PSE Circular for Brokers No. 1131-99

May 19, 1999 PSE CIRCULAR FOR BROKERS NO. 1131-99 SECURITIES & EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-l(b)(3) THEREUNDER 1. May 18, 1999 Date of Report (Date of earliest event Reported) 2. SEC Identification Number: 5223 3. BIR Tax Identification No.: 230-000-453-086 4. EQUITABLE BANKING CORPORATION (EBC) Exact name of registrant as specified in its charter 5. Metro Manila Province, country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code 7. 262 Juan Luna Street, Binondo, Manila 1006 Address of principal office Postal Code 8. (632) 242-7101 Registrant's telephone number, including area code 9. Not Applicable 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 Shares 316,770,000 11. Indicate the item numbers reported herein: Item 9 In the regular meeting of the Board of Directors of EBC held on May 18, 1999, the Board of Directors approved the following: 1. Increase in EBC's authorized capital stock from Php 5 billion to Php 10 billion divided into 10 billion shares with par value of P1.00 per share; 2. The merger of EBC with Philippine-Commercial International Bank (PCIB), the terms of which shall be determined by Management and which shall be presented to the Board of Directors and the Stockholders for ratification; LibLex 3. The holding of special Stockholders' Meeting on July 20, 1999 for the approval of the increase in EBC's authorized capital stock and the final terms of the EBC-PCIB merger as approved by the Board of Directors and the date June 7, 1999 as the Record Date for purpose of determining the stockholders entitled to notice and to vote at such Special Stockholders' Meeting; 4. Amendment of Article XV, Section 4, first and second paragraphs, of the EBC By-Laws to delete the phrase "not exceeding 45 days" therein, thereby removing the said period as the required maximum interval (a) between the record date and the proposed date of any stockholders' meeting, payment of dividend, effectivity of any change, conversion or exchange of shares or allotment of rights of stockholders, or (b) between the date of closing of the books of the Corporation against transfer of stock and the date any of the aforementioned events; and 5. Declaration of cash dividend at the rate of Php 0.30 per share payable on or before July 15, 1999 to all stockholders of record as of June 15, 1999. Cash Dividend Cash Dividend P0.30 per share Ex-Cash June 9, 1999 Record Date June 15, 1999 Date Payable July 15, 1999 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. EQUITABLE BANKING CORPORATION Registrant By: (SGD.) ELMER B. SERRANO Officer-in-Charge Corporate Information Office