PSE Circular for Brokers No. 1728-99

July 14, 1999 PSE CIRCULAR FOR BROKERS NO. 1728-99 July 13, 1999 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. July 13, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number: PW-2 3. BIR Tax Identification No. 049-000-103-216 4. A. SORIANO CORPORATION Exact name of registrant as specifies in its charter 5. Metro Manila, Phil. Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 7th Floor, Pacific Star Bldg., Makati Ave., Makati City Address of principal office Postal Code 8. 819-0251 Registrant's telephone number, including area code 9. N.A. 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 3,035,689,042 11. Indicate the item numbers reported herein: Item No. 2 Disposition of Assets Item 2. Disposition of Assets On July 8, 1999, the Registrant sold its rights under (a) the loan agreement dated September 14, 1995, and (b) the loan agreement dated January 1, 1997, as well as the notes issued pursuant to such loan agreements. The two loan agreements are between the Registrant and Unilink Communications Corporation and are for the aggregate principal amount of P289 million. Unilink owns Home Cable. cdt Philippine Long Distance Telephone Company bought 75% of the loan agreements and the notes for P650.25 million. The PLDT Beneficial Trust Fund bought the remaining 25% for the benefit of its wholly-owned subsidiary, Mediaquest Holdings, Inc. for P227,515,972.50. By these transactions, the Registrant will realize an estimated gross gain of P578 million. 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. A. SORIANO CORPORATION Registrant By: (SGD.) REGINALDO L. HERNANDEZ Vice President and Asst . Corporate Secretary