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Wednesday, March 01, 2000
 
AC ( 03/01/2000 : PSE )
Please be advised that the Board of Directors of Ayala Corp.
approved this morning the following:
a. The declaration of a 20% stock dividend, the record date of which
will be fixed by the SEC in accordance with Sec. 5(d) of the SEC
Amended Rules dated 12 April 1991 and the payment thereof will be
effected fifteen (15) working days from receipt of the SEC Order
fixing the said record date. The stock dividend will be issued from the
proposed increase in authorized capital stock of the Corporation.
b. In order to create additional common shares to cover the 20% stock
dividend and new preferred shares for funding purposes, to amend
the resolution adopted by the stockholders on 23 April 1999 approving
the increase of the authorized capital stock of the Corporation from
Seventeen Billion Pesos (P17,000,000,000.00) to Twenty Billion Pesos
(P20,000,000,000.00), so that as amended, the increase in the
authorized capital stock of the Corporation shall be from Seventeen
Billion Pesos (P17,000,000,000.00) to twenty Six Billion Pesos
(P26,000,000,000.00). As amended, the increase will then consist of
(i) Three Billion (3,000,000,000) additional Common Shares with the
par value of One Peso (P1.00) or Three Billion Pesos
(P3,000,000,000.00); (ii) Three Billion (3,000,000,000) new Preferred
Shares with the par value of One Peso (P1.00) per share or Three
Billion Pesos (P3,000,000,000.00), and (iii) the Three Hundred Million
(300,000,000) Common X shares with the par value of Ten Pesos
(P10.00) per share or Three Billion Pesos (P3,000,000,000.00) which
is in addition to the One Hundred Million (100,000,000) new Common
X Shares that will be generated from the conversion of the existing
and unissued One Billion (1,000,000,000) Preferred "C" shares, both
of which have already been approved by the stockholders last year.
The details of the said cash dividend are as follows:
STOCK DIVIDEND:
STOCK = 20%
RECORD DATE = to be announced
- posted by StockMarket @ 11:09 PM

 
AC ( 03/01/2000 : AFX )
Ayala Corp said it will pay a stock dividend of 20 pct, with the record date to be fixed by the Securities and Exchange Commission. In a notice to the exchange, it said the settlement date for the dividend is yet to be set. The stock dividend will be issued from the proposed increase in the authorised capital of the company. In order to create additional common shares to cover the 20 pct stock dividend and new preferred shares for funding purposes, the company's board of directors approved the increase in the authorised capital to 26 B pesos from 17 B. The capital increase, to be presented to shareholders for approval, will consist of 3 B additional common shares with par value of 1 peso, 3 B new preferred shares with par value of 1 peso, and 300 M Common X shares with par value of 10 pesos per share.
- posted by StockMarket @ 11:09 PM


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