PSE Circular for Brokers No. 808-98
PSE Circular for Brokers No. 808-98 • Philippine Stock Exchange • Circulars for Brokers • Apr 27, 1998
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April 27, 1998 PSE CIRCULAR FOR BROKERS NO. 808-98 April 24, 1998 PHILIPPINE STOCK EXCHANGE, INC. Phil. Stock Exchange Centre Exchange Road, Ortigas Center Pasig City, Philippines Attention: Ms . Isabel Garcia Gentlemen : Please be advised that the Board of Directors of KEPPEL PHILIPPINES HOLDINGS, INC ., (KPH) has approved in principle its Participation in the corporate restructuring of the Keppel Philippines Group of Companies. LLpr KPH's participation in the said restructuring will involve the offering to the minority shareholders of Cebu Shipyard & Engineering Works, Inc. (CSEW) who opts to stay in the shipbuilding and shiprepair business, the exchange of KPH's equity investments in KSI for its minority shareholdings in CSEW. Also part of the corporate restructuring is KPH's exchange of its shareholdings in SM Keppel Land and transfer of account Shareholders Advances to SM Keppel Land to CSEW in exchange for CSEW's shares of stock in KSI. The details will be discussed in a Board meeting prior to the stockholders' meeting scheduled on 23 May 1998. Very truly yours, (SGD.) CHEE FOOK MENG Treasurer/VP (Administration)
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