PSE Circular for Brokers No. 2447-98
PSE Circular for Brokers No. 2447-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 28, 1998
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October 28, 1998 PSE CIRCULAR FOR BROKERS NO. 2447-98 October 27, 1998 Philippine Stock Exchange PSE Center, Exchange Road, Ortigas Center, Pasig City Attention: Disclosure Department Listing and Disclosure Group Gentlemen : We advise that during the meeting of the Board of Directors of our Company on October 27, 1998, the Board unanimously agreed to set aside the following resolutions it adopted on September 3, 1998: 1. Adoption of a Stockholders Rights Plan; and 2. Amendment of the By-law of the Company for nominations to the Board of Directors during stockholders meeting. In setting aside the September 3, 1998 resolutions, the Board took into consideration observations regarding the need to achieve a balance between the free play of market forces, the protection of the interests of minority shareholders, and to remove other concerns raised in connection with the Stockholders Rights Plan. Cdphil Thank you for your kind attention. Very truly yours, (SGD.) ENRIQUE D. PEREZ Secretary
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