AC ( 08/31/2000 : PSE )
Please be informed that iAyala Company, Inc., Ayala Corporation's
subsidiary focused on Internet-related business, and global payments
leader MasterCard International signed yesterday, 29 August 2000, a
memorandum of understanding (MOU) to provide Filipino consumers
with a fully-integrated e-commerce payments solution, through the
use of MasterCard's payment products. The tie-up will allow
MasterCard Philippines' member financial institutions to offer the
widest range of payment solutions to their customers who wish to
transact online. Under the terms of the MOU, a new electronic
commerce payment service will be available to cardholders in the
Philippines who use MasterCard for online transactions. "MasterCard
EC-Solution Philippines" will significantly benefit both Philippine
consumers and merchants:
* Through "MasterCard EC-Solution Philippines", cardholders are
authenticated prior to completing an online purchase, assuring
consumers that only valid transactions will be carried out.
* For merchants, the solution provides a protection against fraudulent
transactions.
"MasterCard EC-Solution Philippines" specifically addresses the issue
of authentication and provides both consumers and merchants an
easier, safer and more convenient means to transact online.
"MasterCard EC-Solution Philippines" will be completed with the iAyala
electronic commerce infrastructure, composing a Server POS, server
wallet, various payment gateways and payment adapters, and
merchant registration/management module. The iAyala system links
merchants, credit card and ATM cardholders with banks to provide a
secure system. Local merchants doing business on the Internet
currently find it difficult to acknowledge and authenticate credit card
users, thus hindering the growth of the merchants' Internet-based
businesses.
AC ( 08/29/2000 : BW )
Conglomerate Ayala Corp. (AC) will raise up to 2.5 B Philippine pesos ($55.53 M at PhP45.020=$1) through a private placement next month to raise cash for working capital as well as to refinance long-term debts. Ayala Corp. managing director and assistant treasurer Ramon G. Opulencia said the company will issue five-year redeemable preferred AA shares worth up to PhP2.5 B. Some 500 M shares, with par value of PhP1 per share, will be issued at PhP5 per share. Mr. Opulencia told BusinessWorld the proceeds of the private placement will be used to finance working capital requirements of Ayala's telecommunications and information technology (IT) businesses. "It (proceeds from the placement) will be used for our working capital, for future opportunities and investments. Right now our focus is on major growth areas such as telecommunications and technology and financial services. A portion of that will be utilized to refinance some maturing obligations due 2001," he said.
AC ( 08/28/2000 : PSE )
Please be informed that the Executive Committee of Ayala Corporation,
in the exercise of its powers set forth under the By-Laws of the
Corporation, approved today the issuance of redeemable preferred
"AA" shares of up to P2.5 B worth. The salient features of the issue
are as follows:
Instrument : Redeemable Preferred "AA" shares
Issue Amount : Up to P2.5 B
No. of Shares : Up to 500 M shares
Par Value : P1.00 per share
Issue Price : P5.00 per share
Issue Date : September 2000
Term : Up to five (5) years
Dividend Rate : Floating rate, determined quarterly, equivalent to 80%
of the Applicable Base Rate, or in certain circumstances, the
Alternative Base Rate, plus spread of 1.5% p.a. The Applicable Base
Rate shall be the latest weighted average auction results for the 91
day T-Bills immediately preceding or on the Dividend Rate Setting Date.
Mandatory Redemption : Redeemable in full via a payment in cash of
100% of Issue Price at the end of the fifth (5th) year from Issue Date.
Sinking Fund: The Issuer shall no earlier that 360 days prior to the
redemption date open and maintain a trust account with a trustee bank
and deposit, in cash, an amount equivalent to three percent of the
aggregate Issue Price of the shares outstanding, as and by way of
the sinking fund, as required under the rules and regulations of the
SEC. The trust account shall, be subject to review by the Issuer every
thirty (30) days and the Issuer shall infuse additional funds under
such review.
Manner of offering : The Preferred Shareholders shall be given
preference over holders of common stock in the 1) distribution of
corporate assets in the event of liquidation, dissolution or winding up
of the Issuer, and 2) distribution of dividends.
Cumulative as to Dividends : The Preferred Shareholders shall be
entitled to payment of current dividends as well as any unpaid bank
dividends on the shares (subject to penalty interest) before any
dividends can be declared and paid on the common stock.
Non-Convertible : The Preferred Shares shall not be convertible into
common shares.
AC ( 08/28/2000 : PSE )
Non-Participating : The Preferred Shareholders shall not be entitled to
receive any other or further dividends or earnings of any kind
whatsoever, beyond the dividends specifically payable on the
Preferred Shares.
Non-Voting : The Preferred Shareholders shall have no right to vote at
any regular or special meeting except in those cases specifically
provided by law.
No Preemptive Rights : The Preferred Shareholders shall have no
preemptive right to subscribe to any new shares.
AC ( 08/28/2000 : PSE )
Ayala Corporation (AC) informed the Exchange that the Company together with the other founding partners, namely: Aboitiz Equity Ventures, Benpres Holdings Corporation, JG Summit Holdings, Philippine Long Distance Telephone Co. and United Laboratories, have signed on 24 August 2000 the Joint Venture Agreement (JVA) to establish BayanTreade.com as the premier Philippine site for business to business (B2B) electronic commerce. The JVA includes the following key sections: installation of best-practice governance systems to ensure empowerment of BayanTrade.com's management, agreements to migrate the procurement volumes of the founding partners online for marketplace liquidity, and guidelines to safeguard confidential transaction information to ensure marketplace integrity and neutrality. BayanTrade.com also signed up Commerce One, a leader in global e-commerce solutions, as technology provider. The e-marketplace will use Commerce One's Newly released MarketSite Portal Solution and the BuySite eProcurement application. By partnering with Commerce One, buyers and suppliers that join BayanTrade.com are assured of world-class technology for their e-procurement needs. BayanTrade.com will also be the newest member of the Global Trading Web (GTW), a group of 23 international e-marketplace that have partnered with Commerce One. This means BayanTrade.com members will have unprecedented access to a global distribution channel that will lead to efficiency and extended reach. Also partnering with BayanTrade.com is Compaq which will supply the hardware. Compaq has done several hardware installations of Commerce One for GTW. BayanTrade.com will be using Compaq's leading servers for the internet - the Proliant DL servers to power up its nonstop e-business running on Microsoft platform. BayanTrade.com aims to make the Philippines a major participant in the new economy, assist Philippine business to become globally competitive, accord consumers unprecedented choice and competitive prices, and provide suppliers extended access to a global community of buyers.
AC ( 08/28/2000 : PSE )
Please be informed that the Executive Committee of Ayala Corporation,
in the exercise of its powers set forth under the By-Laws of the
Corporation, approved today the issuance of redeemable preferred
"AA" shares of up to P2.5 B worth. The salient features of the issue
are as follows:
Instrument : Redeemable Preferred "AA" shares
Issue Amount : Up to P2.5 B
No. of Shares : Up to 500 M shares
Par Value : P1.00 per share
Issue Price : P5.00 per share
Issue Date : September 2000
Term : Up to five (5) years
Dividend Rate : Floating rate, determined quarterly, equivalent to 80%
of the Applicable Base Rate, or in certain circumstances, the
Alternative Base Rate, plus spread of 1.5% p.a. The Applicable Base
Rate shall be the latest weighted average auction results for the 91
day T-Bills immediately preceding or on the Dividend Rate Setting Date.
Mandatory Redemption : Redeemable in full via a payment in cash of
100% of Issue Price at the end of the fifth (5th) year from Issue Date.
Sinking Fund: The Issuer shall no earlier that 360 days prior to the
redemption date open and maintain a trust account with a trustee bank
and deposit, in cash, an amount equivalent to three percent of the
aggregate Issue Price of the shares outstanding, as and by way of
the sinking fund, as required under the rules and regulations of the
SEC. The trust account shall, be subject to review by the Issuer every
thirty (30) days and the Issuer shall infuse additional funds under
such review.
Manner of offering : The Preferred Shareholders shall be given
preference over holders of common stock in the 1) distribution of
corporate assets in the event of liquidation, dissolution or winding up
of the Issuer, and 2) distribution of dividends.
Cumulative as to Dividends : The Preferred Shareholders shall be
entitled to payment of current dividends as well as any unpaid bank
dividends on the shares (subject to penalty interest) before any
dividends can be declared and paid on the common stock.
Non-Convertible : The Preferred Shares shall not be convertible into
common shares.
AC ( 08/28/2000 : PSE )
Non-Participating : The Preferred Shareholders shall not be entitled to
receive any other or further dividends or earnings of any kind
whatsoever, beyond the dividends specifically payable on the
Preferred Shares.
Non-Voting : The Preferred Shareholders shall have no right to vote at
any regular or special meeting except in those cases specifically
provided by law.
No Preemptive Rights : The Preferred Shareholders shall have no
preemptive right to subscribe to any new shares.
|
