PSE Circular for Brokers No. 956-99
PSE Circular for Brokers No. 956-99 • Philippine Stock Exchange • Circulars for Brokers • May 3, 1999
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May 3, 1999 PSE CIRCULAR FOR BROKERS NO. 956-99 April 30, 1999 Philippine Stock Exchange Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center Exchange Road Ortigas Center, Pasig City Attention: Mr . Reynold P . Ong Vice President Listings & Disclosure Group Gentlemen : In accordance with your requirements, we would advise the Exchange that Metro Pacific Corporation has agreed to accept a subscription for 200 million new shares at a price of approximately Pesos 2.04 per share. To allow for the shares to be available at the earliest opportunity, Metro Pacific Holdings, Inc. ("MPHI") one of MPC's largest shareholders, has agreed to effect a block sale at this price to the investor on 3 May 1999. MPC will, therefore receive the subscription from MPHI instead of directly from the investor. MPC has received considerable interest in its stock in view of its opportunities in the property sector. The funds form the subscription of Pesos 408 million will be used to further strengthen and reinforce MPC's balance sheet, primarily through the reduction of debt and for working capital purposes. A formal submission on SEC Form 11-C will also be made regarding this announcement. aisadc Very truly yours, (SGD.) IAN CHRISTOPHER WILSON Director
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