PSE Circular for Brokers No. 005-00

January 3, 2000 PSE CIRCULAR FOR BROKERS NO. 005-00 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C QUARTERLY REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND THE RSA RULE 11(a)-1(b)(3) THEREUNDER 1. December 29, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number AS094-008360 3. BIR Tax Identification No. 003-944-039 4. Exact name of registrant as specified in its charter Uniwide Holdings, Inc. 5. Philippines 6. (SEC Use Only) Province, Country or other jurisdiction of Industry Classification Code: incorporation or organization 7. 90 E Rodriguez Jr. Avenue, Bo. Ugong Norte, Libis Quezon City 1200 Address of principal office Postal Code 8. (632)/635-2603 or 633-5951 to 60 loc. 761 Registrant's telephone number, including area code 9. Not applicable Former address 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock P1.00 2,548,109,762 11. Indicate the item numbers reported herein: Item 9 Item 9. Other Events We wish to inform the Commission that the Securities and Exchange Commission (SEC) approved the sale of the assets of First Paragon Corporation (FPC), member of the Uniwide Group of Companies, to I Mart international Corporation. The sale was made through a Memorandum of Agreement executed on December 9, 1999. Copy of Order dated December 20, 1999 is attached for your reference. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNIWIDE HOLDINGS, INC. Registrant (SGD.) SUSANA O. LIGERALDE Comptroller SEC CASE NO. 06-99-6340 IN THE MATTER OF: PETITION FOR SUSPENSION OF PAYMENT, FORMATION AND APPOINTMENT OF REHABILITATION RECEIVER/COMMITTEE AND APPROVAL OF REHABILITATION PLAN. UNIWIDE SALES, INC., et al., petitioners ORDER The Receivership Committee, in its letter of September 28 and October 8, 1999, reported that the assets of one of the petitioners herein, First Paragon Corporation (FPC), are fast deteriorating and recommended that the same assets be converted into cash to held in escrow pending approval of the Rehabilitation Plan. There are, however, impediments which have to be threshed out first before selling them such as the existence of the leasehold rights and that the shares of FPC are pledged with a bank as well as the creditor's consent thereto. cdlex Considering that FPC's major creditors, Equitable PCI Bank and Philippine Bank of Communications , have no objection to the proposed sale of FPC's assets as contained in their letters to the Commission dated October 1, 1999 and October 15, 1999 respectively, subject to certain conditions, this Hearing Panel is of the view that the interest of FPC's creditors is best served with the proposed conversion of deteriorating assets into cash. WHEREFORE , the sale of the assets of FPC to I Mart International Corp. made through a Memorandum of Agreement executed on December 9, 1999 is hereby APPROVED , the proceeds of which shall be held in escrow in Solid Bank subject to certain terms and conditions as stated in the Memorandum of Agreement. Accordingly, the said cash proceeds shall then be subject of whatever rights the claimants have against FPC. The Receivership Committee is hereby directed to comply with the applicable laws and rules and regulations under the premises. SO ORDERED . City of Mandaluyong, Philippines. LibLex December 20, 1999. (SGD.) PERFECTO R. YASAY, JR. Chairman (SGD.) ENRIQUE L. FLORES, JR. (SGD.) MANOLITO S. SOLLER Hearing Officer Hearing Officer