LTDI Eyes Higher Shares Offering
PSE Circular for Brokers No. 1438-98 • Philippine Stock Exchange • Circulars for Brokers • Jun 26, 1998
Full text
June 26, 1998 PSE CIRCULAR FOR BROKERS NO. 1438-98 LTDI EYES HIGHER SHARES OFFERING The board of directors of La Tondena Distillers Inc. (LTDI) has approved a proposal to increase its proposed issuance of convertible preferred shares from the P1.2 billion the board approved earlier to a maximum of P2.0 billion. The board approved the new shares issue last June 10, including the amendment of its Articles of Incorporation, to provide for the convertible preferred shares. The amendment will be presented for shareholders' approval at a special stockholders' meeting scheduled on July 16, 1998. At the same meeting, the company will also seek the waiver by the shareholders of their pre-emptive rights to the new issue of shares. LTDI expects the issuance to, among others, provide the company flexibility in paring down its debts. cdlex
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.