The Corporation Code of the Philippines requires all Philippine corporations to hold an annual meeting of shareholders for the election of directors and for other corporate purposes. Our by-laws provide for annual meetings on the first Wednesday of June of each year at our principal office or at some other place in Makati City as may be designated by our Board and stated in the notice. If the date of the annual meeting falls on a legal holiday, the annual meeting shall be held on the following business day.

Special meetings of our shareholders may be called by: (i) our Board, at its own instance, (ii) upon written request of shareholders representing a majority of the outstanding capital stock, or (iii) our President.