Stakeholders
Shareholders
Notice of Annual Stockholders’ Meeting
Annual Stockholders’ Meeting 2025 Minutes
View a recording of the 2025 ASM here.
As a publicly listed corporation, Lopez Holdings Corporation (“LPZ”) subscribes to all the rules and regulations of the Securities and Exchange Commission (SEC) and of the Philippine Stock Exchange (PSE), including those relating to the development of the Philippine capital market.
LPZ welcomes retail and institutional investors who wish to acquire LPZ shares through the PSE. Their attendance and participation are welcome at stockholders’ meetings.
The company encourages its shareholders to attend and participate in stockholders’ meetings either in person or by proxy. The annual stockholders’ meeting (ASM) on June 19, 2025 at 10 a.m. was held virtually at AGM@Convene. The ASM on June 11, 2026 at 10 a.m. will also be held remotely. Shareholders as of April 30, 2026 may register to attend the virtual meeting.
The Revised Corporation Code of the Philippines (the “Corporation Code”) requires the following matters to be approved by stockholders, and as such our stockholders have the right to vote on the same:
1) Amendment of the articles of incorporation and by-laws (Sections 15, 47 and 102);
2) Removal of director (Section 27);
3) Approval of material contracts (Section 31);
4) Increase or decrease in capital stock, and incurring, creation of or increase in bonded indebtedness (Section 37);
5) Extending or shortening of the corporate term (Section 36);
6) Sale of all or substantially all assets of the corporation (Section 39);
7) Denial of pre-emptive rights (Section 38);
8) Plan of merger or consolidation (Section 76); and
9) Dissolution (Sections 134 and 135).
Pursuant to the Revised Corporation Code, our shareholders enjoy pre-emptive rights to subscribe to issuances or dispositions of shares of the corporation (Section 38). Shareholders have the right to be furnished financial statements (Section 74). Shareholders have the right of appraisal under Sections 80 and 81.
Our shareholders have the right to nominate and vote for directors of the corporation (Section 23). Our by-laws provide that all nominations for directors should be submitted to the corporate secretary at least ten (10) calendar days before the date of the stockholders’ meeting. The nomination shall be in writing.
With respect to the election of directors, stockholders may vote such number of shares for as many persons as there are directors to be elected or he may cumulate said shares and give one candidate as many votes as the number of directors to be elected or he may distribute them on the same principle among as many candidates as he shall see fit, provided that the total number of votes cast by him shall not exceed the number of shares owned by him multiplied by the whole number of directors to be elected.
Voting upon all matters included in the agenda of a stockholders’ meeting shall be by shares of stock. One share has one vote. A stockholder may vote at all meetings the number of shares registered in his name either in person or by proxy. Our by-laws provide that proxies should be sent to the corporate secretary for verification at least ten (10) calendar days prior to the date of the stockholders meeting.
Employees
As reflected in its Corporate Code of Conduct, Lopez Holdings considers its employees as partners in success. The Company is committed to fostering a work environment in which employees are treated with respect and dignity.
Lopez Holdings strives to provide its employees with opportunities for professional advancement, care for their professional needs and the enhancement of the quality of life of their families. It is committed to finding effective ways to foster professionalism, teamwork and employee participation to attain higher levels of productivity and quality.
The Company hires employees based on merit, qualifications, competencies, and potential. Employees are motivated and trained to achieve the highest level of efficiency and competence. Responsibility as good corporate citizens and members of society is impressed upon employees.
As partners in the success of the Company, Lopez Holdings employees enjoy merit-based compensation and benefits. The company’s performance management system provides for needs-based learning and active feedback on individual and team performance. Its Code of Conduct and Discipline clearly communicates desired behavior consistent with the Lopez Values, as well as lists sanctions for unacceptable behavior.
Lopez Holdings presently has 10 full-time employees
Training and Development
Lopez Holdings is committed to lifelong learning. It has an established process for identifying the learning and development needs of employees at every level. It provides resources for necessary and appropriate learning solutions, consistent with corporate goals. The corporate learning and development plan is reviewed and updated on an annual basis. The plan includes leadership, behavioral and technical skills trainings.
The company aims to have each employee undergo at least three training man-days per year. Employees underwent mostly virtual learning sessions with an average of 2.9 training man-days in each of the years 2025 and 2024, and 3.2 training man-days in 2023.
Employee Health, Safety and Wellness
Lopez Holdings treats employees as partners in the success of the company. Their health and well-being are of prime importance in sustaining productivity and company growth. Health benefits, including a hospitalization plan, constitute a significant component of the company’s employment package. Regular employees undergo annual medical examinations and flu vaccinations, as well as virtual seminars or webinars on physical, emotional, financial and spiritual wellness. Flu vaccinations in 2025 were done in employees’ homes through a mobile vaccination arrangement with a qualified nurse. Annual physical examinations (APEs) are conducted at the employee’s option in accredited clinics of their choice. Half (50%) of all employees availed their APE benefit for 2025, compared to 64% in 2024, and 82% in 2023. As the company adopted a hybrid workplace, where employees set days on which to report to headquarters, environment, safety and health protocols continued to be observed.
In 2025, out of 160 sick leave (SL) days, two employees used their SL for a total of 13.5 days or 8% utilization. This compares with 20% utilization in 2024 and 11% utilization in 2023.
Employee safety is important to the company. The company ensures that employees are regularly trained in maintaining safety in the workplace and in preparing for and dealing with emergencies. They undergo building exit drills at least once a year, and in 2025, they participated in an exit drill held at company headquarters on April 11, 2025. The company’s ESH committee leads the enforcement of emergency protocols and provides regular ESH updates.
Employee Welfare
It is the policy of the company to look after the general welfare of its employees. The company provides a wide range of benefits to meet employee needs, including life insurance; health care and other medical benefits that extend to immediate family members; vacation and sick leave entitlement; rest and recreation programs; and financial assistance in the form of loan facilities. The company completed its Employee Stock Purchase Plan and Employee Stock Option Plan in 2016.
Employees from vulnerable sectors comprise 40% of Parent’s workforce. They enjoy mandatory benefits such as additional leave credits for solo parents, if applicable, and an accessible workplace for the disabled should they need to go to the office for any reason.
Creditors
In 2011, a tender offer for unrestructured debt allowed Lopez Holdings to purchase at full face value an aggregate principal amount of US$ 13.966 million of the Eurobonds (approximately 71% of the outstanding Eurobonds), and P785.3 million of LTCPs (approximately 90% of LTCPs).
In 2012, Lopez Holdings bought back the remaining Eurobonds amounting to US$5.0 million, and more than P1.0 million worth of LTCPs, both at full face value. In 2015, it purchased P40 million LTCPs at face value of the principal amount.
In 2015, the company redeemed US$13.1 million worth of outstanding Restructured Notes pursuant to the terms of the Notes Issuance Agreement. In addition, all outstanding 4.2% Perpetual Convertible Bonds (130 units) were redeemed at 100% of the principal outstanding amount of US$193,700.
In 2016, Lopez Holdings Corporation redeemed US$5.0 million worth of outstanding Restructured Notes pursuant to the terms of the Notes Issuance Agreement. Also, all outstanding LTCPs with face value of P26 million were redeemed at par.
As of the end of 2016, outstanding direct obligations stood at US$5.0 million in Restructured Notes, and these were fully paid in 2017.
As of the end of 2017, the Corporation had no direct obligations.
This information is also available on Lopez Holdings’ debt restructuring page under Investor Relations, Debt Restructuring Update.
Suppliers and Service Providers
Control of externally provided processes, products and services
Lopez Holdings ensures that purchased products/services conform to specified requirements. The type and extent of control applied to the supplier and the purchased products/services depend on the effect of the purchased products/services on subsequent service realization.
A Purchase Order or Service Contract shall cover information on the purchase, including where appropriate:
a) The processes, products and/or services to be provided;
b) Requirements for approval of the product, procedures, processes and/or equipment;
c) Competence including any required qualification of personnel;
d) External providers interacting with the organizations;
e) Control and monitoring of external providers’ performance; and
f) Verification or validation activities to be performed.
Accreditation and Evaluation
The company’s ISO-certified quality management system requires the accreditation of vendors, as well as their evaluation prior to contract renewal in the case of continuing outsource services.
Lopez Holdings accredits suppliers who agree to its policy on Operation Planning and Control, which lists as part of criteria for the process and acceptance of services the vendor’s agreement to comply with all pertinent laws and standards. These include those that prohibit forced labor, child labor, human rights and environmental violations, bribery and corruption, among others.
Criteria
Lopez Holdings gives importance to the following criteria in accrediting/evaluating suppliers of products and services:
a) Competence and experience in type of engagement applied for;
b) Positive results of or high quality of performance in previous engagements with Lopez Holdings and associated companies;
c) Quick and appropriate response to corporate requirements; and
d) Reasonable price.
Statement on External Auditors
Lopez Holdings paid or accrued audit fees to SyCip Gorres Velayo & Co. (SGV), its external auditors, in the past three years for professional services rendered in the amount P2.0 million in 2025, P1.9 million in 2024, and P1.7 million in 2023, excluding VAT.
In the last three years, SGV was engaged for the conduct of Corporate Governance Training and for the validation of tabulated votes during the Annual Stockholders’ Meetings (ASMs) held on June 19, 2025, June 21, 2024, and June 8, 2023. The company paid SGV P400,000 for said non-audit services in each of the years 2025, 2024 and 2023.
SGV has SEC Partner Accreditation (Group A) and SEC Firm Accreditation (Group A).
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Trunkline: (632) 8878 0000
Fax: (632) 8878 0000 ext 2009
Lopez Holdings Corporation
16/F North Tower, Rockwell Business Center Sheridan,
Sheridan St. corner United St., 1550 Bgy. Highway Hills,
Mandaluyong City, Philippines