travel” coronavirus disease 2019 (COVID-19) recommendations for about 90 international destinations.

Last week, the CDC said it was revising its travel recommendations and said it would its reserve Level 4 travel health notices “for special circumstances, such as rapidly escalating case trajectory or extremely high case counts.”

The countries and other regions dropped to “Level 3: High,” which still discourages travel by unvaccinated Americans, include the United Kingdom, France, Israel, Turkey, Australia, Greece, Hong Kong, Italy, Japan, South Korea, Spain and Russia.

Also being lowered are Switzerland, Austria, Belgium, Bulgaria, Central African Republic, Chile, Czech Republic, Jordan, Lebanon, New Zealand, Norway, Portugal, Poland, Somalia, Uruguay and Vietnam.

The CDC currently lists no countries at “Level 4” that it has renamed “Special Circumstances/Do Not Travel.”

The US State Department said last week it was also sharply cutting back on “Do Not Travel” advisories for international destinations.

Out of about 215 countries and territories that it rates, the department currently lists nearly 120 at “Level Four: Do Not Travel,” including much of Europe, Japan, Israel, and Russia.

The department last week said its update due later on Monday “will leave approximately 10% of all travel advisories at Level 4” including all risk factors, not just COVID.

“We believe the updated framework will help US citizens make better informed decisions about the safety of international travel,” it said in a statement.

Airlines and other travel groups have been pressing the Biden administration to lift the pre-departure COVID negative test requirements for international travelers, as many other countries have done. They also argued the Do Not Travel advisories were unnecessary and discouraged travel.

Administration officials say the issue has been under review but health officials have announced no changes. — Reuters

Join conversations with IKEA, Nas Academy, Lalamove and more at Ground Zero, a career growth conference

Workbean, an award-winning HR tech startup in employer branding and recruitment marketing, is excited to announce the launch of Ground Zero, a career growth conference happening online on April 29, 2022.

At the core of what Workbean does is helping professionals find meaningful careers in companies with cultures they resonate with. Why? Because for Workbean, the philosophy is simple: “If one-third of your life will be spent at work, wouldn’t you want to spend it with a company that you love?”

To champion today’s best companies and put the spotlight on great company cultures, Workbean has put together Ground Zero, a career growth conference. At Ground Zero, which will take place virtually on April 29, 2022, companies can showcase their unique company cultures, while professionals get to join conversations with leaders from different emerging industries. Companies participating in Ground Zero’s expert stages include IKEA, Nas Academy, KMC Solutions, Lalamove, and more.

For professionals who want to work where they belong and belong where they work, Ground Zero presents a chance for them to take a peek into the company cultures of Workbean’s partner brands and take their careers to the next level. Guided sessions allow professionals to discover their Worksona (work personality) and branding, while fireside chats with companies could provide valuable industry insight. At the end of the event, an exclusive metaverse after-party will be held for partner companies and select audiences.

Kass Monzon, co-founder and CEO of Workbean, shared, “Employer branding used to be a ‘nice to have’ ingredient in attracting the right talent for companies, but as we enter recovery post-pandemic, we have seen a dramatic shift in our conversations with companies: everyone has to reevaluate their values, their culture and people strategies if they want to stay relevant.”

Workbean’s mission has always been about helping professionals work where they belong by cultivating relationships and championing great company culture, among others. With the Great Resignation happening around the globe, it’s the purpose of Ground Zero to help professionals and companies tread this new — and ever-changing — work landscape.

Registration for Ground Zero is ongoing. Sign up to secure your slot now at https://workbean.typeform.com/ground-zero-22.

Ground Zero is made possible with the support of its media partners, WhenInManila.com and SparkUp.

 


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UP Junior Finance Association presents Philippine Financial Summit 2022

UP Junior Finance Association, with its vision of educating and empowering the youth through progressive financial literacy, proudly presents the Philippine Financial Summit 2022: Advance with Finance.

In its second digital installment, PFS will continue to go beyond the boundaries of regions and islands to bring financial literacy at the palm of your hands. This April, PFS will help you break through barriers as we traverse the world of finance — both for beginners and advanced!

With 800 participants from all over the country, we are stepping on to the next level with a two-week virtual convention from April 23 to May 7 for everything finance with plenary talks, panel discussions, mentorship sessions, optional case problems, and online courses from esteemed finance experts in the Philippines. By attending the summit, you may engage with the top industry professionals and company leaders in the field of finance.

So, we are calling all young individuals out there. Are you ready to roll the die? Join us and take your financial journey across the board!

Register now FOR FREE at https://tinyurl.com/PFS2022Registration until April 21, 2022 to take part in this prestigious event! Own your journey with the free finance courses and resource materials available for you to access on our website, https://www.upjfa.com/.

For more details and inquiries, you may visit our Facebook page, https://www.facebook.com/UPJFAPFS.

This event is proudly presented by CFA Society Philippines, Macquarie Group, Lifebuoy, Schneider Electric, Home Credit, Digital Pilipinas, and Fintech Philippines.

Also, this is co-presented by Accenture, COL Financial Group, Inc., GCash, and PDAX. In partnership with D&L Industries, Inc., IESE Business School, BDO Capital & Investment Corporation, BDO Securities Corporation, Mondelēz International, Novellino, and IQ-EQ.

Finally, this event is made possible by Payreto. Also special shoutout to our Media Partners BLOG-PH, SparkUp and When In Manila.

#PFS2022

 


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Robinsons Retail Holdings, Inc. to hold annual meeting of stockholders on May 13

NOTICE OF THE ANNUAL MEETING OF SHAREHOLDERS

MAY 13, 2022

Notice is hereby given that the Annual Meeting of the Shareholders of ROBINSONS RETAIL HOLDINGS, INC. (Annual Meeting) shall be held via remote communication at https://bit.ly/RRHI2022ASM on May 13, 2022 at 9:30 A.M.

The Agenda for the Annual Meeting is as follows:

  1. Call to Order and Certification of Notice and Quorum
  2. Approval of the Minutes of the Annual Meeting of the Shareholders held on May 14, 2021
  3. Presentation of the Annual Report and Approval of the Audited Financial Statements for the year ended December 31, 2021
  4. Election of the Board of Directors
  5. Appointment of the External Auditor
  6. Ratification of the acts of the Board of Directors and its committees, officers and management
  7. Other Matters
  8. Adjournment

Record Date   Only shareholders of record as of April 5, 2022 are entitled to notice of, and to vote at, the Annual Meeting.

Attendance and Registration   Shareholders may only attend the meeting via remote communication. Shareholders who intend to participate in the Annual Meeting should register by sending an email at corpsec@robinsonsretail.com.ph no later than May 5, 2022 in order to be considered as present.

Quorum   For purposes of quorum, the following shareholders shall be deemed present: (1) shareholders who register by May 5, 2022; (2) shareholders who register and vote in absentia by May 5, 2022; and (3) shareholders who submit duly accomplished proxy forms.

Voting   Shareholders may vote through the following:  (1) by digital ballot, (2) by voting in absentia or (3) by appointing the Chairman of the Annual Meeting as their proxy.  To vote by digital ballot and vote in absentia, please register by sending an email and submitting the required documents at corpsec@robinsonsretail.com.ph no later than May 5, 2022.  Once the registration is validated, a digital ballot shall be generated for the shareholder who may then proceed to fill out the ballot. To vote by proxy, please submit a duly accomplished proxy form on or before May 5, 2022 either by email to corpsec@robinsonsretail.com.ph or a hard copy to the Office of the Corporate Secretary, 4th Floor, Building A, Robinsons Retail Head Office, 110 E. Rodriguez Jr., Avenue, Libis, Quezon City. We are not soliciting proxies.

The procedure for attending the meeting via remote communication, registration, voting by digital ballot, voting in absentia and voting by proxy are explained in the Information Statement.

Visual and Audio Recording   In accordance with SEC guidelines, please be informed that there will be a visual and audio recording of the Annual Meeting.

Electronic Copies   An electronic copy of the Information Statement, Management Report, SEC Form 17-A and other related documents are available at https://www.robinsonsretailholdings.com.ph/investor-relations/2022 under the Annual Reports>Annual Report Documents>2022 tab and at PSE Edge.

(signed)
Atty. Rosalinda F. Rivera
Corporate Secretary
 


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Altus Property Ventures, Inc., Robinsons Land Corp. and RL Commercial REIT, Inc. issue notice of annual stockholders’ meeting on May 12

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
MAY 12, 2022

Notice is hereby given that the Annual Meeting of the Stockholders of the following companies (the “Companies”) will be held on May 12, 2022 at the time and place as stated below. In light of current conditions and in support of the efforts to contain the outbreak of COVID-19, stockholders may only attend the meetings via remote communication at the livestream links specified below:

www.robinsonsland.com/DIS2022
https://bit.ly/RLC_ASM2022
www.rlcommercialreit.com.ph/DIS2022
https://bit.ly/RCR_ASM2022
www.altuspropertyventures.com.ph/DIS2022
https://bit.ly/APVI_ASM2022

The Agenda for the meeting of Robinsons Land Corporation is as follows:

1. Proof of notice of the meeting and existence of a quorum
2. Reading and approval of the Minutes of the Annual Meeting of the Stockholders held on May 13, 2021
3. Presentation of annual report and approval of the financial statements for the preceding year
4. Amendment of Article II of the Articles of Incorporation
5. Election of Board of Directors
6. Appointment of External Auditor
7. Ratification of the acts of the Board of Directors and its committees, officers and management
8. Consideration of such other matters as may properly come during the meeting
9. Adjournment

The Agenda for the meeting of RL Commercial REIT, Inc. is, as follows:

1. Proof of notice of the meeting and existence of a quorum
2. Presentation of annual report and approval of the financial statements for the preceding year
3. Election of Board of Directors
4. Appointment of External Auditor
5. Ratification of the acts of the Board of Directors and its committees, officers and management
6. Consideration of such other matters as may properly come during the meeting
7. Adjournment

The Agenda for the meeting of Altus Property Ventures, Inc. is, as follows:

1. Proof of notice of the meeting and existence of a quorum
2. Reading and approval of the Minutes of the Annual Meeting of the Stockholders held on May 13,
2021
3. Presentation of annual report and approval of the financial statements for the preceding year
4. Election of Board of Directors
5. Appointment of External Auditor
6. Ratification of the acts of the Board of Directors and its committees, officers and management
7. Consideration of such other matters as may properly come during the meeting
8. Adjournment

The Information Statements of the Companies which contain more details regarding the rationale and explanation for each of such agenda items may be viewed or downloaded at the web addresses indicated above. Stockholders intending to participate via remote communication must notify the Companies by email on or before May 4, 2022 at the corresponding email addresses indicated in the Information Statements of each Company.

Stockholders who wish to cast their votes may do so via the method provided for voting in absentia, or by accomplishing the proxy form. The procedures for attending the meeting via remote communication and for casting votes in absentia are explained further in the Information Statements.

Shareholders who wish to vote by proxy shall send the proxies via email to the corresponding email addresses indicated in the Information Statement of each Company or hard copies to the Office of the Corporate Secretary, 12/F Robinsons Cyberscape Alpha, Sapphire and Garnet Roads, Ortigas Center, Pasig City, not later than May 4, 2022. Validation of proxies shall be held on May 6, 2022. We are not soliciting proxies.

Only stockholders of record of the Companies as of April 4, 2022 shall be entitled to vote at the respective meetings.

By Authority of the Chairman

(sgd.)

JUAN ANTONIO M. EVANGELISTA
Corporate Secretary

 


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JG Summit Holdings, Inc.’s annual stockholders’ meeting to be held on May 13

JG SUMMIT HOLDINGS, INC.

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

MAY 13, 2022 • 11:00 a.m.

Notice is hereby given that the Annual Meeting of the Stockholders of JG SUMMIT HOLDINGS, INC. (the “Corporation”) will be held on May 13, 2022 at 11:00 a.m. in accordance with the relevant provisions of the By-Laws of the Corporation which allows meetings of the stockholders to be conducted by remote communication, subject to such guidelines as may be promulgated by the Securities and Exchange Commission.

Stockholders may view the livestream of the Meeting and download the Information Statement at the following web addresses:

The Agenda for the meeting is as follows:

  • Proof of notice of the meeting and existence of a quorum.
  • Reading and approval of the Minutes of the Annual Meeting of the Stockholders held on May 14, 2021.
  • Approval to amend Article Sixth of the Amended Articles of Incorporation of the Corporation in order to reduce the number of seats in the Board of Directors from eleven (11) to nine (9).
  • Presentation of annual report and approval of the financial statements for the preceding year.
  • Election of Board of Directors.
  • Appointment of External Auditor.
  • Ratification of the acts of the Board of Directors and its committees, officers and management.
  • Consideration of such other matters as may properly come during the meeting.
  • Adjournment.

Stockholders may cast their votes on or before May 5, 2022 on all matters requiring approval by: (a) accomplishing and submitting the proxy form; or (b) voting in absentia.

Proxies shall be sent via email to corporate.secretary@jgsummit.ph or hard copies to the Office of the Corporate Secretary, 40F Robinsons Equitable Tower, ADB Avenue cor. Poveda Road, Ortigas Center, Pasig City. Validation of proxies shall be held on May 10, 2022. The procedures for attending the meeting via remote communication, submission of proxies, and for voting in absentia are explained in the Information Statement.

Only stockholders of record of the Company as of April 4, 2022 shall be entitled to vote. We are not soliciting proxies.

By Authority of the Chairman

By Authority of the Chairman

(signed)

MARIA CELIA H. FERNANDEZ-ESTAVILLO
Corporate Secretary

 

 


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URC discloses annual meeting of stockholders on May 11

UNIVERSAL ROBINA CORPORATION

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

MAY 11, 2022

1:00 P.M.

Notice is hereby given that the Annual Meeting of the Stockholders of UNIVERSAL ROBINA CORPORATION (the “Corporation”) will be held on Wednesday, May 11, 2022 at 1:00 P.M. in accordance with the relevant provisions of the By-Laws of the Corporation which allows meetings of the stockholders to be conducted by remote communication, subject to such guidelines as may be promulgated by the Securities and Exchange Commission.

Stockholders may view the livestream of the Meeting and download the Information Statement at the following web addresses:

The Agenda for the Meeting is as follows:

  • Proof of notice of the meeting and existence of a quorum.
  • Reading and approval of the Minutes of the Annual Meeting of the Stockholders held on May 13, 2021.
  • Presentation of annual report and approval of the financial statements for the preceding year.
  • Election of Board of Directors.
  • Appointment of External Auditor.
  • Ratification of the acts of the Board of Directors and its committees, officers, and management.
  • Consideration of such other matters as may properly come during the meeting.
  • Adjournment.

Only stockholders of record of the Corporation as of April 4, 2022 shall be entitled to vote.

Stockholders may cast their votes on or before May 4, 2022 on all matters requiring approval by: (a) accomplishing and submitting the proxy form; or (b) voting in absentia.

The procedures for attending the meeting via remote communication, submission of proxies, and for voting in absentia are explained in the Information Statement.

Proxies shall be sent via email to corporate.secretary@urc.com.ph or hard copies to the Office of the Corporate Secretary, 40F Robinsons Equitable Tower, ADB Avenue cor. Poveda Road, Ortigas Center, Pasig City. Validation of proxies shall be held on May 6, 2022. We are not soliciting proxies.

By Authority of the Chairman

(signed)

MARIA CELIA H. FERNANDEZ-ESTAVILLO
Corporate Secretary

 


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