Step 1: Convert Scripless Shares to Physical Certificates
If you hold scripless or digital shares with us, you need to convert these shares to physical certificates. The deadline for receiving upliftment requests is 5pm on August 11, 2023. To initiate the conversion, please submit the following scanned documents to us:
- Upliftment Request Form
- Photocopy of two (2) government-issued IDs bearing your signatures
- Signature Card
A processing fee of ₱167 will be charged to your trading account.
Email scanned copies of the accomplished documents to customerservice@firstmetrosec.com.ph
Forms can be downloaded at https://help.firstmetrosec.com.ph/hc/en-us/articles/21243062518681-HLCM-Tender-Offer-Forms
Once the physical certificates are ready, we will promptly notify you and make arrangements according to the instructions you provide in the Upliftment Request Form. You can choose to have the certificates delivered via mail or opt to pick them up from our office. If the shares are not claimed within 30 days, we will proceed to deliver them to your registered mailing address.
Step 2: Submit Tender Documents
To tender your HLCM shares, you need to submit the following ORIGINAL documents to Stock Transfer Service, Inc. (STSI) on or before 12 noon of August 30, 2023:
- 3 copies of Application to Tender
- 3 copies of Deed of Absolute Sale
- Endorsed Stock Certificate signed by shareholder
- 2 copies of Irrevocable Proxy
- Special Power of Attorney
- 2 copies of Specimen Signature Card
- 2 valid photo and signature bearing IDs
- Proof of acquisition cost of the tendered shares
- Copy of Tax Identification Number with BIR RDO Code
- Notarized, Consularized or Apostilled Irrevocable Special Power of Attorney (for those unable to submit personally)
Forms can be downloaded at https://help.firstmetrosec.com.ph/hc/en-us/articles/21243062518681-HLCM-Tender-Offer-Forms
The contact details of STSI are:
Telephone: 8403-2410 / 5307-5037
Address:
Stock Transfer Service, Inc.
34F Unit D, Rufino Pacific Tower
6784 Ayala Ave., Makati City
Step 3: Collect Initial Payment
On September 13, 2023, STSI will disburse the initial payment amounting to 75% of the tender offer proceeds to you through a check. You have the option to collect the check at STSI's office from September 13, 2023, and for the next thirty (30) days thereafter. Should the checks remain unclaimed during this period, STSI will proceed to deliver them to the shareholders at the registered address provided in the Application Form.
Please note that the remaining 25% will be disbursed to you after you have obtained a Certificate Authorizing Registration (CAR) from the Bureau of Internal Revenue (BIR) and submitted it to STSI.
Step 4: Secure Certificate Authorizing Registration (CAR)
A CAR, issued by the BIR, serves as proof of tax payment on the shares you've sold, covering both capital gains tax and documentary stamp tax. Without this Certificate, the BIR will not allow the issuance of a new stock certificate in the buyer's name.
To obtain the CAR, you must first pay the CGT and DST at the Revenue District Office (RDO) where you are registered. Once these taxes are paid, you can apply for the CAR at the Revenue District Office (RDO) where HLCM is registered.
After obtaining the CAR, you need to submit it to STSI to claim the remaining 25% of the tender offer proceeds. This payment will be made within five (5) calendar days of submission. However, if you fail to submit the CAR to STSI within six months, they will file it on your behalf, and any taxes and expenses incurred will be deducted from the balance.