Ayala Land, Inc.
PSE Circular for Brokers No. 2572-98 • Philippine Stock Exchange • Circulars for Brokers • Nov 12, 1998
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November 12, 1998 PSE CIRCULAR FOR BROKERS NO. 2572-98 SUBJECT : Ayala Land, Inc . Ayala Land, Inc. ("ALI") clarified to the Exchange a news article published in the November 11, 1998 issue of the Philippine Daily Inquirer which reported that the company will reopen talks and renegotiate with C&P Homes, Inc. ("CMP") for a possible strategic alliance but will no longer involve a share-swap agreement which was the subject of the failed previous negotiations. ALI, in a letter to the Exchange, explained that: ". . . In our September 2, 1998 disclosure, we made known that Ayala Land 'remain(s) committed to pursue future opportunities for business partnership and cooperation with C&P, particularly in C&P's core business of low-cost housing and socialized housing.' In the same letter, we have advised the public that 'discussions are currently and actively ongoing to define the items under which such partnership might the undertaken.' . . ." LexLib For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO
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