PSE Circular for Brokers No. 2601-99
PSE Circular for Brokers No. 2601-99 • Philippine Stock Exchange • Circulars for Brokers • Oct 12, 1999
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October 12, 1999 PSE CIRCULAR FOR BROKERS NO. 2601-99 October 11, 1999 PHILIPPINE STOCK EXCHANGE, INC . 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center, Pasig City Attention: Ms . Grace De Guia Assistant Manager - Corporate Disclosure Dept . Dear Ms. De Guia: This is to inform you of what transpired at the Special Board of Directors' Meeting of Cityland Development Corporation held today. Cityland Development Corporation will offer to the public its 45, 500,000 unclassified common shares i City & Land Developers, Inc. with a par value of P1.00 at an offer price ranging from Php 3.90 to Php 6.50 Price earnings multiple in 6x - 10x of forecasted earnings per share of Php .65 of CLDI in 1999. Offering period will be determined upon approval of CLDI's application of listing and trading of its shares in the First Board of Philippine Stock Exchange. For your information. Very truly yours, (SGD.) EDELINE G. RAMOS Corporate Secretary
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