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Deed of Assignment of Stock Subscription With Assumption of Obligation
Deed of Assignment of Stock Subscription With Assumption of Obligation
LINO BROCKA, Filipino, of legal age, with address at 123 Apollo Street,
Moon City, hereinafter referred to as the ASSIGNOR;
-and-
WITNESSETH:
WHEREAS, ASSIGNOR has actually paid twenty five percent (25%) or One
Hundred Six Thousand Eight Hundred Seventy Five (PHP106,875.00) Pesos for the
aforementioned shares which he has subscribed in said the Corporation;
WHEREAS, ASSIGNOR offers to sell all his Forty Two Thousand Seven Hundred
Fifty (42,750) shares of stock subscription to the ASSIGNEE, including the
corresponding rights, titles and interests as a subscriber of FLOWER GROUP, INC. and
the latter agrees and accepts the said offer;
NOW THEREFORE, for and in consideration of the sum of ONE HUNDRED SIX
THOUSAND EIGHT HUNDRED SEVENTY FIVE (PHP106,875.00) PESOS, the receipt of
ONE HUNDRED SIX THOUSAND EIGHT HUNDRED SEVENTY FIVE (PHP106,875.00)
PESOS, which is hereby acknowledged by the ASSIGNOR in full, the ASSIGNOR by
virtue of these presents, hereby ASSIGNS, TRANSFERS, CEDES and CONVEYS,
absolutely and forever, unto and in favor of the aforementioned ASSIGNEE, his heirs,
nominees and assigns, all rights, title and interests in and to the abovementioned stock
subscription of FORTY TWO THOUSAND SEVEN HUNDRED FIFTY (42,750) SHARES,
free from liens and encumbrances;
Page 1 of 3
ASSIGNOR hereby certifies that the stock subscription herein transferred is his
own and exclusive property, and further warrants the title to the said subscription unto
the ASSIGNEE, and will defend the same unto the ASSIGNEE against the legal claim or
claims of any person or persons whatsoever;
The parties hereby mutually agree to sign, execute, acknowledge, seal and
deliver any such further documents, instruments, agreements, papers and other writing
as may be necessary to carry into full effect this Deed of Assignment of Stock
Subscription.
IN WITNESS WHEREOF, the parties have hereunto set their hands this ___ day
of ______________ 2018, in ____________________, Philippines.
__________________________ __________________________
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ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the City of _____________, personally
appeared the following:
Expires _____________
Lino Brocka Driver’s License No.__________ /LTO East Avenue,
Quezon City
Expires _____________
Charito Solis Driver’s License No.__________ /LTO East Avenue,
Quezon City
known to me to be the same persons who executed the foregoing Deed of Assignment
of Stock Subscription consisting of three (3) pages including this acknowledgment,
signed by the parties and their instrumental witnesses and who acknowledged to me
that the same is their free and voluntary act and deed.
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ASSUMPTION OF OBLIGATION
WHEREAS, I, CHARITO SOLIS, Filipino, of legal age, and resident of 456 Sputnik
Road, Moon City, am a stockholder of FLOWER GROUP, INC., a corporation duly organized
and existing under the laws of the Philippines, with principal office at Quezon City, and being
the vendee/transferee of Forty Two Thousand Seven Hundred Fifty (42,750) shares of the
Corporation’s stock with a par value of Four Hundred Twenty Seven Thousand Five Hundred
(PHP427,500.00) Pesos by virtue of a Deed of Assignment of Stock Subscription executed by
LINO BROCKA;
WHEREAS, only twenty five percent (25%) of the total par value/subscription price of
the aforementioned shares or One Hundred Six Thousand Eight Hundred Seventy Five
(PHP106,875.00) Pesos has been paid to the said Corporation, leaving an unpaid subscription
balance of THREE HUNDRED TWENTY THOUSAND SIX HUNDRED TWENTY FIVE
(PHP320,625.00) PESOS;
WHEREAS, as a condition of the transfer of the aforesaid shares in my name and in the
books of the Corporation, I must assume the obligation of paying the said unpaid subscription
balance;
IN WITNESS WHEREOF, I have hereunto set my hand this ___ day of ______________
2018, in ____________________, Philippines.
CHARITO SOLIS
__________________________ __________________________
BEFORE ME, this ___ day of ___________ 2018 at _______________ City, personally
appeared Charito Solis with Driver’s License No. ____________ issued at LTO East Avenue,
Quezon City and expires on ________________, known to me to be the same person who
executed the foregoing instrument and acknowledged to me that the same is his own free and
voluntary act and deed.
IN WITNESS WHEREOF, I have unto set my hand and affixed my notarial seal on the
date and at the place first above written.