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THE SECURITIES and Exchange Commission (SEC) has approved the decrease in Ever-Gotesco Resources and Holdings, Inc.’s authorized capital stock and amendments to its articles of incorporation, including a corporate name change as the company shifts its business focus. “We were informed by the SEC that the decrease in the authorized capital stock of the corporation and the amended articles of incorporation (AOI) pertaining to the amendments made to Articles I, III, and VII have been approved by the SEC on Oct. 28, 2025,” the company said in a disclosure on Thursday. The SEC approval covers the change of the company’s name to Everwoods Green Resources & Holdings, Inc., reflecting its planned venture into the agri-tourism and bamboo industries. In 2021, the listed firm entered the agri-eco-tourism segment by acquiring Everwoods Management and Development, Inc. (formerly 3-J Development Corp.) and Agriwave, Inc., which are involved in eco-tourism, agricultural production, and the cultivation of high-value crops. Everwoods Management operates resorts integrating leisure and environmental conservation, including the Forest Crest Nature Hotel and Resort in Batangas. In 2022, the company announced plans to start bamboo farming and production on its Cebu property and engaged experts to conduct master planning and pre-feasibility studies. The master plan was completed in December 2023. According to information on its website, Ever-Gotesco has recently shifted its focus to the attractions and immersive entertainment sector in line with the recovery of the tourism industry. Under the SEC-approved amendments, the company’s authorized capital stock has been reduced to P2.5 billion from P5 billion, while the par value per share was lowered to 10 centavos from P1. Despite the lower par value, the number of authorized shares rose to 25 billion from 5 billion. “The increase… aims to attract more investors and raise capital for its new business ventures: agri-tourism and bamboo industry,” the company said. The SEC also approved the change in the company’s principal office address. On Thursday, the Philippine Stock Exchange (PSE) suspended trading of the company’s shares following the capital stock reduction and the amendments to its articles of incorporation. The suspension will remain until the company submits the required documents to the PSE as part of its ongoing quasi-reorganization process. Ever-Gotesco ended its mall and cinema operations in 2017, while its subsidiary, Gotesco Tyan Ming Development, Inc., ceased operations in June 2015. — Alexandria Grace C. Magno
