Philippines News Archives

Saturday, May 08, 1999

AC ( 05/08/1999 : PSE )
Ayala Corporation would like to inform the Exchange that the record date of the 12th quarterly cash dividend (P0.0125 per share) due on Ayala Corporation's Convertible Preferred "B" shares, will be on 22 April 1999 and payable on 30 April 1999.
CASH DIVIDEND (PREFERRED "B")
Cash = P0.0125 per share
Ex-cash = April 16, 1999
Record date = April 22, 1999
Date payable = April 30, 1999

- posted by StockMarket @ 3:12 PM

Tuesday, May 04, 1999

AC ( 05/04/1999 : PSE )
Please be informed that the Board of Directors of Ayala Corporation ("AC"), in its special meeting held on May 3, 1999, approved the offering of up to 200 M Common X shares and the filing of the required registration with the Securities and Exchange Commission (SEC) and application with the Philippine Stock Exchange (PSE). The final pricing, terms and conditions of the offering will be determined by the Board at a later date prior to actual offering. The SEC registration and PSE filing are necessary steps in a long process that the company is putting into place to enable to it to sell the shares when investment opportunities are identified and markets favorable.
- posted by StockMarket @ 3:12 PM

AC ( 05/04/1999 : PSE )
Ayala Corp said it plans to secure the approval of the Securities and Exchange Commission to offer up to 200 M common X shares. In a statement, Ayala said it will shortly file with the SEC the required registration documents on the terms of the offer. The SEC registration will enable the company to sell the shares "when investment opportunities are identified and markets are favourable," it said. Earlier, Ayala said the X shares, with a par value 10 times that of common shares, will give it the flexibility to raise additional equity from international investors.
- posted by StockMarket @ 3:11 PM

AC ( 05/04/1999 : BW )
Listed conglomerate Ayala Corp. bought an indirect stake in Isla Communications Co., Inc. for $14 M. This move is seen to lead to a merger between Islacom and Ayala's subsidiary Globe Telecom GMCR, Inc. The two firms agreed over the weekend to seriously start merger talks involving the two companies' mobile and fixed line telecommunications services. In a disclosure to the PSE, Globe's parent Ayala Corp. said discussions for the possible merger will be done in two phases including the acquisition of shares in Islacom as well as the due diligence of both companies' books. The Delgado family owns 60% of Islacom through Asia Communications Phils., Inc. (AsiaCom) and Citadel Holdings, Inc. Islacom, in a press statement, confirmed Ayala's purchase of all Islacom shares held by Citadel through the Ayalas' 100% owned subsidiary Filnet Holdings, Inc. Filnet bought the indirect shares in Islacom through the acquisition of 75% ownership in Visay-Tech, Inc. from Citadel for $14 M. Visay-Tech owns the controlling interest in Islacom through its holdings in AsiaCom. With the purchase, Ayala Corp. managing director Renato O. Marzan said Filnet will become the local partner of Deutsche Telekom AG in Islacom. Deutsche Telekom presently holds minority interest in Islacom. The two telecom firms also agreed they will be conducting due diligence and valuation exercises of each other's books to determine the ownership structure of their combined operations. "A potential Globe-Islacom combination would result in an even stronger and dominant digital wireless service provider using the GSM technology. The opportunity for the Globe-Islacom combination is supported by Singapore Telecom International, a major shareholder of Globe," Mr. Marzan said. He said the tie-up would give both companies the opportunity to expand their cellular and fixed line networks. With the possible merger, the two firms' combined subscribers are expected to reach more than 750,000 subscribers.
- posted by StockMarket @ 3:11 PM

AC ( 05/04/1999 : AFX )
Ayala Corp said it plans to secure the approval of the Securities and Exchange Commission to offer up to 200 M common X shares. In a statement, Ayala said it will shortly file with the SEC the required registration documents on the terms of the offer. The SEC registration will enable the company to sell the shares "when investment opportunities are identified and markets are favourable," it said. Earlier, Ayala said the X shares, with a par value 10 times that of common shares, will give it the flexibility to raise additional equity from international investors.
- posted by StockMarket @ 3:10 PM

Monday, May 03, 1999

AC ( 05/03/1999 : PSE )
Please be informed that Ayala Corporation has agreed over the week end to explore a potential combination of its local telecommunications Company, Globe Telecom, Inc. ("Globe") with Isla Communication Co., Inc. ("Islacom") an affiliate of Deutsche Telekom AG, towards establishing a leading provider of mobile and fixed line telecommunications services in the Philippines. The exploratory discussions will be in two phases, with the first step involving an Ayala Corporation subsidiary to be the local partner of Deutsche Telekom AG in Islacom. Filnet Holdings. Inc., a 100% owned subsidiary of Ayala has purchased a 75% ownership in Visay-Tech, Inc. from Citadel Holdings, Inc. for $14 M Visay-Tech, in turn, has controlling interest in Islacom through its holdings in AsiaCom, Philippines, Inc. In the second phase of the process, the parties agreed that a full due diligence and valuation exercise would be undertaken of both companies prior to the potential merger or combination, before finalizing the ultimate ownership structure of the combined operations. A potential Globe-Islacom combination would result in an even stronger and dominant digital wireless service provider using the GSM technology. The opportunity for the Globe-Islacom combination is supported by Singapore Telecom International, a major shareholder of Globe. With the combined strengths of the major shareholders, the combination would be well positioned to pursue aggressive expansion plans in strengthening its cellular and fixed line networks. With Globe's 500,000 customers, the combined subscriber would surpass 750,000, consisting of 450,000 cellular subscribers and more than 300,000 fixed line customers. The new combination would also have more than 600 GSM cell sites nationwide.
- posted by StockMarket @ 3:10 PM

Philippines News Archives Home

Philippine Jobs .ph

Summary of Job Openings

Career Articles & Resources Index

Investing in the Philippine Stock Market

Philippine Sites

Jobs in Canada