PSE Circular for Brokers No. 2249-98
PSE Circular for Brokers No. 2249-98 • Philippine Stock Exchange • Circulars for Brokers • Sep 28, 1998
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September 28, 1998 PSE CIRCULAR FOR BROKERS NO. 2249-98 September 25, 1998 Philippine Stock Exchange, Inc . Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Disclosure Department Listing and Disclosure Group Gentlemen : The Board of Directors, at its regular meeting held this afternoon, has approved and ratified the acquisition by Omico Corporation of the 52% equity holding of Real Development Company, Inc ., a member of the Arcon Group of Companies headed by Mr. Reynaldo A. Concepcion, in Boracay Island Real Hotel Corporation . Accordingly, Boracay Island Real Hotel Corporation shall become a wholly-owned subsidiary of Omico Corporation . dctai The Board likewise approved and ratified the divestment and conveyance of the 48% equity holdings of Omico Corporation in Cebu-Mactan Airport Real Hotel Corporation and Pines City Real Hotel Corporation in favor of Real Development Company, Inc . Accordingly, Cebu-Mactan Airport Real Hotel Corporation and Pines City Real Hotel Corporation shall become wholly-owned subsidiaries of Real Development Co . , Inc . Yours Truly, (SGD.) ATTY. PHILIP B. KING Corporate Secretary
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