Empire East Land Holdings, Inc.
PSE Circular for Brokers No. 1609-99 • Philippine Stock Exchange • Circulars for Brokers • Jul 2, 1999
Full text
July 2, 1999 PSE CIRCULAR FOR BROKERS NO. 1609-99 SUBJECT : Empire East Land Holdings , Inc . This is with reference to Circular No. 1594-99 relative to Empire East Land Holdings, Inc. ("ELI") confirmation of a news article published in the July 1, 1999 issue of the Manila Times which reported that the company wants to settle its P1.2 billion loan with the Government Service Insurance System (GSIS) through a dacion en pago arrangement. prcd ELI, in clarification of its previous disclosure, explained that: ". . . We reiterate that there are on-going negotiations with the Government Service Insurance System ("GSIS") on the possible settlement of the company's obligation to GSIS but said negotiations pertain to a variety of settlement schemes and is not necessarily limited to a dacion en pago arrangement. We also confirm that no final agreement has been reached by the parties. . . For your information. (SGD.) ATTY. RUBEN L. ALMADRO Officer-in-Charge
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