Vivant taps STSI as stock transfer agent

By Lenie Lectura -February 18, 2020
from Business Mirror

VIVANT Corporation has tapped Stock Transfer Service, Inc. (STSI) as its stock transfer agent, replacing RCBC Trust and Investments Group.

“Vivant Corporation has engaged Stock Transfer Service, Inc. (STSI) as its stock transfer agent, to replace RCBC Trust and Investments Group resigned as the Stock Transfer Agent of Vivant Corporation after almost six years of partnership,” it said in a disclosure Monday.

The board approved this last February 3 and will take effect on April 18.

“The resignation by RCBC Trust and Investments Group was a result of the downsizing of the stock transfer agency services,” it added.

The Cebu-based firm earlier said it was setting aside P1 billion this year to achieve a target attributable capacity of 500 megawatts (MW) in three years.

Twenty percent of the planned 500MW capacity is renewable energy. To date, Vivant Energy Corp., which manages the investments of publicly listed Vivant Corporation in the energy sector, has an attributable capacity of 282 MW composed of diesel and coal-fired power projects.

Last week, a subsidiary of Vivant Energy Corp. and the Bantayan Electric Cooperative (Banelco) signed a 15-year power supply deal meant to provide a stable and reliable energy source in Bantayan Island.

The parties signed a 15-megawatt (MW) power supply agreement. Under the agreement, Isla Norte Energy Corporation—a consortium of Vivant Energy, Vivant Integrated Diesel Corporation and Gigawatt Power Inc. (GPI)—will install a 23.31-MW diesel-fired power plant in the town of Bantayan.

The remaining eight megawatts could serve Bantayan’s growing demand for electricity in the years to come.

“We look forward to a happy partnership with Isla Norte in the next 15 years,” said Banelco President Oscar Seares during the signing.

Vivant Integrated Diesel is a wholly owned subsidiary of Vivant Energy Corp.

“We welcome this opportunity to contribute to the continued growth of Bantayan. Having a stable and reliable supply of energy is vital to the economic and social development of the community and we’re honored to be the one given this responsibility. We want to do good here because this is in our home, Cebu,” said Vivant Energy Corp. COO Emil Andre Garcia.

“The service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives are more than satisfactory. This is something that we commit to Banelco,” said GPI President Walden Tantuico.