Philippines News Archives

Friday, July 07, 2000

AC ( 07/07/2000 : PSE )
Ayala Corporation ("AC") informed the Exchange, in a letter dated 6
July 2000, that the SEC approved o even date its Amended Articles of
Incorporation, particularly the amendment to Article VII, reflecting the
increase in its authorized capital stock from P17,000,000,000.00,
divided into 12,000,000,000 common shares with a par value of P1.00
per share, and 1,000,000,000 Preferred "A", 3,000,000,000 Preferred
"B", 1,000,000,000 Preferred "C" shares all of the par value of P1.00
each, to P26,000,000,000.00, divided into 15,000,000,000 common
shares with a par value of P1.00 per share, 400,000,000 Common "X"
shares with the par value of P10.00 each, and 1,000,000,000
Preferred "A", 3,000,000,000 Preferred A and 3,000,000,000
Preferred "B" shares, all of the par value of P1.00 each, approved by
the BOD and the stockholders on 29 February 2000 and 28 April 2000,
respectively. Furthermore, AC advised the Exchange that the SEC, in
its Order of even date, set 24 July 2000 as the record date of the 20%
stock dividend approved by the Board of Directors and the
stockholders on 29 February 2000 and 28 April 2000, respectively.
the stock dividend will be issued from the approved increase in capital
stock. Payment thereof will be effected fifteen (15) working days
from the record date. The Stock and Transfer Books of the Company
will be closed for the transfer of shares from 18 July to 24 July 2000.
The details of the said dividend are as follows:
STOCK DIVIDEND (UPDATE)
STOCK = 20%
EX-STOCK = July 18, 2000
RECORD DATE = July 24, 2000
DATE PAYABLE = August 14, 2000
- posted by StockMarket @ 11:41 PM

Wednesday, July 05, 2000

AC ( 07/05/2000 : PSE )
Ayala Corporation (AC) informed the Exchange that the record date of
the 17th quarterly cash dividend (PhP0.0125 per share) due on Ayala
Corporation's Convertible Preferred 'B' shares, will be on 21 July 2000
and payable on 28 July 2000.
CASH DIVIDEND (Convertible Preferred 'B')
CASH - PhP0.0125 per share
EX-CASH - 17 July 2000
RECORD DATE - 21 July 2000
DATE PAYABLE - 28 July 2000

- posted by StockMarket @ 11:40 PM

AC ( 07/05/2000 : AFX )
Ayala Corp shares were higher in late trade on rotational buying by local investors amid expectations that the company's financial performance this year will be bolstered by revenues from units Globe Telecom and Pure Foods Corp, dealers said. At 11:24 am, Ayala Corp rose 0.10, or 1.25 pct to 8.10 pesos on volume of 2.4 M shares. The composite index rose 0.18 points at 1,539.06. "It's mostly local buying although I see some foreigners selling the issue," Jose Ricardo Garcia, executive vice president at Diversified Securities Inc said. "The 8.20 peso level is a critical resistance for Ayala Corp. I think it's local buying although I have always liked Ayala Corp. I like the way they reinvented themselves to tackle the new economy," said Enrique Santa Ana, associate director for sales at Vickers Ballas Securities Philippines Inc. Santa Ana said although Ayala Corp's property business will unlikely perform well this year, its telecommunications and food subsidiaries offer good prospects. OCBC Securities Philippines Inc analyst Michelle Bumanlag said she predicts a 5.0 pct growth in net profit this year at best for Ayala Corp, driven by Globe Telecom and Pure Foods. Subsidiaries Ayala Land Inc and the Bank of the Philippine Islands which account for two-thirds of Ayala Corp's bottomline will, however, generate flat earnings growth for the year, Bumanlag added. G.K. Goh Securities (Philippines) Inc research head Ivy Cayayan said Globe will contribute at least 500 M pesos this year to Ayala Corp's earnings from a negative contribution last year. "However, prospects for property and banking subsidiaries are not good, possibly putting Ayala Corp earnings under pressure. I think the moves for convergence will benefit them in the future but not in the short term," Cayayan said. She said she will have to downgrade her original forecast of a 30 pct growth in net profit this year at 6.8 B pesos.
- posted by StockMarket @ 11:40 PM

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