SP New Energy Corp. on Tuesday said the Securities and Exchange Commission (SEC) had approved a change in its company name to MGEN Renewables, Inc. to consolidate the branding of its business units.
In a disclosure, the company said that it had received an electronic Certificate of Filing of Amended By-Laws from the SEC, which confirmed the approval of its application for corporate name change.
SP New Energy said the change in its company name would not have any impact, material or otherwise, to its business, operations, or its capital structure.
The company noted that the issuance of the original SEC Certificate of Filing of Amended Articles of Incorporation and By-Laws remained subject to post-audit requirements of the SEC.
It also said that the proposed new stock symbol from “SPNEC” to “MGENR” was still up for approval by the Philippine Stock Exchange.
SP New Energy’s share price rose by 2 centavos to P1.25 apiece on Tuesday.
