The Stock Issuance Agreement is a crucial document used when a Philippine corporation wishes to issue new shares to investors or existing shareholders. It serves as the primary legal instrument documenting the share subscription transaction, ensuring compliance with the Revised Corporation Code of the Philippines and Securities Regulation Code. This agreement is typically used in various scenarios including capital raising, strategic investments, employee stock ownership programs, or corporate restructuring. The document must address specific Philippine regulatory requirements, including foreign ownership restrictions if applicable, corporate approvals, and SEC regulations. It contains detailed provisions on share valuation, payment terms, representations and warranties, and closing conditions, while also considering tax implications and documentary requirements under Philippine law.
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1. Parties: Identification of the issuing corporation and the subscriber(s) of the shares
2. Background: Context of the stock issuance, including corporate authorizations and purpose of the issuance
3. Definitions: Key terms used throughout the agreement
4. Subscription and Issuance: Details of shares being issued, including class, number, and par value
5. Purchase Price: Total consideration and price per share
6. Payment Terms: Method, timing, and conditions of payment for the shares
7. Closing: Conditions precedent, closing mechanics, and deliverables
8. Representations and Warranties: Statements of fact and assurances from both the company and subscriber
9. Covenants: Ongoing obligations of the parties
10. Default and Remedies: Consequences of breach and available remedies
11. Governing Law and Jurisdiction: Choice of Philippine law and jurisdiction for dispute resolution
12. Miscellaneous: Standard provisions including notices, amendments, and severability
1. Pre-emptive Rights: Details of existing shareholders' rights to maintain their ownership percentage
2. Foreign Ownership Compliance: Required when shares are issued to foreign investors, ensuring compliance with Philippine foreign ownership restrictions
3. Tax Matters: Specific provisions regarding tax obligations and responsibilities
4. Registration Rights: Rights and procedures for future registration of shares with regulatory authorities
5. Board Seat Rights: Rights of subscriber to nominate board members, if applicable
6. Anti-dilution Protection: Provisions protecting subscriber from future dilution of ownership
7. Drag-along and Tag-along Rights: Rights in case of future sale of shares
1. Schedule A - Share Details: Detailed breakdown of shares being issued, including class, rights, and restrictions
2. Schedule B - Corporate Authorizations: Copies of board resolutions and shareholder approvals authorizing the issuance
3. Schedule C - Disclosure Schedule: Exceptions to representations and warranties
4. Schedule D - Payment Schedule: Detailed payment terms if involving installment payments
5. Appendix 1 - Form of Share Certificate: Template of the share certificate to be issued
6. Appendix 2 - Closing Checklist: List of all documents and actions required for closing
7. Appendix 3 - Shareholders' Agreement: If applicable, terms governing relationship between shareholders
Relevant legal definitions
Agreement
Articles of Incorporation
Board
Board Resolution
Business Day
By-laws
Closing
Closing Date
Company
Consideration
Corporate Records
Disclosure Schedule
Effective Date
Encumbrance
Event of Default
Fully-Diluted Basis
Governmental Authority
Issue Price
Law
Material Adverse Effect
Ordinary Shares
Par Value
Parties
Person
Philippine SEC
Preferred Shares
Purchase Price
Revised Corporation Code
Securities Regulation Code
Share Certificate
Shareholders
Shares
Stock Transfer Agent
Subscription
Subscriber
Subscription Price
Tax
Transaction Documents
Transfer
Warranties
Articles of Incorporation
Board
Board Resolution
Business Day
By-laws
Closing
Closing Date
Company
Consideration
Corporate Records
Disclosure Schedule
Effective Date
Encumbrance
Event of Default
Fully-Diluted Basis
Governmental Authority
Issue Price
Law
Material Adverse Effect
Ordinary Shares
Par Value
Parties
Person
Philippine SEC
Preferred Shares
Purchase Price
Revised Corporation Code
Securities Regulation Code
Share Certificate
Shareholders
Shares
Stock Transfer Agent
Subscription
Subscriber
Subscription Price
Tax
Transaction Documents
Transfer
Warranties
Clauses
Subscription and Issuance
Payment Terms
Conditions Precedent
Representations and Warranties
Covenants
Closing Conditions
Share Transfer Restrictions
Pre-emptive Rights
Tag-along Rights
Drag-along Rights
Anti-dilution Protection
Board Representation
Information Rights
Regulatory Compliance
Foreign Ownership Compliance
Tax Matters
Confidentiality
Non-competition
Default
Remedies
Indemnification
Force Majeure
Assignment
Notices
Amendment
Waiver
Severability
Entire Agreement
Governing Law
Dispute Resolution
Payment Terms
Conditions Precedent
Representations and Warranties
Covenants
Closing Conditions
Share Transfer Restrictions
Pre-emptive Rights
Tag-along Rights
Drag-along Rights
Anti-dilution Protection
Board Representation
Information Rights
Regulatory Compliance
Foreign Ownership Compliance
Tax Matters
Confidentiality
Non-competition
Default
Remedies
Indemnification
Force Majeure
Assignment
Notices
Amendment
Waiver
Severability
Entire Agreement
Governing Law
Dispute Resolution
Relevant Industries
Technology
Manufacturing
Real Estate
Financial Services
Healthcare
Retail
Energy
Infrastructure
Telecommunications
Agriculture
Mining
Professional Services
Education
Transportation
Entertainment
Relevant Teams
Legal
Finance
Corporate Secretarial
Compliance
Treasury
Investor Relations
Risk Management
Corporate Planning
Board Secretariat
Corporate Communications
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Corporate Secretary
Legal Counsel
Compliance Officer
Investment Manager
Corporate Lawyer
Finance Director
Board Director
Company President
Investor Relations Manager
Treasury Manager
Risk Management Officer
Business Development Manager
Corporate Planning Manager
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