PSE Circular for Brokers No. 2780-99
PSE Circular for Brokers No. 2780-99 • Philippine Stock Exchange • Circulars for Brokers • Oct 29, 1999
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October 29, 1999 PSE CIRCULAR FOR BROKERS NO. 2780-99 October 28, 1999 PHILIPPINE STOCK EXCHANGE, INC . Listing and Disclosure Group 4/F PSE Center Exchange Road Ortigas Center, Pasig City Attention: Ms . Grace de Guia Assistant Manager Gentlemen: We are pleased to inform that at meeting of the Board of Directors, it had been resolved to implement the spin off of the pulp and paper division as a separate company from PRI. The spin of is being made after several breakthroughs were achieved in the production process wherein PICOPs linerboard is now comparative if not better than imported linerboard in strength qualities required for box manufacture. As a separate operating company, the pulp and paper division will be more in a position to compete in the local and foreign markets. Very truly yours, (SGD.) EMMANUEL A. RAPADAS Chief Financial Officer
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