PSE Circular for Brokers No. 959-99
PSE Circular for Brokers No. 959-99 • Philippine Stock Exchange • Circulars for Brokers • May 3, 1999
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May 3, 1999 PSE CIRCULAR FOR BROKERS NO. 959-99 April 30, 1999 PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Center Ortigas Center, Pasig City Attention: Mr . Reynaldo P . Ong VP - Listings and Disclosures Group Atty . Ruben L . Almadro VP Compliance and Surveillance Group Gentlemen : Please be informed that at the Annual Meeting of the Stockholders of Cebu Property Ventures and Development Corporation (the "Corporation") held today, the following were elected members of the Board of Directors for 1999 2000: = FRANCISCO H. LICUANAN III REX C. DRILON II SENEN L MATOTO ARMANDO O. SAMIA RUBEN L ALMENDRAS MARIANO R. MARTINEZ FRANCISCO C. JAPSON The stockholders also ratified the decrease in the authorized capital stock of the Corporation from P1,000,000,000 common shares to P940,350,000 common shares to be effected through the retirement in treasury shares of P59,650,000. Article Seventh of the Corporation's Articles of Incorporation shall now read as follows: SEVENTH: The Capital Stock of the Corporation is NINE HUNDRED FORTY MILLION THREE HUNDRED FIFTY THOUSAND PESOS (P940,350,000), Philippine Currency, and said capital stock is divided into (i) FIVE HUNDRED SIXTY FOUR MILLION TWO HUNDRED TEN THOUSAND (564,210,000) shares of Class A Common Stock of the par value of ONE PESO (P1.00) each, and (ii) THREE HUNDRED SEVENTY SIX MILLION ONE HUNDRED FORTY THOUSAND (376,140,000) shares of Class B Common Stock of the par value of ONE PESO(P1.00) each. xxx xxx xxx Please be guided accordingly. Very truly yours, (SGD.) MA. CYNTHIA H. POBLADOR Corporate Information Officer
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