Geograce Resources Philippines, Inc. (“Company”) was incorporated as La Suerte Gold Mining Corporation on 20 April 1974 primarily to engage in the exploration, exploitation, and development of mineral resources, and to purchase, lease, and otherwise acquire mining claims and concessions where in the Philippines, and to carry on the business of mining, extracting, smelting, treating, and otherwise producing and dealing in metals and minerals of all kinds including all its products and by-products.
On 16 May 1995, the stockholders approved the realignment of the Company’s main business activities from that of a mining company to that of an investment holding company. The corporate name of “La Suerte Gold Mining Corporation” was renamed as “Global Equities, Inc.” As a holding company, it invested in and/or managed companies engaged in the manufacture of absorbent cotton, personal care products and in the provision of specialized corporate facilities for end-users.
On 14 September 2006 and 27 October 2006, the Company’s Board of Directors and stockholders, respectively, approved the change in the Company’s business to engage in exploration, exploitation, and development of mineral resources and development of the Philippines’ mineral resources. On 21 November 2006, the Securities and Exchanges Commission (”SEC”) approved the Amended Articles of Incorporation of the Company, including the change in corporate name from “Global Equities, Inc.” to “Geograce Resources Philippines, Inc.”
To achieve the shift in its primary purpose of a mining company, the Company has acquired the exclusive rights to explore, develop and operate mining tenements throughout the Philippines for various mineral deposits. The Company has to date negotiated for exclusive access and acquisition rights over nearly 240,000 hectares of claims in nickel, gold, copper and chromite.
On 3 November 2011, the Board of Directors approved the quasi-organization of the Company’s capital structure. The quasi-organization involves the reduction of the par value of the Company’s shares from PhP1.00 per share to PHhP.30 per share. The total additional paid-in capital amounting to PhP2,450 million that will arise from the quasi-organization of the Company’s capital structure shall be used to eliminate its accumulated deficit. The Company, however, has deferred the implementation of the quasi-organization.
On 20 December 2013, the stockholders approved the following amendments to the Company’s Articles of Incorporation:
- Amendment of Article II – changing the Company’s primary purpose from a mining company into a holding company.
- Amendment of Article VI – reducing the number of directors from eleven (11) directors to seven (7) directors.
The foregoing amendments in the Company’s Articles of Incorporation were approved by the SEC on 20 February 2014.
In line with its new primary purpose, the Company will be on the continuous lookout for possible investments in other areas of interest while maintaining some of its mining tenements.
Company Mission is to deliver investment opportunities, generate valued returns to our stakeholders through commitment to excellence.
Company vision is to serve as a tool for an investor to capitalize in a wide range of asset management portfolio.
- A commitment of transparency
- Sustainability and recognition of its social responsibilities as a member of society and
- To stimulate our economic growth as well while fulfilling the demands of our stakeholders.
Board of Directors, Management Team and Executive Officers
|BOARD OF DIRECTORS / OFFICERS|
|Chi Ho Co||Chairman, Non-Executive Director|
|Delfin S. Castro, Jr.||President, Executive Dircetor (ED)|
|Ramoncito B. Cabalu||Treasurer / Compliance Officer (ED)|
|Reyno D. Dizon||Non-Executive Director|
|Raymond T. Koa||Non-Executive Director|
|Manuel G. Ong||Independent Director|
|Felixes G. Latoreno||Independent Director|
Board of Directors Profile [PDF]
|Chi Ho Co||Chairman|
|Delfin S. Castro, Jr.||President|
|Ramoncito B. Cabalu||Treasurer / Compliance Officer|
|Arsenio C. Cabrera, Jr.||Corporate Secretary / Corporate Information Officer|
|Le Iris T. Lucido||Assistant Corporate Secretary|
Company Officers Profile [PDF]
SHAREHOLDING STRUCTURE as of December 31, 2018
AUTHORIZED CAPITAL STOCK:
3,500,000,000 shares divided into PhP 1.00 per value
ISSUED PAID-UP CAPITAL:
Number of Shares
PUBLIC OWNERSHIP PERCENTAGE
Category of Shareholders
Number of Shares
% of Issued Shares
Total Number of Shares owned by Public
Number of Listed Shares
Total Number of Non-Public Shares
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