Caritas health shield inc makati: Recapitalization seen key to Caritas staying financially healthy

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Indeed, efforts to recapitalize the company have failed at least twice because the board of directors was unable to secure the approval of a majority of its stockholders, which included Jumamil, who still owns a little over 20 percent of the company’s stock. Asset sale The company is pinning its recapitalization hopes on the sale of some of its real estate assets, including one of its most valuable: Two floors of the Petron Megaplaza building along Sen. Gil Puyat Avenue in Makati City, worth at least P270 million—an act that needed the approval of shareholders.

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