Global Equities, Inc.
PSE Circular for Brokers No. 1407-98 • Philippine Stock Exchange • Circulars for Brokers • Jun 24, 1998
Full text
June 24, 1998 PSE CIRCULAR FOR BROKERS NO. 1407-98 June 23, 1998 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City RE : Global Equities, Inc . Gentlemen : Please be advised that in the Meeting of the Board of Directors held today, 23 June 1998, the Directors unanimously approved the sale of the Company's 60% equity in Bonanza Realty, Inc. ("BRI") to Karrivin Holdings Corp., a personal holding company of Nora A. Bitong for a total consideration of Three Hundred Sixty Two Million Thirty Four Thousand Eight Hundred Two Pesos (P362,034,802.00). The only asset of BRI are two (2) parcels of land located at Pasong Tamo Extension, Makati City with an aggregate area of approximately eight thousand six hundred fifty (8,650) square meters. dctai The proceeds from sale of the Company's 60% equity in BRI shall be used to reduce the debts of the Company. Very truly yours, GLOBAL EQUITIES INC. By: (SGD.) ARSENIO C. CABRERA, JR. Corporate Secretary
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