PSE Circular for Brokers No. 2098-98
PSE Circular for Brokers No. 2098-98 • Philippine Stock Exchange • Circulars for Brokers • Sep 8, 1998
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September 8, 1998 PSE CIRCULAR FOR BROKERS NO. 2098-98 Disclosure Department Listing and Disclosure Group Philippine Stock Exchange, Inc. (PSE) Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig, Metro Manila Gentlemen/Mesdames : In connection with your request for a written confirmation and clarification on the news article in the September 4, 1998 issue of the Business World and captioned "Petron privatization plan awaits go signal", we wish to stress that the intended sale by PNOC of its shares in Petron has not been officially relayed to the Petron Board of Directors nor to Petron Management. Thus, we affirm that as far as Petron is concerned, there are no plans as of yet on how PNOC's share in the oil firm will be divested. Petron is not aware of the Administration's privatization plans for the company. cdpr We wish to state however, that the Shareholders' Agreement between PNOC and the Arabian Oil Company B.V. dated March 4, 1994 will govern any sale either by PNOC or AOC of the shares. We hope that the foregoing satisfies your requirements. Very truly yours, (SGD.) LIBERADOR V. VILLEGAS Corporate Secretary
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