Lopez Holdings Corporation and subsidiary First Philippine Holdings Corporation have again moved back the dates for their respective annual stockholders’ meetings amid the ongoing dispute between a majority of the Lopez family and their cousin Federico “Piki” Lopez.

According to Lopez Holdings, its Board of Directors has approved the further postponement of the Annual Stockholders’ Meeting previously rescheduled for August 7, 2026, to September 14, 2026, at 10 a.m., via remote communication.

“The postponement will give the Corporation time to comply with the comments and requirements of the Securities and Exchange Commission on its Preliminary Information Statement which it received today,” the firm explained.

First Philippine Holdings also pointed to directives from the SEC Ad Hoc Committee on Matters Concerning the Lopez Group of Companies (Committee), as stated in a letter emailed to the company at 9:05pm on July 17, 2026 to reschedule its ASM from July 27, 2026 “to a date not more than 60 days from July 27, 2026. This is to give FPH sufficient time to undertake the steps necessary for the conduct of an ASM.”

The Committee likewise ordered the inclusion of a board election in the ASM agenda, subject to the limitations provided in the duly issued orders of the Mandaluyong City Regional Trial Court Branch 209 (RTC), including the Writ of Preliminary Injunction (WPI).

The RTC orders, including the WPI, prohibit and restrain the defendants in the case, including their successors, representatives, and all persons acting for and on their behalf, from replacing Piki Lopez as officer, director or corporate representative in any corporation where Lopez, Inc. holds shares and exercises voting rights through its President, and committing any act that would render the judgment in said case ineffectual, moot or academic.

“The FPH board of directors will convene a special meeting to agree on a new date and other details for the ASM,” it added.

The SEC has directed both firms to proceed with their respective annual stockholders’ meetings as there is no reason not to hold board elections under their by-laws for as long as they do not violate the court’s WPI.

However, to give them enough time to issue notices, information statements, and secure clearances from the SEC as publicly-listed companies, the firms will be allowed by the SEC to reschedule their ASMs again.

The Securities Regulation Code Rule 20.3.3.4 requires that the information statement and management report should be distributed to stockholders at least 15 business days before the date of the ASM.

Also, Section 49 of the Revised Corporation Code requires that a written notice of a regular stockholders’ meeting must be sent to stockholders of record at least 21 days before the meeting.