Petrofields Corporation
PSE Circular for Brokers No. 2453-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 29, 1999
Full text
September 29, 1999 PSE CIRCULAR FOR BROKERS NO. 2453-99 SUBJECT : Petrofields Corporation Petrofields Corporation ("PET") informed the Exchange that the company together with its wholly-owned subsidiary, PetroEnergy Resources Corporation ("PetroEnergy"), have entered into an Escrow Agreement with Rizal Commercial Banking Corporation ("RCB") on 10 September 1999. Under the said agreement, RCB shall hold in escrow all outstanding common shares of PetroEnergy which will be released upon instruction of PET and after full compliance of the redemption procedures. PET redeemable preferred shares shall be redeemed with the issuance of common shares of its wholly-owned subsidiary PetroEnergy at one-to-one (1:1) ratio. cdll A copy of the abovementioned Escrow Agreement is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO
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