treasury shares

How is the term “outstanding capital stock” defined under the Revised Corporation Code?

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How is the term “outstanding capital stock” defined under the Revised Corporation Code? The term “outstanding capital stock” is defined as the total shares of stock issued under binding subscription contracts to subscribers or stockholders (SEC. 173, Revised Corporation Code of the Philippines). This total includes shares whether they are fully paid or only partially […]

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What is the extent of the preemptive right of stockholders in a close corporation?

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What is the extent of the preemptive right of stockholders in a close corporation? The preemptive right of stockholders in a close corporation is broader than in an ordinary stock corporation (SEC. 101, Revised Corporation Code of the Philippines). In a close corporation, this right shall extend to all stock to be issued, including the

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Who is the winning bidder at a delinquency sale, and how are the resulting shares transferred?

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Who is the winning bidder at a delinquency sale, and how are the resulting shares transferred? The delinquent stock is sold at public auction to the bidder who offers to pay the full amount of the balance due, together with accrued interest, costs of advertisement, and expenses of sale, for the smallest number of shares

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How are treasury shares defined, and how may they be subsequently disposed of?

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How are treasury shares defined, and how may they be subsequently disposed of? Treasury shares are defined as shares of stock that have been previously issued and fully paid for, but which the issuing corporation subsequently reacquires (SEC. 9, Revised Corporation Code of the Philippines). This reacquisition can occur through various lawful means, such as

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