JURISDICTION: PHILIPPINES

4. Ang Corp. has an outstanding capital stock of One hundred Fifty Million Pesos (P 150,000,00000) divided into 4,000 shares of stock. The shares of stock are owned by three main groups of shareholders. The Ong Group, who owns 2,500 shares, the Tan Group who owns 1,000 shares and the Go Group who owns 500 shares. The board of directors of Ang Corp. consists of five (5) directors, Ace, Brian, Alfred, Jared and Maynard. A move was made by the Tan Group to remove Brian as a director of the corporation in meeting called for that purpose. The reason for the removal of Brian is so that they can elect a new director Michael who comes from their group. Brian is from the Go Group. During the election Brian was elected to be removed from the board of directors of the corporation. Is his removal valid? Explain your answers fully and provide your legal basis (5 pts.)