Computations

Computations

To show why public investors have did not select a director or  to the board of Jolliville, Due Diligencer did a few computations.

It could not be true, as Jolliville confirmed in its POR, that its public stockholders owned 34.24 percent of the organization’s 281.Five million excellent stocks. The facts within the business enterprise’s GIS showed only 33 stockholders as owners of 280.224 million JOH stocks, which represent ninety nine.5 percent of wonderful stocks.

Subtract one hundred seventy five.799 million JOH shares, the quantity of stocks held by using most people owners and affiliates indexed in Jolliville’s POR, from 280.224 million JOH stocks held by 33 stockholders inside the GIS and you get 104.424 million shares, or 37.096 percent.

Deduct again 50.016 million JOH stocks held by means of most people proprietor’s pals from 104.424 million JOH stocks, and the distinction of 54.408 million JOH stocks, or 19.328 percentage, belong to different bigger shareholders together with the proprietors’ allies.

Due Diligencer is not attributing to the public the ownership of 104.424 million JOH stocks, or 37.096 percent, which would too huge to be believed. Rather, these had been held – and nevertheless are held – by affiliated stockholders as shown in Jolliville’s list of pinnacle one hundred stockholders.

The public will definitely be puzzled by way of the confusing presentation of the ownership of stockholders in Jolliville’s top one hundred listing, its GIS and POR.

JOLLIVILLE Holdings Corp. (JOH)

JOLLIVILLE Holdings Corp. (JOH) stated in a popular records sheet (GIS) that as of June 2016, it had 33 Filipino stockholders and one foreigner who owned 280.224 million stocks and 1.276 million shares, respectively.

It also stated its total 34 stockholders owned 281.5 million stocks, which represent the corporation’s incredible shares out of one billion in legal capital stock.

The lone foreigner who owns 1.276 million JOH shares, or zero.45 percent, become now not recognized. His/her Jolliville shares were held by means of PCD Nominee as file stockholder.

Due Diligencer checked the data towards Jolliville’s public ownership document (POR) which listed Elgeete Holdings Inc. As main stockholder, with one hundred twenty five.784 million JOH shares or 44.Sixty eight percent of the entire. Four of Jolliville’s pals held 50.016 million JOH stocks, or 17.76 percent.

A POR suggests the quantity of shares that public investors own. In the case of Jolliville, it credited the public with
ninety six.392 million JOH stocks, or 34.24 percent. That share should make Jolliville greater public than others.

Ironically, while the holdings of Jolliville’s public stockholders may be taken into consideration large, these did no longer, and nonetheless do no longer, translate to club in the employer’s seven-character board. Instead, their seats had been allocated to two impartial directors, particularly Dexter E. Quintana and Sergio Ortiz-Luis.

By the way, as a listed employer, Jolliville, which owns some of gentlemen’s golf equipment, become registered on Sept. Three, 1986 with the Securities and Exchange Commission. It could not have acquired SEC approval had it honestly copied the call of Jollibee Foods Corp., the homegrown fast meals chain.