Philippine National Bank
PSE Circular for Brokers No. 2469-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 30, 1999
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September 30, 1999 PSE CIRCULAR FOR BROKERS NO. 2469-99 SUBJECT : Philippine National Bank This is with reference to a news article published in the September 30, 1999 issue of the Business World which reported that Lucio Tan acquired three board seats in Philippine National Bank ("PNB") during the two-week stock rights offering that ended September 17, 1999. PNB, in a letter to the Exchange, clarified that: ". . . We are unaware of the basis of the source quoted in such news article. We maintain that the present members of the Board of Directors continue to act as such until their successors shall have been duly elected and qualified. . . . Besides, considering the huge success of the stock rights offering and the number of subscribers thereto, the list has to be verified and its accuracy ensured" For your information. cdll (SGD.) JOSE LUIS U. YULO, JR. President and CEO
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