24/09/2026
NOTICE TO MEMBERS
We wish to update the membership on recent developments concerning the Special Ancillary Membership Program (āSAM Programā) and the scheduled auction of a Proprietary Membership Fee Certificate.
Over a period of approximately six weeks, five (5) separate communications were transmitted to and followed up with the Securities and Exchange Commission (āSECā) by a certain Francis Jasper āKeikoā Fulgar, who is not a member of VVCCI and is publicly identified as the Head of External Affairs of JuanHand, apparently on behalf of certain individuals who identify themselves as concerned members of the Club.
For the information of the membership, the matters raised in these communications were not first formally brought to Management or the Board for clarification through the Clubās internal channels. The later communications likewise sought the suspension or deferment of certain Club programs and activities.
The Club likewise considers it relevant to note that these continuing communications and follow-ups with the SEC have been undertaken by a person who is not himself a member of the Club, although apparently acting on behalf of certain members identified in the submissions.
To date, the Club has not been notified that any formal complaint arising from these communications has been docketed against VVCCI, nor has the SEC directed the Club to respond to them. Nevertheless, given the number and nature of the communications, the Club considered it prudent to place its factual and legal position on record with the SEC even before any formal inquiry or directive requiring a response was issued. This was done without intending to pre-empt the Commissionās authority or discretion, but simply to ensure that the Clubās position and the interests of the broader membership are likewise properly presented.
For transparency, the Club is circulating copies of the relevant communications submitted to the SEC, together with the Clubās response so that members may review the matters for themselves.
The Club will continue to keep the membership informed of material developments and remains committed to transparency, proper governance, and full cooperation with the SEC.
You may access all relevant attachments here: https://drive.google.com/drive/folders/1M5dfRBZZ5_k5S2iG9Ye-gOZ8xrY1X-Pq
Thank you for your understanding.
