PSE Circular for Brokers No. 2303-98
PSE Circular for Brokers No. 2303-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 5, 1998
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October 5, 1998 PSE CIRCULAR FOR BROKERS NO. 2303-98 October 2, 1998 Disclosure Department Listing and Disclosure Department Philippine Stock Exchange, Inc. 4/F PSE Center, Exchange Road Ortigas Center, Pasig City Fax No. 6342051 Attention: Mr . Reynold P . Ong Vice-President Listing & Disclosure Group Gentlemen : We advise that Premiere Entertainment Productions, Inc. (the "Company") will be implementing a retrenchment program due to the unfavorable business conditions, in the movie industry in particular and the region in general, which have adversely affected and continue to affect the Company's operations and viability. The retrenchment program will be effected on a staggered basis to avoid compromising the Company's operations. Management has deemed it prudent to focus the Company's available resources in existing business areas which are more cost-efficient and profitable. LLphil Very truly yours, (SGD.) ANA MARIA A. KATIGBAK Assistant Corporate Secretary
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