The Philippine Securities and Exchange Commission has removed the requirement for publicly listed companies and other issuers of registered securities to obtain prior approval before holding an annual stockholders’ meeting earlier than the date specified in their bylaws. Covered companies must instead notify the commission in writing at least 32 business days before the scheduled meeting. The notice must provide a justifiable reason for the early meeting and have board approval supported by a secretary’s certificate. Companies must also disclose the meeting and the reason through SEC Form 17-C, meet applicable deadlines for preliminary and definitive information statements, protect stockholder rights and encourage minority stockholder attendance.
2026-03-10Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission replaces prior approval for early annual meetings with 32-business-day notice
The Philippine Securities and Exchange Commission no longer requires prior approval for covered companies to hold annual stockholders’ meetings earlier than specified in their bylaws. Publicly listed companies and other issuers of registered securities must instead provide written notice at least 32 business days in advance and comply with disclosure, filing and stockholder protection requirements.