Philippines News Archives

Tuesday, May 02, 2000

AC ( 05/02/2000 : PSE )
Please be informed that at the Annual Stockholders meeting of Ayala
Corporation held this morning, the stockholders approved the
following matters, to wit:
1. The election of the following as members of the Baord of Directors:
Jaime Augusto de Ayala Ariston Estrada, Jr.
Jaime Augusto Zobel de Ayala II Minoru Makihara
Fernando Zobel de Ayala Naoyuki Nobe
Mercedita S. Nolledo
2. The declaration of a 20% stock dividend to all issued and
outstanding shares of the Corporation the record date of which will
be fixed by the SEC in accordance with Sec. 5(d) of the SEC
Amended rules dated April 12, 1991 and the payment thereof will be
effected fifteen working days from receipts 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.
3. Amendment of the stockholders resolution adopted on 23 April 1999
increasing the authorized capital stock, so that as amended, the
increase will be from P17 B to P26 B and thereby creating the
following additional shares
3.1 3 B Common shares with a par value of P1.00/share, and
3.2 3 B Preferred "AA" shares with a par value of P1.00/share
4. Amendments to the Amended Articles of Incorporation to reflect the
changes in Article Seventh thereof
At the Organizational Meeting of the Board of Directors held
thereafter, the following corporate officers were elected:
Jaime Augusto de Ayala = Chairman - Board & ExCom
Jaime Augusto Zobel de Ayala II = Vice Chairman - Board & ExCom &
PresidentFernando Zobel de Ayala = Vice Chairman - Board: Alt
Member - ExCom Executive Managing Director
Naoyuki Nobe = Director & Regular Member-ExCom
Mitsutake Okano = Director & Alt Member - ExCom
Ariston Estrada, Jr. = Director (Adviser to the Chairman)
Delfin L. Lazaro = Consultant

- posted by StockMarket @ 11:24 PM

AC ( 05/02/2000 : PSE )
This is with reference to the news article entitled 'Ayala expansion proceeds despite profit drop" published in the April 29, 2000 issue of the Philippine Daily Inquirer. The article reported that Ayala Corporation ("AC") said its preliminary first-quarter profit fell 25 percent because of higher financing charges stemming from acquisitions by its phone and bank units. AC said it earned P1.4 B in preliminary profit from January to March, compared with P1.88 B in the same period last year.In its letter, AC clarified that: "x x x our company is still in the process of consolidating the first quarter results. The profit numbers reported by Bloomberg in an article which appeared on Philippine Daily Inquirer on April 29, 2000 are preliminary estimates. The company will be able to report to the PSE the final results of Ayala's performance as of end-March 2000 once the consolidation process is completed. x x x"
- posted by StockMarket @ 11:23 PM

AC ( 05/02/2000 : PSE )
Please be informed that iAyala Company, Inc., a wholly-owned subsidiary of Ayala Corporation (AC), signed an agreement on 28 April 2000 with Yahoo! Asia to provide a range of WAP services to Globe Telecom subscribers. WAP or Wireless Application Protocol is a computer language that allows individuals to access the Internet through their mobile. Through this agreement Globe Handyphone subscribers with WAP-capable phones will have access to the services of Yahoo! News, Yahoo! Mail, and My Yahoo!, a customizable, Web-based service that allows users to select and aggregate information such as news, stock quotes, weather updates and more- all in one centralized location. Globe customers who access Yahoo!’s services through their Globe Handyphones will only be charged Globe’s standard airtime tariffs for WAP services. This agreement with Yahoo! Asia augments iAyala’s recent initiatives in developing innovative wireless applications and services through its wholly-owned subsidiary, Wireless Internet Solutions, Inc.
- posted by StockMarket @ 11:23 PM

AC ( 05/02/2000 : AFX )
Ayala Corp shares were lower in midmorning trade after the company released lower preliminary first quarter results, dealers said. They said the outlook for 2000, however, is expected to be better than in 1999 considering the strong performance of its telecommunications unit and the launch of some of its real estate projects. At 10:17 am, Ayala Corp was down 0.20 peso or 2.13 pct at 9.20 on 875,000 shares. The composite index was up 5.90 points at 1,604.63 on 948.5 M shares worth 323.8 M pesos. I.B. Gimenez Securities Inc portfolio manager Cesar Tanquingcen said the initial pressure on Ayala Corp may be attributed to its lower first quarter net profit. Ayala Corp said its preliminary first quarter net profit fell to 1.4 B pesos from 1.88 B a year earlier. "I think it's basically the earnings (data) which is pulling down Ayala Corp. There's a big discrepancy between the share prices of Ayala Corp and Ayala Land, so people are drawn to Ayala Land, which is cheaper," Tanquingcen said. "For the rest of the year, Ayala Corp's earnings outlook will be different, given its move into the e-commerce and the strong performance of Globe Telecom," he said, adding that the company is also to derive earnings support from its real estate projects. Ayala Land recently launched a high-end residential project Ayala Greenfield Estate. Ayala Land was up 0.10 peso or 1.54 pct at 6.60 on 1.75 M shares, while Globe was unchanged at 15.0 on 100,000 shares. At 10:51 am, Ayala Corp was down 0.20 at 9.20 pesos on 1.2 M shares. Ayala Land was unchanged at 6.50 pesos on 2.7 M shares, while Globe Telecom was down 0.25 at 14.75 on 952,400 shares. The composite index was up 0.20 at 1,598.93 points on 1.86 B shares worth 525.19 M pesos. Mark Securities Corp chief strategist Manny Cruz said aside from indications of weaker first quarter earnings performance, Ayala Corp was down on technical factors. "It forms a triple top at 9.50 pesos. It's a bearish formation," Cruz said. He said the stock's failure to break the 9.50 pesos major resistance triggered its losses. "The outlook for the company's business is still rosy given the right momentum in its ... Internet venture," he said. iAyala Co Inc has signed an agreement with Yahoo Asia to provide a range of wireless application protocol (WAP) services to enable Globe Telecom subscribers access the Internet through their mobile phone.
- posted by StockMarket @ 11:22 PM

AC ( 05/02/2000 : AFX )
Ayala Corp said it will create 3 B common shares and 3 B preferred "AA" shares with a par value of 1.0 peso apiece after its shareholders approved an increase in its authorised capital stock. Its capital stock will be raised to 26.0 B pesos from 17.0 B, the company said.
- posted by StockMarket @ 11:20 PM

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