PSE Circular for Brokers No. 2027-98
PSE Circular for Brokers No. 2027-98 • Philippine Stock Exchange • Circulars for Brokers • Sep 1, 1998
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September 1, 1998 PSE CIRCULAR FOR BROKERS NO. 2027-98 31 August, 1998 PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Fax Nos. 636-0809/634-5113 Attention: Reynaldo P . Ong Head, Compliance & Surveillance Dept . Gentlemen : We are pleased to report that in the Special Meeting of the Board of Directors of FIL-ESTATE LAND, INC. ("FELI") held today, the Board approved the issuance of 300,000,000 million common shares with a par value of P1.00 each of FIL-ESTATE MANAGEMENT INC. ("FEMI") from the unissued authorized capital stock of FELI in conjunction with an agreement for FEMI to convert its receivables amounting to P300,000,000.00 into shares of stock of FELI. prLL The issuance of the new shares is in line with FEMI's commitment to increase its ownership stake in its majority-owned listed company, FELI. Very truly yours, FIL-ESTATE LAND, INC. By: (SGD.) MICHAEL TOLEDO SVP-Corporate External Affairs & Communications
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