The Board of Directors of Bankard, Inc. in its board meeting held in April 18, 2012 approved the equity restructuring of Bankard, Inc. by way of the following:
- Use Bankard's existing additional paid-in capital (APIC) to partially reduce Deficit
- Reduction of authorized capital stock by reducing the par value of common shares by 45%, or from P1.00 to P0.55 covering Bankard's outstanding common shares, and use of the resulting excess to eliminate the remaining Deficit.
The proposed Equity Restructuing will enable Bankard, Inc. to fully eliminate its accumulated deficit as of December 31, 2011. The restructured equity will be reflective of the fundamentals of the Company. Likewise, the elimination of Deficit will make it possible for the Company to pursue various corporate actions, among which would be declaring dividends from its future income. - https://www.affordablecebu.com/
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"Bankard, Inc. Equity Restructuring" was written by Mary under the Banking category. It has been read 1633 times and generated 0 comments. The article was created on 20 April 2012 and updated on 20 April 2012.
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