Vallacar Transit affirms legality of shareholders meeting
Credit to Author: The Manila Times| Date: Mon, 23 Dec 2019 17:06:56 +0000
VALLACAR Transit Inc. (VTI) affirmed the legality of its annual shareholders’ meeting on Dec. 7, 2019 at the company’s principal office in Bacolod City.
The newly elected board of VTI slammed the Securities and Exchange Commission (SEC) Bacolod Extension Office for attending an irregular meeting of the “bogus” shareholders of the company on the same day.
Under the company’s by-laws, the annual shareholders’ meeting should be held every first Saturday of December at its principal office at Ceres compound, Barangay Mansilingan in Bacolod City.
The stockholders elected matriarch Olivia V. Yanson, Leo Rey Yanson, Ginnette Y. Dumancas, Charles M. Dumancas, Arvin John Villaruel, Anita G. Chua and Daniel Nicolas Golez as members of the board of directors.
The elected directors will serve for one year until December 2020 or until their successors have been duly elected and qualified. The board held an organizational meeting and re-appointed Leo Rey Yanson as the president of the company and Olivia V. Yanson as treasurer and corporate secretary. The shareholders also ratified the acts of the board of directors led by Leo Rey V. Yanson.
At the same time, the VTI directors authorized law firm Madrid Danao & Associates to question the meeting organized by the “impostor stockholders, directors and officers of VTI, namely Roy V. Yanson, Ma. Lourdes Celina Y. Lopez, Ricardo V. Yanson Jr. and Emily V. Yanson” who are collectively known as the Yanson 4.