LISTED retailer Wilcon Depot, Inc. said on Thursday that its board had approved a proposed change in its incorporation papers to include business names that will reflect its aim to expand market share.
In a disclosure to the stock market, the seller of home improvement and construction supplies said it will be adding Do It Wilcon and Bargain Center by: Wilcon Depot to the names and styles that it uses in doing business.
Do It Wilcon will provide an “opportunity to expand market share by targetting customers who require easy access to a basic range of tools and materials for simple housing repairs and maintenance,” the company said. It will be found in community centers or malls.
Meanwhile, Bargain Center by: Wilcon Depot will provide an “additional distribution channel for pruned items,” referring to discontinued or older products at prices lower than in retail stores.
The proposed amendment to Wilcon Depot’s articles of incorporation was approved by the board of directors on Feb. 22. It will be presented to shareholders for approval during the company’s annual stockholders’ meeting on June 19.
Wilcon Depot said the amendment “is not expected to have any negative or adverse effect on the business operations and/or capital structure” of the company.
On Thursday, its shares rose 1.75% or P0.55 to finish at P32 apiece on the stock exchange. — Adrian H. Halili