REPUBLIC OF THE PHILIPPINES)

CEBU CITY ) S.S

x- - - - - - - - - - - - - - - - - - - - - - - - - x

CERTIFICATION BY PRESIDENT THAT PROPERTIES FOR

DIVIDEND DECLARATION ARE NO LONGER NEEDED FOR
BUSINESS PURPOSES

I, ____________________, of legal age, Filipino, married, and a

resident of Cebu City, being duly sworn, depose and state the following:

1. That I am the duly elected and qualified President (the Corporation), a

corporation duly organized and existing under and by virtue of the Republic
of the Philippines, with principal office at Mandaue City;
2. That on the ____ day of_______, 2020, the Board of Directors held a special
meeting and resolved to issue property dividends to all its common
stockholders on record as of the ______ day of ________, 2020;
3. That below are the following properties so resolved by the Board of
Directors to be distributed as property dividends:
Location of Land Total Total Assessed Value Total Zonal
Property Classification Land Value
Area

4. That the above-stated properties so described accordingly are no longer needed

in pursuance to the business of the Corporation.

Cebu City,____day of _____, 2020.

President

SUBSCRIBED AND SWORN TO before me on this _______ day of

__________ 2020, in Cebu City, Philppines, affiant exhibiting to me his Tax
Identification No. (TIN).

Doc. No._____
Page No._____
Book No._____
Series of 2020.