PSE Circular for Brokers No. 2982-99

November 22, 1999 PSE CIRCULAR FOR BROKERS NO. 2982-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. November 19, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number 364 3. BIR Tax Identification No. 760-000-270-220 4. VICTORIAS MILLING COMPANY, INC. Exact name of registrant as specified in its charter 5. Philippines Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 9126 Sultana cor Honradez Sts., Brgy. Olympia Makati City Address of principal office Postal Code 8. (632) 896-0381 Registrant's telephone number, including area code 9. _____________________________________________ Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding _____________________________________________________ _____________________________________________________ _____________________________________________________ 11 Indicate the item numbers reported herein: SEC Form 11-C Item 2 (a) (1) Clarification or Explanation on the news item which appeared in the Business World issue of November 8 and 9, 1999 captioned "VMC shareholders fail to raise P567-M fresh equity" and "VMC looking for new investor to raise cash", respectively. cdll In respect of the Securities and Exchange Commission (SEC) Order of August 17, 1999 under SEC case No. 07-97-5693, approving the Rehabilitation Plan, the VMC Stockholders failed to subscribe to the entire 567,078,038 shares at P1.00 per share to raise the required P567 million fresh capital infusion through the exercise of their pre-emptive rights, as a result of which, the entire offered shares of 567,078,038 will be auctioned through bidding at a minimum price of P1.00 per share. The bidding schedule is yet to be announced by the Management Committee (MANCOM). SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. cdll VICTORIAS MILLING COMPANY, INC. Registrant (SGD.) ROMEO L. HERMOSO Chief Financial Officer