PSE Circular for Brokers No. 2406-98

October 20, 1998 PSE CIRCULAR FOR BROKERS NO. 2406-98 October 19, 1998 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. October 19, 1998 Date of Report (Date of earliest event reported) 2. SEC identification Number 17514 3. BIR TIN 320-000-599-760 4. RIZAL COMMERCIAL BANKING CORPORATION Exact name of registrant as specified in its charter 5. Philippines Province, country or other jurisdiction of incorporation 6. (Sec Use only) Industry Classification Code 7. 333 Sen. Gil J. Puyat Ave., Makati City 0/27 Address of principal office Postal Code 8. 894-9000 Registrant's telephone number, including area code 9. Not Applicable 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 Shares of Common Stock Outstanding and Amt. of Debt O/S Common Stock, P10.00 par value 432,964,018 (as of 10/19/98) 11. Indicate the item numbers reported herein: Item 9 Item 9. Other Events 1. Majority of RCBC Stockholders have approved the (a) issuance of P2.0 Billion worth of non-convertible, non participating and non-voting preferred shares through the reclassification of 120,000,000 and 80,000,000 unissued common class "A" and "B" shares, respectively, into 200,000,000 preferred shares with a par value of P10.00 per share, redeemable five years from date of issue and to be issued in four series at 50,000,000 shares for each series, and (b) corresponding amendment of Article Seventh of the Bank's Articles of Incorporation to allow the issuance of said preferred shares, subject to final approval by the Bangko Sentral ng Pilipinas. 2. RCBC Board of Directors has declared a cash dividend of P0.30 per share, 50% payable on the last quarter of 1998 and another 50% on the first quarter of 1999, subject to BSP approval. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CASH DIVIDEND (SUBJECT TO BSP APPROVAL) CASH P0.30 PER SHARE RECORD DATE TO BE ANNOUNCED RIZAL COMMERCIAL BANKING CORP. Registrant (SGD.) MERLYN E. DUEAS Vice-President Head-Legal Department