Connect with us

Hi, what are you looking for?


Manila Mining board approves capital increase to P3.4 billion

THE board of directors of Manila Mining Corp. approved an increase in the listed firm’s authorized capital stock to P3.4 billion as part of a plan to settle liabilities.

“The present authorized capital stock of the company is almost fully subscribed. The increase in capital will enable the company to resume exploration drilling and settle liabilities,” it said in a disclosure to the stock exchange on Wednesday.

The board approved the capital hike from P2.6 billion on March 9.

Manila Mining’s capital will be divided into 204 billion shares of common class “A” stock with a par value of one centavo per share.

The remaining capital will be 136 billion shares of common class “B” stock also with a par value of one centavo apiece.

The new figures are higher than the previous 156 billion shares of common class “A” stock and 104 billion common class “B” stock, which both have a par value of one centavo per share.

According to Manila Mining, the increase in authorized capital stock will be recommended to its stockholders for approval during their annual stockholders’ meeting scheduled on April 29.

“[The board] agreed to recommend to the stockholders that the board be authorized to take appropriate steps and means to support the increase in the authorized capital stock,” the disclosure said.

According to its website, Manila Mining ceased operations in 2001 after its permit to operate its tailings dam was not renewed by the Department of Environment and Natural Resources.

On Wednesday, Manila Mining’s “A” shares were flat at P0.010 apiece, while its “B” shares rose 1.01% to close at P0.010 each. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The national pig herd has lost-one tenth of all sows over the last six months, farmers’ associations have revealed, after breeders were forced into...


EasyJet plunged £213 million into the red in the Christmas quarter and is still burning through £150 million in cash each month, putting its...


A new range of healthy yet indulgent cookies will launch in Booths this month for just £1 per pack with the UK-born snacks by...


Payments firm has raised $1bn (£730m), giving it a $40bn (£29bn) valuation and crowning it the UK’s most valuable private fintech. The London-headquartered...


Sylvera, a UK-based startup that provides ratings for carbon offsets, has raised $32.6m (£24.1m) in a Series A funding round to accelerate and expand...


UK-based fintech Everything has raised €2m (£1.67m) to reinvent a decades-old financial product: premium bonds. The raise was led by a group of angel...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.