According to Roy Yanson, reconciliation talks among their clan, which runs Vallacar Transit Inc. (VTI), parent company of the Ceres bus liner, may begin next week, September 4. He said he had earlier visited his mother, Olivia Yanson, at her home, where they spoke for two hours.
“We want our mother to know our feelings,” he said during a press conference yesterday. “I am sincere [in seeking] reconciliation.”
“Our mom said that she is already tired of our situation and she wants us to settle as soon as possible,” he added.
Yanson was joined at the press conference by his siblings Celina Yanson-Lopez and Ricardo Yanson, Jr., alongside Attys. Sheila Sison and Raul Bitoon.
“After our talks, we could possibly set some parameters on what to do and not to do,” Ricardo noted.
For Yanson-Lopez, who serves as the company’s chief financial officer, she touched upon the accusations brought forward by their mother regarding an alleged P380 million in losses under her watch.
“I felt so sad about it,” she said. “Mom and my siblings know that I don’t steal—not even a single centavo from the company—I [was] not raised that way.”
“I am not affected because I am not guilty of anything,” she added.
The siblings also rehashed the matter regarding the family shareholders’ agreement, signed in October 2013 and included Olivia Yanson’s signature, affirming the ‘Yanson 4,’ the three plus Emily Yanson, control 62 percent of the company.
Roy Yanson pointed out, their mother made demands for her shares to be returned to her, along with the right to three votes in the company.
He explained, if she were to be given back her shares, they believe she would hand them over to their other siblings, VTI President Leo Rey Yanson and Ginette Yanson-Dumancas, which they are against.
Yanson also called it “not acceptable” for his mother to be provided three votes when, as a corporate matter, each shareholder is entitled to one vote.
“She wants to have three because we are four, which is the majority, and they are only three [on] their side,” he explained. “If she will be given three voting rights, they will outnumber us.”
Yanson also noted, according to the family constitution, in-laws are not permitted to sit on the board./DGB, WDJ