Bankrupt Ever-Gotesco to be renamed EverWoods, to raise capital to P7.5B

Debt-saddled Ever-Gotesco of businessman Jose Go is getting a major makeover.
The EVER board chaired by Go’s son, Joel, has approved to change the company’s name to Everwoods Green Resources and Holdings.
The name change is part of the firm’s two-step financial restructuring plan.
EVER will also jack up its authorized capital stock to up to P7.5 billion to raise capital to fund the expansion of its new business ventures.
Ampao collector: Antonio Tiu takes over as president of bankrupt Ever Gotesco
The company will hold its annual meeting on August 26.
EVER will also jack up its authorized capital stock to up to P7.5 billion to raise capital to fund expansion of its new business ventures EVER will hold its annual meeting on August 26.
The changes came five months after businessman Antonio Tiu was elected as president of EVER.
The Go family owns 65 percent of EVER which closed six percent up to 27.5 centavos on P15 million turnover shortly after its disclosure.