Our Business

On April 12, 2011, the Department of Energy approved the conversion of Coal Operating Contract 148 of ABACOAL to Development and Production phase. The proposed 5-year work program was evaluated and found to be technically and financially qualified to undertake development and production of coal resources located at Tago, Surigao del Sur. To do so, the Company has undertaken several activities to prepare itself and pave the way for full project implementation.

The Board of Directors has initiated a series of capital raising activities to finance working capital requirements and general corporate purposes, and create or acquire projects or investments and initiatives for expansion. Contracted business interests in a Coal Property in Surigao del Sur, through the acquisition of ABACOAL, will be the first venture of the Company.

By way of background, on September 24, 2008, the Company entered into a Heads of Agreement with Music Semiconductors Corporation (“MSC”) and Abacus Consolidated Resources Holdings, Inc. (“ACRHI”) for the joint acquisition by the Company and MSC of all issued and outstanding shares of stock of ABACOAL, a subsidiary of ACRHI. ABACOAL is a company engaged in the commercial exploration and development of coal

On May 21, 2009, the Company amended the Agreement for Joint Investment dated September 24, 2008 between the Company and MUSX Corporation resulting in the assignment to the Company of MUSX’s 55% interest and participation in the Abacoal Investment. In 2010, ABACOAL and the Company further revised the terms of the Heads of Agreement. In the revised agreement, the Company shall acquire the Coal Property and all the other assets and liabilities of ABACOAL by and through a merger, with Lodestar as the surviving entity.

As of June 30, 2012, the merger between the Company and ABACOAL is not yet executed but said agreements are still binding.

Our Company

Business Profile

LODESTAR is an investment holding company incorporated on January 3, 1974 with the following primary purpose:

“To purchase , subscribe for, or otherwise acquire, own, hold, use, sell, assign, transfer, mortgage, pledge, exchange or dispose of real and/or personal properties of every kind and description, including shares of stock and other securities, contracts, or obligations of any corporation or association, domestic or foreign, and to pay therefore, in whole or in part, in cash or in property or by exchanging stocks, bonds or other corporation, and while the owner or holder of any such real or personal property, stocks, or other securities, contracts or obligations, to receive, collect, and/or dispose of the interest, dividend and/or income from such property, and to possess and exercise in respect thereof all the rights, powers and privileges of ownership, including all voting powers on any stocks so owned; and to do every act and thing covered generally by the denomination “Holding Corporation of other Corporations” through the ownership of stocks therein, provided, however, that the corporation shall not act as an investment company or security broker and/or dealer nor exercise the functions of a trust corporation.”

Mission, Vision and Values

Lodestar Investment Holdings Corporation (the Company) shall strive to become one of the leaders in its industry through the development and implementation of strategic plans, operating goals and objectives across its entire organization of competent directors, management and personnel. 

Board of directors, management team and executive officers

It is the Board of Directors’ (Board) responsibility to foster the long-term success of the Corporation, and to sustain its competitiveness and profitability in a manner consistent with corporate objectives and the best interests of shareholders. The Board’s role is one of stewardship.  It is mandated to take care of the interests of the shareholders and protect their investments through the implementation of sound corporate policies and plans while maintaining its independent assessment on Management’s performance. 

As currently provided under its By-laws, the Board is composed of seven (7) directors including two (2) independent directors.

The membership of the Board may be a combination of executive and non-executive directors (which include independent directors) in order that no director or small group of directors can dominate the decision- making process.

The non-executive directors should possess such qualifications and stature that would enable them to effectively participate in the deliberations of the Board.

For the year 2013 to 2014, the Company’s Board of Directors, Management Team and Executive Officers are as follows:

Board of Directors

Name

Age

Nationality

Period Served

Antonio Victoriano F. Gregorio III

41

Filipino

Since 2009

Chi Ho Co

42

Filipino

Since 2008

Jose Francisco E. Miranda

36

Filipino

Since 2012

Leonardo S. Gayao

68

Filipino

Since 2010

Manuel G. Acenas

68

Canadian

Since 2012

Felixes G. Latonero

(Independent Director)

40

Filipino

Since 2011

Lam Kok Duen (Independent Director)

57

Filipino

Since 2013

Management Team and Executive Officers

 

Name

Position

Antonio Victoriano F. Gregorio III

Chairman

Chi Ho Co

President

Jose Francisco E. Miranda

CFO / Treasurer

Venus L. Gregorio

Corporate Secretary

Compliance Officer

Corporate Information Officer

Organizational Chart

Shareholding structure

 

Number of shares

Amount (PhP)

Authorized Capital

1,000,000,000

100,000,000.00

Subscribed Capital

740,000,000

74,000,000.00

Paid up Capital

 

74,000,000.00

Par Value

Php1.00

 

Articles of incorporation and by-laws and all amendments

[Down PDF file here]