PSE Circular for Brokers No. 008-99
PSE Circular for Brokers No. 008-99 • Philippine Stock Exchange • Circulars for Brokers • Jan 5, 1999
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January 5, 1999 PSE CIRCULAR FOR BROKERS NO. 008-99 January 4, 1999 The Philippine Stock Exchange Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Centre PSE Center, Exchange Road Ortigas Center, Pasig City Fax No. 636-0809/637-8811 Code No. H-8010 Attention: Mr . Reynard P . Hong Vice President Listings & Disclosure Group Gentlemen : Please be informed that in view of the supervening changes in the economic conditions in general, and the depreciation of the Philippine peso in particular, Mabuhay Holdings Corporation (MHC) and Allied Kajima Ltd. (AKL) have mutually agreed today to terminate their previous agreement in 1996 whereby MHC agreed to buy, and AKL agreed to sell to MHC, AKL's 51% interest in the Westin Philippine Plaza Hotel. With the aforesaid termination, AKL returned to MHC the P20 million initial deposit previously paid by MHC to AKL. LibLex Very truly yours, (SGD.) DELFIN P. ANGCAO Corporate Secretary
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