PSE Circular for Brokers No. 778-99
PSE Circular for Brokers No. 778-99 • Philippine Stock Exchange • Circulars for Brokers • Apr 16, 1999
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April 16, 1999 PSE CIRCULAR FOR BROKERS NO. 778-99 Philippine Stock Exchange PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Listing Department Listing & Disclosure Group Dear Sir : We refer to your fax letter requesting us to clarify the news article entitled "Creditor banks OK Piltel rehab" published in the April 16, 1999 issue of Philippine Daily Inquirer. The article reports that creditor banks approved in principle a rehabilitation plan for ailing Pilipino Telephone Corporation ("Piltel"). We wish to inform the Exchange that the company is in continuing negotiations with its creditor-banks regarding the rehabilitation plan for Piltel. While the negotiations continue to progress, we have not yet received any official confirmation, written or verbal, from the creditor banks of their acceptance of Piltel's proposals. Rest assured that we will keep the Exchange informed of any significant developments regarding this matter. Very truly yours, (SGD.) MARIA LOURDES RAUSA-CHAN Corporate Secretary
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