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Board Resolution-ABC Company-Format-Sample

The Board of Directors of ABC Company passed a resolution on March 26, 2030 to lease, sell, or transfer a substantial property owned by the company. The resolution requires approval from stockholders representing at least two-thirds of outstanding capital stock. The property will be sold at its fair market value based on an initial offer by Juan Dela Cruz. A special stockholders' meeting will be held to discuss and vote on the proposed action, with voting conducted remotely. Juan Dela Cruz will formulate guidelines for evaluating prospective buyers to present at the special meeting.

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Eiron Bajen
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362 views2 pages

Board Resolution-ABC Company-Format-Sample

The Board of Directors of ABC Company passed a resolution on March 26, 2030 to lease, sell, or transfer a substantial property owned by the company. The resolution requires approval from stockholders representing at least two-thirds of outstanding capital stock. The property will be sold at its fair market value based on an initial offer by Juan Dela Cruz. A special stockholders' meeting will be held to discuss and vote on the proposed action, with voting conducted remotely. Juan Dela Cruz will formulate guidelines for evaluating prospective buyers to present at the special meeting.

Uploaded by

Eiron Bajen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ABC COMPANY

BOARD RESOLUTION

PROPOSING TO
LEASE OUT OR SELL REAL PROPERTY

Duly Passed on March 26, 2030

WHEREAS, there has been presented to and discussed at this regular meeting of the Board of
Directors of ABC COMPANY (herein referred to as “Corporation”) held through
videoconferencing on March 26, 2030, a proposed action to lease out or sell a substantial
property of the Corporation, namely the land and building covered by TCT No.
________________ (hereinafter referred to as “subject property”);

NOW THEREFORE, BE IT RESOLVED, that the subject property, be leased out, disposed,
sold, transferred or conveyed to another person or entity after the stockholders representing at
least two-thirds (2/3) (hereinafter referred to as “Stockholders”) of the outstanding capital stock
shall have given their consent and authority.

FURTHER RESOLVED, that the subject property shall be sold at the fair market value based
on the initial offer price and the minimum floor price, presented by JUAN DELA CRUZ.

FURTHER RESOLVED, that a special meeting on ________________ shall be called for the
purpose of discussing and voting for the proposed action among stockholders, and a written
notice of said proposed action and of the time and place for the meeting shall be addressed to
stockholders at their places of residence as shown in the books of the corporation.

FURTHER RESOLVED, that by majority vote of the Board, the special meeting will be
conducted through remote communication, as permitted under Securities and Exchange
Commission (SEC) Memorandum Circular No. 06, Series of 2020.

FINALLY RESOLVED, that JUAN DELA CRUZ shall formulate the guidelines and procedures for
the documentation, registration and evaluation of the prospect buyers and upon approval by
the Board of Directors, shall present the same to the stockholders during the special meeting on
_____________________.

APPROVED: 26 March 2030.

___________________________ ___________________________
DIRECTOR DIRECTOR

___________________________ ___________________________
DIRECTOR DIRECTOR

___________________________
DIRECTOR
CERTIFICATION

I, ____________, of legal age, Filipino citizen and a resident of ___________________,


after having been duly sworn to in accordance with law, do hereby depose and say:

1. That I am the duly elected and acting Secretary of ABC COMPANY; and

2. That I certify that the foregoing constitutes a Resolution of the Board of said
Corporation, as duly adopted at a meeting of the Board of Directors thereof, held on the
26st day of March, 2030 via videoconferencing.

IN WITNESS WHEREOF, I have hereunto affixed my signature on


_________________________ at Davao City, Philippines.

Corporate Secretary

SUBSCRIBED AND SWORN to before me this __________________ in Davao City,


Philippines, affiant exhibiting to me his competent evidence of identity by way of
_________________________________.

Doc. No. ____ ;


Page No. _____;
Book No. _____;
Series of 2021.

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