I am Christine Marie T.

Ramirez from BSA 2201 and I am going to discuss

Section 25. Report of Election of Directors, Trustees and Officers, Non-holding of Election and Cessation
from Office.

Under this section, within thirty (30) days after the election, the secretary, or any other officer of the
corporation, shall submit to the Commission, the elected trustees’ and officers’ names, nationalities,
shareholdings, and residence addresses. However, if they failed to elect directors, trustees and officers
they must also report it to the commission. For instance, if no election is held; or the owners of majority
of the outstanding capital stock or majority of the members entitled to vote are not present in person,
by proxy, or through remote communication or not voting in absentia at the meeting. As i have said, it
must be reported to the Securities and Exchange commission together with the reasons of failure to
elect within 30 days from the date of the scheduled election and must include the rescheduled date
which shall not be later than 60 days from the scheduled date.

If the corporation did not include the rescheduled date or if they failed to elect again, The Securities and
exchange commission have the power to order the corporation to held an election. Like, directing the
issuance of a notice stating the time and place of the election, designated presiding officer, and the
record date or dates for the determination of stockholders or members entitled to vote.

Should a director, trustee or officer die, resign or in any manner case to hold office, the secretary or the
director, trustee or officer of the corporation, shall, within seven (7) days form knowledge thereof,
report in writing such fact to the Commission.