PSE Circular for Brokers No. 828-99
PSE Circular for Brokers No. 828-99 • Philippine Stock Exchange • Circulars for Brokers • Apr 21, 1999
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April 21, 1999 PSE CIRCULAR FOR BROKERS NO. 828-99 PHILIPPINE STOCK EXCHANGE, INC . Disclosure Department LISTING AND DISCLOSURE GROUP 4/F PSE Center Exchange Road Ortigas Center, Pasig City Attention: Ms . Janet J . Alcala Analyst M a d a m : This refers to you fixed letter dated April 16, 1999 requesting for clarification on a news article which appeared in the Manila Times dated April 16, 1999 regarding the purported acquisition of TA Savings Bank by Urban Bank. Please be advised that Urban Bank has maintained an open mind for banks interested in merging with or being acquired by Urban Bank and talks with these banks, if any, are purely exploratory at this time, and that there are no concrete negotiations being undertaken at the moment. LLjur We wish to point out that while increasing the branch network has been one of the Bank's corporate goals, considering the refocusing of the Bank's goals to our Virtual Banking Project and Home Mortgage Securitization, the Bank can effectively extend its geographical reach without increases branch network, and at the same time, expand prudently but effectively the Banks balance sheet portfolio. Rest assured that we will advise you immediately of merger or acquisition plans which may be approved by the Board of Directors of the Bank. We trust that we have sufficiently clarified this matter Very truly yours, (SGD.) JUSTINA F. CALLANGAN Assistant Corporate Secretary
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