Negros Navigation Company, Inc.
PSE Circular for Brokers No. 1947-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 5, 1999
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August 5, 1999 PSE CIRCULAR FOR BROKERS NO. 1947-99 SUBJECT : Negros Navigation Company, Inc . Negros Navigation Company, Inc. ("NN") clarified to the Exchange a news article entitled "Metro Pacific seen in talks with WG&A for Nenaco sale" published in the August 4, 1999 issue of Business World. The article reported that market talks are rife that Metro Pacific Corporation (MPC) is negotiating with William, Gothong and Aboitiz (WG&A) for the sale of NN. In a letter dated August 4, 1999, NN stated that: ". . . Discussions have been conducted between MPC, Nenaco and WG&A with respect to improving the shipping industry in the Philippines. These discussions have focused on route rationalization with a view to improving the quality of service to customers and have, therefore, also involved other local shipping companies. In addition, most of the shipping companies have been in discussion regarding the need to ensure that reasonable rate increases are permitted by the relevant regulatory bodies to ensure that the industry is able to provide an effective and appropriate service. . ." In another letter, NN clarified further: ". . . I have no knowledge of any negotiation between Metro Pacific Corporation and William, Gothong & Aboitiz regarding the sale of Negros Navigation Co., Inc. . . For your information. LexLib (SGD.) JOSE LUIS U. YULO, JR. President and CEO
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