PSE Circular for Brokers No. 2984-99
PSE Circular for Brokers No. 2984-99 • Philippine Stock Exchange • Circulars for Brokers • Nov 22, 1999
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November 22, 1999 PSE CIRCULAR FOR BROKERS NO. 2984-99 MS. LUISA W. BUENAVENTURA Supervisor, Disclosure Department Listings and Disclosure Group Philippine Stock Exchange 4th Flr., Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Fax No. 636-0809 Dear Ms. Buenaventura: This refers to the news article captioned "PNB eyes 50% of Tan Yu's bank" published in today's issue of the Business World. Please be informed that as part of the Bank's continuing efforts to comply with the BSP's mandate for the banking industry to consolidate, we have initiated some studies on some institutions, one of which is Tan Yu's Panasia Bank, as possible alternatives for a merger or acquisition. However, we are nowhere near any affirmative decision yet on any of these alternatives. Thank you. Very truly yours, (SGD.) RODERICK R.C. SALAZAR III Corporate Secretary
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