Petrofields Corporation
PSE Circular for Brokers No. 684-00 • Philippine Stock Exchange • Circulars for Brokers • Mar 16, 2000
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March 16, 2000 PSE CIRCULAR FOR BROKERS NO. 684-00 SUBJECT : Petrofields Corporation In reply to Exchange's query pertaining to House of Investment's infusion of P220 million in Petrofields Corporation (PET), as deposit for future subscription and the ratio of rights offering declared relative to its acquisition of Mapua Institute of Technology. PET, in its letter stated that: "1. Petrofields received the amount of P200 million from House of Investments ("HI") on 21 December 1999 which was paid to the Mapua Institute of Technology ("MIT") sellers on even date. The amount of P20 million was the share of HI in the Escrow Agreement which was released to the MIT sellers on 21 December 1999. HI will subscribe to P376 million worth of shares at P1.00 per share. 2. Per agreement with the Securities and Exchange Commission, the ratio of rights offering is 1:1 or 98.3 million : 98.3 million." For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings and Disclosure Group
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