Equitable Banking Corporation
PSE Circular for Brokers No. 849-98 • Philippine Stock Exchange • Circulars for Brokers • Apr 28, 1998
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April 28, 1998 PSE CIRCULAR FOR BROKERS NO. 849-98 SUBJECT : Equitable Banking Corporation Equitable Banking Corporation ("EBC") informed the Exchange, through SEC Form 11-C, that EBC Group has signed on April 24, 1998 an agreement with the controlling stockholders of Mindanao Development Bank (MDB) setting forth the principal terms and conditions for the purchase by the EBC Group of approximately 90.6% of the total subscribed and outstanding capital stock of MDB. The results of the due diligence audit expected to be completed within sixty (60) days from the date of the agreement will determine the final purchase price of the MDB shares. Financial closing on the sale and. purchase of MDB shares will occur within fifteen (15) days from completion of the due diligence audit. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group
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