PSE Circular for Brokers No. 1345-99

June 8, 1999 PSE CIRCULAR FOR BROKERS NO. 1345-99 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. Date of Report (Date of earliest event reported): 7 June 1999 2. SEC Identification No.: 60566 3. BIR Tax Identification No.: 004-504-2281-VAT 4. Exact name of registrant as specified in its charter: EAST ASIA POWER RESOURCES CORPORATION (formerly Northwest Holdings & Resources Corporation) 5. Philippines Province, country or other jurisdiction of incorporation 6. (Use Only) Industry Classification Code: 7. 20th Floor OMM-CITRA Condominium, San Miguel Avenue, Pasig City 1605 Address of principal office Postal Code 8. (632) 633-1626 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 937,055,028 Outstanding Shares US$49,000,000.00 and PhP10,000,000.00 in Outstanding Debt 11. Indicate the item numbers reported herein: Item No. 9 (Other Events) 12. Report on Item No. 9 Other Events The Board of Directors of East Asia Power Resources Corporation ("EAPRC" or the "Company"), wishes to inform the Securities & Exchange Commission ("SEC") and the Philippine Stock Exchange, Inc. ("PSE") that: (1) The special meeting of the stockholders of the Company, authorized to be called by the Company's Board of Directors in its meeting of 22 April 1999, scheduled on 26 May 1999 did not push through; (2) The Company's Annual Stockholder's Meeting, which under the Company's By-Laws should be held on the last Wednesday of June or on 30 June for the year 1999, and which was authorized by the Company's Board of Directors in its meeting of 22 April 1999 to be called on 2 June 1999 was rescheduled to 14 June 1999 at 10:00 in the morning, to be held at the Palawan Function Rooms 2 and 3 of the EDSA Shangri-La Plaza, Mandaluyong City. The Company called for an Annual Stockholders' Meeting earlier than the schedule under its By-Laws in lieu of calling a Special Stockholders' Meeting. The rescheduling from 2 June 1999 to 14 June 1999 was necessitated by the delay in the filing of the Company's Financial Statements and Annual Report for the Fiscal Year ended 31 December 1998. The following will be submitted for the approval of the Stockholders: (i) Increase in the Authorized Capital Stock from PhP1.3 Billion to PhP6.0 Billion; (ii) Minutes of the Annual Stockholders' Meeting held on 24 June 1998; and (iii) Financial Statements for the Fiscal Year ended 31 December 1998. (3) The Company was ordered by the SEC to pay a fine of P118,500.00 for its failure to file its Annual Report on SEC Form 11-A and Quarterly Report on SEC Form 11-Q on time. The Company was likewise order by the PSE to pay a fine of P50,000.00 for its failure to file its Annual Report on time. Payments on these fines will be made today. LLpr 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. EAST ASIA POWER RESOURCES CORPORATION by: (SGD.) J. ILDEBRANDO B. AMBROSIO Assistant Corporate Secretary