In a meeting held today, the Board of Directors of Lorenzo Shipping Corporation (LSC) officially approved the listing of a substantial block of common shares with The Philippine Stock Exchange, Inc. (PSE).
The approved listing covers a total of 435,531,748 common shares, which were previously issued to National Marine Corporation (NMC) in two separate tranches:
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270,000,000 common shares issued on December 27, 2024
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165,531,748 common shares issued on April 24, 2025
This pivotal corporate action marks a major milestone in LSC’s ongoing capital restructuring and strategic alignment with its primary stakeholders. By pursuing the official PSE listing of these shares, Lorenzo Shipping Corporation demonstrates its continued commitment to transparency, regulatory compliance, and enhancing shareholder value.
The integration of these shares into the local bourse is expected to bolster the company’s capital structure, providing a stronger foundation as LSC continues to navigate and expand within the domestic shipping and logistics sector.
The company also announced key leadership transitions following the regular meeting of its Board of Directors held today. The changes reflect the company’s ongoing commitment to robust corporate governance, strategic oversight, and continuity in its leadership ranks.
The Board formally accepted the resignation of Director Michael L. Escaler, expressing its deep gratitude for his invaluable contributions, dedication, and guidance throughout his tenure with the Company.
Following rigorous screening and clearance by the Corporate Governance Committee, the Board elected Mr. Herminio M. Famatigan, Jr. as an Independent Director of the Corporation, filling the vacancy and bringing extensive expertise to the Board.
To ensure high standards of accountability and effective management, the Board appointed the chairmen and members of its primary governance committees for the 2026–2027 term:
Audit Committee
Herminio M. Famatigan, Jr. (Chairman, Independent Director)
Virgilio L. Peña (Member, Independent Director)
Deogracias N. Vistan (Member)
Rene J. Buenaventura (Member)
Antony Louis Marden (Member)
Risk Oversight Committee
Virgilio L. Peña (Chairman, Independent Director)
Herminio M. Famatigan, Jr. (Member, Independent Director)
Deogracias N. Vistan (Member)
Rene J. Buenaventura (Member)
Antony Louis Marden (Member)
Corporate Governance Committee
Rene J. Buenaventura (Chairman)
Virgilio L. Peña (Member, Independent Director)
Herminio M. Famatigan, Jr. (Member, Independent Director)
Doris Teresa Magsaysay Ho (Member)
Deogracias N. Vistan (Member)
Related Party Transactions Committee
Deogracias N. Vistan (Chairman)
Virgilio L. Peña (Member, Independent Director)
Herminio M. Famatigan, Jr. (Member, Independent Director)
Rene J. Buenaventura (Member)
