The company did not disclose the required number of common shares for a nominee to get elected to the board. Because he is a member of the royal family of Saudi Arabia, he is addressed His Royal Highness. As a record stockholder, the prince holds 100,000 TBGI shares, which, would not qualify him to the company’s board of directors. For this purpose, TBGI increased in 2002 its authorized capital stock to 380 million common shares from 150 million common shares. Among them were Strategic Equities Corp. with 31,796,209 TBGI common shares, or 15.21 percent; and Premium Securities Inc., 10.386 million TBGI common shares, or 4.97 percent.

Source: Manila Times August 07, 2016 14:15 UTC