PSE Circular for Brokers No. 2222-98

September 25, 1998 PSE CIRCULAR FOR BROKERS NO. 2222-98 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. September 24, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 19073 3. BIR Tax Identification No. 350-000-288-6981 4. FIRST PHILIPPINE HOLDINGS CORPORATION Exact name of registrant as specified in its charter 5. N/A Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 6th Floor, Benpres Building, Meralco Avenue cor. Exchange Road, Pasig City 1600 Address of principal office Postal Code 8. 2-631-8024 to 30 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 Share of Common Stock Outstanding and Amount of Debt Outstanding Class "A" Common Shares 242,912,631 shares Class "B" Common Shares 152,249,234 shares Total 395,161,865 shares Long Term Commercial Paper (LTCP) P2,000,000,000 11. Indicate the item numbers reported herein: Item No. 9 Item 9 During the regular meeting of the Board of Directors of the Corporation held on September 24, 1998, the following matters were approved or confirmed, to wit: 1. Declare a P0.10 cash dividend payable on or before October 30, 1998. LLphil 2. October 10, 1998 as the record date of the cash dividend and record date for stockholders who are entitled to notice and to vote in the Annual Stockholders Meeting on November 9, 1998. 3. Amend Section 7, Article I of the By-Laws to reduce the number of days for the submission of proxies from at least ten (10) working days to at least five (5) working days. 4. Amend Section 2, Article II of the By-Laws to change the date of determination of Directors from five (5) working days before the Annual Stockholders Meeting to that of the last regular Board Meeting prior thereto. 5. Amend Article Seventh of the Articles of Incorporation to exclude from the pre-emptive rights of stockholders shares to be allocated for adjustments in cases of conversion resets pertinent to the US$90 Million Convertible Notes. Pasig City, September 24, 1998. CASH DIVIDEND CASH P0.10 PER SHARE EX-CASH OCTOBER 6, 1998 RECORD DATE OCTOBER 10, 1998 DATE PAYABLE ON OR BEFORE OCTOBER 30, 1998 FIRST PHILIPPINE HOLDINGS CORPORATION By: (SGD.) RODOLFO R. WAGA, JR. Asst . Corporate Secretary