Philippine Stock Exchange
PSE Circular for Brokers No. 047-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 5, 1998
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February 5, 1998 PSE CIRCULAR FOR BROKERS NO. 047-98 February 4, 1998 PHILIPPINE STOCK EXCHANGE, INC. Listing and Disclosure Group Philippine Stock Exchange Centre Exchange Road Ortigas Center, Pasig City Gentlemen : This is relative to your fax message dated February 2, 1998 to our Alberto O. Cuarteron. This will confirm that the Company during the last quarter of 1997 terminated and/or retired the majority of its employees in Makati and in the mine areas, Cruz, Marinduque as a result of the shutdown of the operations ordered by the Department of Environment and Natural Resources (DENR). The non-operation has depleted the financial resources of the Company to sustain its activities under a shutdown mode. cdpr We hope that we have clarified this matter. Thank you. Very truly yours, (SGD.) TEODULO C. GABOR President
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