Based on the copy of the Beneficial Ownership Declaration form accomplished/executed and submitted by the company to the SEC (by virtue of SEC Memorandum Circular No. 15, s. 2019) and/or to PH-EITI in response to the latter’s official request in line with the sixth PH-EITI reporting cycle. The PEP* (politically exposed person) column is based on the PEP Declaration form accomplished/executed and submitted by the company to PH-EITI upon request. The actual forms submitted are in the custody of the  PH-EITI secretariat within the DOF system and protected by encryption.

*Politically exposed person (PEP) – defined as holding or having held an elective or appointive position in government, either at the national or local level.


The beneficial owners disclosed herein are as of the period covered by the company declarations submitted to PH-EITI in for the FY 2021 PH-EITI reporting.

The following are the categories of beneficial owner as provided and defined in SEC Memorandum Circular No. 15, s. 2019: 


Natural person(s) owning, directly or indirectly or through a chain of ownership, at least twenty-five percent (25%) of the voting rights, voting shares or capital of the reporting corporation.


Natural person(s) who exercise control over the reporting corporation, alone or together with others, through any contract, understanding, relationship, intermediary or tiered entity.


Natural person(s) having the ability to elect a majority of the board of directors/trustees, or any similar body, of the corporation.


Natural person(s) having the ability to exert a dominant influence over the management or policies of the corporation.


Natural person(s) whose directions, instructions, or wishes in conducting the affairs of the corporation are carried out by majority of the members of the board of directors of such corporation who are accustomed or under an obligation to act in accordance with such person’s directions, instructions or wishes.


Natural person(s) acting as stewards of the properties of corporations, where such properties are under the care or administration of said natural person(s).


Natural person(s) who actually own or control the reporting corporation through nominee shareholders or nominee directors acting for or on behalf of such natural persons.


Natural person(s) ultimately owning or controlling or exercising ultimate effective control over the corporation through other means not falling under any of the foregoing categories.


Natural person(s) exercising control through positions held within a corporation (i.e., responsible for strategic decisions that fundamentally affect the business practices or general direction of the corporation such as the members of the board of directors or trustees or similar body within the corporation; or exercising executive control over the daily or regular affairs of the corporation through a senior management position). This category is only applicable in exceptional cases where no natural person is identifiable who ultimately owns or exerts control over the corporation, the reporting corporation having exhausted all reasonable means of identification and provided there are no grounds for suspicion.

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A government-led, multi-stakeholder initiative implementing EITI, the global standard that promotes the open, accountable management, and good governance of oil, gas, and mineral resources. PH-EITI was created on 26 November 2013 through EO No. 147, s. of 2013. It is a government commitment first announced through EO No. 79, s. of 2012.

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