Quasi-reorganization: What is this all about?

VITARICH Corp., according to the company’s general information sheet (GIS) of 2017, has an authorized capital stock of 3.5 billion common shares, of which 2.786 billion are outstanding. The common shares have a par value of P1 each.

Of Vitarich’s 4,223 stockholders, 4,205 are Filipinos, who own 2.515 billion common shares, or 90.241 percent, while 18 are foreigners, who hold 271.937 million common shares, or 9.759 percent.

As of Dec. 31, 2016, Vitarich and its subsidiaries had “823 employees, composed of supervisors, managers, executives and rank- total, 441 were regular and 382 were contractual.

of Vitarich, according to the GIS, are unionized under the Vitarich Corporation Employees/Workers Union Chapter of the Federation of Free Workers. The company’s collective bargaining agreement with the union took effect on Aug. 1, 2015 and will end on July 31, 2020.

As of June 30, 2017, Vitarich reported in down from P2.417 billion as of Dec. 31,