Any questions regarding the data contained herein should be directed directly to the disclosing party's Corporate Information Officer. None of the members of the Board of Directors or senior management have a substantial interest in the matters to be acted upon other than election to office. None of the members of the Board of Directors has informed the Company in writing that he/she intends to oppose any action intended to be taken at the Annual Shareholders' Meeting.
The above nominees have been presented to the nomination committee of the Far Eastern University by a shareholder, Ms. She is also a member of the Museum Foundation of the Philippines, Inc., the Oriental Ceramic Society, the Heritage Conservation Society, HABI: The Philippine Textile Council, Inc. Aurelio Montinola III, 66, Filipino: Chairman of the Board of Trustees (August 2013 to present), Vice Chairman (June 1989 to August 2013), Far Eastern University, Inc.
He is also a Director of the Bank of the Philippine Islands and an Independent Director of Roxas and Company Incorporated, both listed corporations. He was awarded the Asian Banker Leadership Award in 2005 and 2009 for the Philippines and the MAP Management Man of the Year Award in 2012.
Angelina Palanca Jose, 64, Filipino: Trustee (June 1990 to present) and Special Projects (February 2017 to present), Far Eastern University, Inc
Other Corporate Affiliations: President and Board Director, ALFM Mutual Funds Group and Independent Director, Generika/Actimed Group, East Asia Computer Center, Inc., FERN Realty Corporation and Far Eastern College Silang, Inc. Tinio, 51, Filipino: Senior Vice President for Academic Affairs, Far Eastern University, Inc. June 2011 to present) Affairs, Far Eastern University, Inc. Montinola, 56, Filipino: Chief Finance Officer, Far Eastern University, Inc. Other corporate affiliations: Chairman, FEU Health, Welfare and Retirement Fund Plan and Foundation for Information Technology Education and Development, Inc.;.
He is also a member of the executive committees of Far Eastern University, Inc. and Far Eastern College Silang, Inc. Montinola was CEO and Country Manager of Lafarge Cementi SA, Italy, from 2006 to 2008 and President and CEO of Republic Cement Corporation from 1996 to 2006. Montinola, 59, Filipino: Vice President of Corporate Affairs, Far Eastern University, Inc. November 2013 to Present) University, Inc. Other corporate affiliations: Concurrent director and corporate secretary of FERN Realty Corporation and Amon Trading Company; Trustee, East Asia Educational Foundation, Inc.; Director of Far Eastern College Silang, Inc., East Asia Computer Center, Inc.
Rosanna Esguerra-Salcedo, 52, Filipino: Treasurer, Far Eastern University, Inc. Other Corporate Affiliations: Director and Treasurer of FEU Alabang, Inc., Vice President of Finance of Roosevelt College, Inc. and member of the Credit Management Association of the Philippines. Nagal, 59, Filipino: Comptroller, Far Eastern University, Inc. 1996 to present) Other business ties: Director and Treasurer, FEU High School, Inc.
Compensation of Trustees and Executive Officers
The external auditor, Punongbayan & Araullo, audited the company's financial statements for the fiscal year ended May 31, 2017. The same audit firm is recommended for reappointment at the annual shareholders' meeting for almost the same fees in the previous year. Other than the fees of the external auditor mentioned above, there are no other fees (tax fees, all other fees) for services rendered by the external auditors.
The audit committee's approval of policies and procedures covering the review of FEU's financial statements for the financial year ending May 31, 2017, including other services, is contained in the minutes of the audit committee meeting dated August 14, 2017. External auditor signatory partners is replaced every five (5) years of employment.
Item 8: Compensation Plans
ISSUANCE AND EXCHANGE OF SECURITIES
There are no questions or actions to be taken with respect to the authorization or issuance of securities. There are no proceedings or actions to be taken to amend any class of securities of the Company or to issue or authorize the issuance of one class of securities of the Company in exchange for outstanding securities of another class. The audited accounts as of 31 May 2017, management's discussion and analysis, market price of shares and dividends and other data related to the company's financial information is attached as Appendix G.
There are no matters or actions to be taken up at the Annual General Meeting in respect of merger, consolidation, purchase by sale or liquidation of the Company.
Item 13: Acquisition or Disposition of Property
Item 14: Restatement of Accounts
Resolutions approved by the Board of Directors on 21 July 2016 were ratified and confirmed by the shareholders representing 83.35% of the total issued and outstanding share capital of the company:. Approval of the amendment of Article 2 of the amended Articles of Association as follows: That approval from the company's shareholders is obtained during the annual shareholders' meeting for the purpose of authorizing the company's board of directors to cause the application to amend the amended articles of association to be submitted to and approved by the Securities and Exchange Commission.
That the above matters be included in the agenda of the annual shareholders' meeting on August 27, 2016 for distribution to the shareholders. THE BANK OF THE PHILIPPINE ISLANDS (the "Bank") offered the Corporation financial credit accommodation of up to THREE BILLION PESOS, Philippine Currency (P. There are no matters to be dealt with at the meeting that do not require a vote of shareholders as of the Record Date .
The Securities and Exchange Commission approved on January 16, 2017 the amendments to the Amended Corporate Statute as follows: Ratification and confirmation of all actions during the past year of the Board of Directors, the Board and.
Interest of Certain Persons in Matters to be Acted Upon
ANNEXES
ANNEX A
- Call of meeting to order
- Proof of notice of meeting and determination of quorum
- Approval of minutes of the annual meeting of stockholders held on 27 August 2016
- Academic report of the President
- Approval of Annual Report and Audited Financial Statements
- Ratification and confirmation of all actions during the past year of the Board of Trustees, Board and Management Committees, and Management and other
- Election of Trustees, including Independent Trustees
- Appointment of External Auditor
- Consideration of such other business as may properly come before the meeting
- Adjournment
Other corporate affiliations: Chairman, Board of Directors, FERN Realty Corporation; Chairman and President, FEU Educational Foundation, Inc.; Chairman Emeritus, Nicanor Reyes Educational Foundation, Inc.; President of Far Eastern College Silang, Inc.; Governor of the Nicanor Reyes Memorial Foundation; Trustee, FEU-dr. Other Business Connections: Chairman, Amon Trading Inc., BPI-Philam Life Assurance Corporation, East Asia Computer Center, Inc., East Asia Educational Foundation, Inc., Nicanor Reyes Educational Foundation, Inc., World Wildlife Fund Philippines, FEU High School , Inc. He is also the president of East Asia Educational Foundation, Inc., East Asia Computer Center, Inc., Nicanor Reyes Educational Foundation, Inc., Far Eastern College Silang, Inc., FEU Alabang, Inc., FEU High School, Inc.
Other Corporate Affiliations: Member, Board of Directors, FERN Realty Corporation; Administrator, Nicanor Reyes Educational Foundation, Inc.; Treasurer and Curator, FEU Educational Foundation, Inc.; Corporate Secretary and Governor, Nicanor Reyes Memorial Foundation; Member, Executive Committee, Far Eastern University, Inc.; Corporate Secretary and Director, Far Eastern College Silang, Inc.; Director, FEU Alabang, Inc.; Chairman and President, Angel C. Foundation, Inc., FEU Educational Foundation, Inc., East Asia Educational Foundation, Inc., East Asia Computer Center, Inc., Lyceum of Batangas, Lyceum of Laguna, SM (Shoemart) Foundation, Inc ., Asia Pacific Technology Educational Foundation, FERN Realty Corporation, Far Eastern College Silang, Inc., FEU High School, Inc., Roosevelt College, Inc. and Foundation for Information Technology Education and Development, Inc. He received both his MS and PhD in Chemical Engineering from the University of Notre Dame, Indiana, USA Montinola, 64, Filipino: Trustee, Far Eastern University, Inc. November 2013 to present) Other business ties: Chairman, President and Director – Round Royal, Inc.;
Kuan, 68, Filipino: Independent Trustee, Far Eastern University, Inc. September 2004 to present) Other corporate affiliations: Trustee, St. Agora Awardee for Entrepreneurship and Triple-A Awardee by AIM; Outstanding Alumnus Awardee in Business given by the Alumni Association of the University of the Philippines (UP) and Distinguished Alumnus Awardee given by the College of Business Administration of the University of the Philippines (UP). de Jesus, 74, Filipino: Independent Trustee, Far Eastern University, Inc. August 2012 to Present) Other Corporate Affiliations: Member of the Board of Directors, Cagayan de Oro College, Phinma Corp.
ANNEX B
ANNEX G
Number of Shareholders
Corporate Governance
- PARENT CORPORATION FINANCIAL STATEMENTS
- CONSOLIDATED FINANCIAL STATEMENTS
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES
- RISK MANAGEMENT OBJECTIVES AND POLICIES
- CATEGORIES AND OFFSETTING OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
- FAIR VALUE MEASUREMENT AND DISCLOSURES 1 Fair Value Hierarchy
- CASH AND CASH EQUIVALENTS
- RECEIVABLES
- CROSS-CURRENCY SWAP
- FINANCIAL ASSETS
- PREPAYMENTS AND OTHER CURRENT ASSETS The breakdown of this account is as follows
- INVESTMENTS IN SUBSIDIARIES AND AN ASSOCIATE This account consists of the following as of
- INVESTMENT PROPERTIES
- PROPERTY AND EQUIPMENT
- TRADE AND OTHER PAYABLES This account consists of
- INTEREST-BEARING LOANS
- EDUCATIONAL REVENUES
- OPERATING EXPENSES
- FINANCE INCOME AND FINANCE COSTS 1 Finance Income
- OTHER INCOME
- EMPLOYEES’ HEALTH, WELFARE AND RETIREMENT FUND (a) Characteristics of the Defined Benefit Plan
- INCOME TAXES
- RELATED PARTY TRANSACTIONS
- EQUITY
- EARNINGS (LOSS) PER SHARE
- EVENTS AFTER THE END OF THE REPORTING PERIOD
- COMMITMENTS AND CONTINGENCIES
- CAPITAL MANAGEMENT OBJECTIVES, POLICIES AND PROCEDURES The University aims to provide returns on equity to shareholders while managing
- SUPPLEMENTARY INFORMATION REQUIRED BY THE BUREAU OF INTERNAL REVENUE
- CORPORATE INFORMATION 1 Background of the University
The financial statements of the University have been prepared in accordance with Philippine Financial Reporting Standards (PFRS). Items included in the financial statements of the University are measured using its functional currency. Financial assets are recognized when the University is a party to the. contractual terms of the financial instrument.
The amount of the reversal is recognized in the result. ii) Transferred to fair value – AFS Financial Assets. The university determines whether an arrangement is or contains a lease based on the arrangement's content. Any post-year-end event that provides additional information about the university's financial position at the end of the reporting period (adjusting event) is reflected in the financial statements.
The BOT has overall responsibility for establishing and overseeing the University's risk management framework. The University's exposure to price risk arises from its investments in equity securities, which are classified as part of the AFS Financial Assets account in the statement of financial position. A description of the University's risk management objectives and policies for financial instruments is provided in Note 4.
Based on management's assessment, the best use of the university's non-financial assets identified above is its current use. Below is an analysis of the development of the book value of the RUG's investments. Below is an analysis of the changes in the book value of the University's HTM investments for the year ended May 31, 2017.
In fiscal year 2016, the University paid P7.0 million of the outstanding subscription price of P7.5 million. Items included in the Group's consolidated financial statements are measured using its functional currency. All subsequent changes in the equity portion of the participation are recognized in the carrying amount of the University's investment.
Financial assets are recognized when the Group becomes a party to the contractual terms of the financial instrument. Below is a more detailed description of the categories of financial assets relevant to the Group. The amount of the reversal is recognized in the consolidated income statement. ii) Measured at fair value – AFS financial assets.
The sale of this merchandise is exclusive to the students of the university and FECSI.
