PSE Circular for Brokers No. 1065-99

May 13, 1999 PSE CIRCULAR FOR BROKERS NO. 1065-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. May 10, 1999 Date of Report (Date of earliest event Reported) 2. SEC Identification Number CE-02536 3. BIR TIN 003-828-26.9-V 4. ABOITIZ EQUITY VENTURES, INC. Exact name of registrant as specified in its charter 5. Cebu City, Philippines Province, country or other jurisdiction of incorporation 6. Industry Classification Code 7. Archbishop Reyes Ave., Banilad, Cebu City 6000 Address of principal office Postal Code 8. (032) 2310-705 Registrant's telephone number, including area code 9. N.A. Former name or former address, if changed since last report 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 Par Value 5,379,821,574 Amount of Debt Outstanding P2,468,081,000.00 11 Indicate the item numbers reported herein: 4 and 9 (a)(1)(0) I. Item 4 . Election of Directors and Officers A. Election of Directors The Stockholders of Aboitiz Equity Ventures in their annual meeting held at the Ballroom of the Cebu City Marriott Hotel on May 10, 1999, elected the following as members of the Board of Directors of the Corporation: LLphil 1. Mr. Luis Aboitiz, Jr. 2. Mr. Enrique M. Aboitiz, Jr. 3. Mr. Jon R. Aboitiz 4. Mr. Justo A. Ortiz 5. Mr. Erramon I. Aboitiz 6. Mr. Aloysius B. Colayco 7. Mr. Roberto E. Aboitiz B. Election of Officers Immediately after the Annual Stockholders Meeting, the newly-elected members of the Board of Directors were convened for the organizational meeting. In this meeting, the following were elected officers of the Corporation: Chairman of the Board Mr. Luis M. Aboitiz, Jr. President & Chief Executive Officer Mr. Jon R. Aboitiz Exec. VP & Chief Operating Officer Mr. Erramon I. Aboitiz Senior VP & Chief Financial Officer & Corporate Information Officer Mr. Juan Antonio E. Bernad First Vice President Mr. Rene D. Almendras Vice-President Mr. Luis Miguel Aboitiz Vice-President & Treasurer Mr. Gabdel T. Maalac Vice President & Project Dev. Officer Mr. Benjamin A. Cariaso, Jr. Vice President & Business Dev. Officer Mr. Joel Mari Yu AVP-Comptroller Ms. Melinda R. Bathan Corporate Secretary Mr. Jesus A. Santiago Assistant Corporate Secretary Ms. Sylva A. Paderanga II. Item 6 . Changes in Securities The stockholders also approved and ratified the resolutions passed and approved by the Board of Directors' in its meeting held on March 29, 1999, authorizing the amendment of Article VII of the Articles of Incorporation providing for the increase of its authorized capital stock from P10 Billion to P14 Billion, issuance of preferred shares, and the waiver of pre-emptive rights. 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. LLjur ABOITIZ EQUITY VENTURES, INC. By: (SGD.) SYLVA A. PADERANGA Assistant Corporate Secretary