Petition for Price Increase of Securities Covering 1,720 Fixed Value Education Plans (Powered Plans) Worth P276,000,000.00
SEC-NTD (Order) • Securities and Exchange Commission Departments • Non-Traditional Securities and Instruments Department (NTD) • Jun 6, 2008
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June 6, 2008 NON-TRADITIONAL SECURITIES AND INSTRUMENTS DEPARTMENT IN THE MATTER OF PRUDENTIALIFE PLANS, INC., registrant . PETITION FOR PRICE INCREASE OF SECURITIES COVERING 1,720 FIXED VALUE EDUCATION PLANS (POWERED PLANS) WORTH P276,000,000.00 O R D E R Upon consideration of the petition and its papers and documents attached thereto filed on May 28, 2008 for and on behalf of PRUDENTIALIFE PLANS, INC., the Commission pursuant to SEC Memorandum Circular No. 1 Series of 2007 re: Guidelines on the Expeditious Approvals of Matters Concerning Pre-Need Plans, rendered effective the petition for price increase of securities covering 1,720 Fixed Value Education Plans (PowerED Plans) worth Two Hundred Seventy Six Million Pesos (P276,000,000.00) of said corporation subject to the prescribed terms and conditions of the permit. TcDHSI Details on the pricing of Fixed Value Education Plan (PowerED Plans) by terms and mode of payment are: 1upsec08 Band 1-Initial Educational Band 2-Initial Educational Benefits benefit is less than P60,000.00 is equal to or more than P60,000.00 Payment Term Current Proposed Current Proposed Min. 1 Max. 2 Min. 1 Max. 2 Min. 1 Max. 2 Min. 1 Max. 2 One Year 1,745 20,773 3,509 31,478 1,563 20,220 2,838 29,728 Two Year 1,828 21,416 3,526 31,636 1,610 20,846 2,852 29,878 Three Year 1,950 22,077 3,543 31,794 1,662 21,489 2,865 30,027 Four Year 2,044 22,760 3,564 31,956 1,712 22,156 2,880 30,180 Five Year 2,190 23,465 3,580 32,115 1,765 22,840 2,896 30,330 However, the issuance thereof is only permissive and does not constitute a recommendation or endorsement of the securities permitted to be offered for sale. It shall be unlawful to make or cause to be made to any prospective purchaser any representation contrary to the foregoing. HAICcD Let this Order be published at the expense of the corporation once in a newspaper of general circulation in the Philippines within ten (10) days from its promulgation. The corporation is hereby directed to submit to the Commission an affidavit to this effect within five (5) days from such publication. DCASIT SO ORDERED. EDSA, Mandaluyong City, Philippines. June 6, 2008. (SGD.) JOSE P. AQUINO Acting Director Published in The Manila Times on June 12, 2008.
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