Primetown Property Group, Inc.
PSE Circular for Brokers No. 545-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 30, 1998
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March 30, 1998 PSE CIRCULAR FOR BROKERS NO. 545-98 SUBJECT : Primetown Property Group, Inc . Primetown Property Group, Inc. ("PMT") clarified to the Exchange, in a letter dated March 27, 1998, two news articles published in the March 25, 1998 issues of the Philippine Star and the Manila Times, which reported of PMT's negotiations with a consortium of commercial banks and financial institutions for the possible "dacion en pago" of one of its prime real estate holdings in Fort Bonifacio. llcd PMT, in its letter, said that it has released an official statement through its spokesman, Allen P. Mojica of A.P. Mojica and Associates, which stated that: "Primetown wishes to clarify that there are no on-going negotiations with its creditors or banks for a dacion on its property in Fort Bonifacio." The statement was sent to support Urban Bank's denial of said transaction. According to PMT, Urban Bank Chairman Arsenio Bartolome, apparently referred to as the source, was misquoted by the reporters. In a news release dated March 24, 1998, Urban Bank strongly denied that it is holding talks with PMT regarding a "dacion en pago" of the latter's Fort Bonifacio property. A copy of the said news release was furnished the Exchange by PMT on March 27, 1998. cdpr For your information. (SGD.) MA. ISABEL T. GARCIA Head, Listing and Disclosures Group
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