Home Meeting notice Crown Equities Inc Announces Annual Meeting of Shareholders

Crown Equities Inc Announces Annual Meeting of Shareholders

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NOTICE OF CONVENING ANNUAL GENERAL MEETING

Dear shareholder:

Please note that CROWN EQUITIES, INC. (IEC) will hold its annual meeting of shareholders (ASM) ALMOST1 on May 24, 2022Tuesday, 2:00 p.m.

The agenda for the meeting will be as follows:

  1. Call to order
  2. Certification of notice and determination of quorum
  3. Approval of the minutes of the previous annual general meeting of May 25, 2021
  4. President’s report
  5. Ratification of all acts of the Board, Board Committees and Management during their term of office
  6. Election of directors
  7. Appointment of the External Auditor for 2022-2023
  8. Other topics
  9. Open forum
  10. Adjournment

Attached is the rationale for the above agenda items for reference.

Given the persistence of the COVID-19 pandemic, CEI will not perform physical ASM. Shareholders of record as of April 15, 2022 are entitled to be notified and may only attend and/or participate in the ASM or any adjournment thereof by proxy and remote communication, and vote in absentia.

If you choose to participate in the WSA by remote communication and vote in absentia, please notify the Office of the Secretary General at [email protected] and submit the complete supporting documents no later than May 14, 2022. Detailed registration and voting procedures are available on www.crownequitiesinc.com/2022ASMand in the Guidelines for Participation by Remote Communication and Voting in Absentee (the Guidelines) annexed to the Information Document.

If you wish to appoint a proxy for the meeting, you may complete a proxy form (which does not need to be notarized) together with the full supporting documents set out in the guidelines and submit them to the Office of the Corporate Secretary at 33rd stage. , The Orient Square, F. Ortigas Jr. Road, Ortigas Center, Pasig City by mail or email to [email protected] on or before May 14, 2022.

Proxies and supporting documents submitted will be validated on May 19, 2022 at the 5th Floor Crown Center, 158 Jupiter cor. N. Garcia Streets, Bel-Air, Makati City.

Shareholders who have successfully registered can vote and will receive the meeting link. For complete information on ASM, please visit www.crownequitiesinc.com/2022ASM.

Your presence is strongly requested.

(Sgd.) ELMER B. SERRANO

Corporate secretary

Rationale for Agenda Items:

Agenda item 3: Approval of the minutes of the General Meeting of Shareholders held on May 25, 2021

The minutes of the annual general meeting of shareholders held on May 25, 2021 were drawn up within the period prescribed by the applicable laws, rules and regulations. The results of the annual meeting of shareholders were also reported to The Philippine Stock Exchange, Inc. immediately following the annual meeting. The Board of Directors recommends that shareholders review the minutes in question for approval on May 24, 2022.

Item 4 of the agenda: Approval of the annual report for the year 2021

The Company’s performance results for 2021 have been duly summarized in the Annual Report, which includes the Company’s audited financial statements (AFS) for the year ended 2021. The AFS have been reviewed by the Audit Committee and Board of Directors, and have been audited by the external auditors who expressed an unqualified opinion on the above financial statements. The annual report is posted on the Company’s website.

Item 5 of the agenda: General ratification of the acts of the Board of Directors, Board Committees and Management since the date of the last annual general meeting until the date of this meeting

The performance of the Company in 2021, as detailed in the annual report, is attributed to the strategic directions and key policies set by the Board of Directors which were effectively executed and adhered to by management in accordance with good corporate governance and ethical best practices.

Agenda Item 6: Election of Directors for 2022-2023

The Company’s Nominating Committee pre-selected the list of candidates for the positions of directors. Their competence, expertise and proven qualifications, based on the regulatory standards in force, will contribute to sustaining the solid performance of the Company for the benefit of all its shareholders.

Agenda Item 7: Appointment of the External Auditor

Based on the recommendation of the Audit Committee, the Board agreed with the recommendation to reappoint Reyes Tacandong & Co. as the Company’s external auditors for fiscal year 2022. Reyes Tacandong & Co. is one of the country’s leading audit firms. and is duly accredited with the SEC.