PSE Circular for Brokers No. 2303-99
PSE Circular for Brokers No. 2303-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 15, 1999
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September 15, 1999 PSE CIRCULAR FOR BROKERS NO. 2303-99 September 14, 1999 PHILIPPINE STOCK EXCHANGE, INC . PSE Center, Exchange Road Pasig City Attention : Ms . Luisa W . Buenaventura Supervisor Disclosure Department Gentlemen: This is with reference to your inquiry about the news article captioned "PAGCOR refuses to reopen casino at Mimosa Estate" published in today's issue of the Business World. Mondragon is aware of the manifestation made by PAGCOR to the court as stated in the article appearing today in the Business World. This is, however, a repetition of PAGCOR's position which the Regional Trial Court of Angeles has rejected and in fact issued an injunction which enabled Mimosa to operate its casino from April 1998 until CDC closed the casino for rental arrears. This position was affirmed by the Court of Appeals. However, in its Compromise Agreement entered into with the Office of the President it was acknowledged that the casino could be reopened. This is Mondragon's position. Hope the foregoing meet your requirements prcd Very truly yours, (SGD.) PIERRE PAUL S. BUHAY Financial Comptroller
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