PSE Circular for Brokers No. 2609-98
PSE Circular for Brokers No. 2609-98 • Philippine Stock Exchange • Circulars for Brokers • Nov 18, 1998
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November 18, 1998 PSE CIRCULAR FOR BROKERS NO. 2609-98 November 18, 1998 MS . LUISA BUENAVENTURA Supervisor, Disclosure Dept. Philippine Stock Exchange, Inc. FAX No. 637-8811 Dear Ms. Buenaventura: Responding to your request for clarification on the newspaper articles that came out this morning regarding the CDC's demand for payment and the threat to close the Mimosa Leisure Estate: The issues indicated in the news release are exactly the points under negotiation between CDC and Mondragon in the past. The termination threat is contrary to the dispute resolution provisions of the lease agreement between CDC and Mondragon under Section 1 of Article XI of the agreement. LLpr We continue to have high level negotiations with CDC in trying to resolve these issues and will notify the Exchange as new developments arise. We are very optimistic that these issues will be resolved very soon. Very truly yours, (SGD.) FAUSTINO S. ROBERTO EVP and CFO
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