Manila Bulletin Declares 41.3177% Stock Dividend and Increases Its Authorized Capital to P5 Billion on July 6, 2000; Payable to All Stockholders on the Record Date That Shall Be Fixed by the Securities and Exchange Commission

Article excerpt

Manila Bulletin Publishing Corporation during the meeting of the Board of Directors and its Annual Stockholders Meeting held on July 6, 2000 declared a 41.3177% stock dividend at par value of P1.00 per share or worth P409,324,650.00 payable to stockholders based on record date to be fixed and approved by the Securities and Exchange Commission (SEC).

It also approved during the same meeting to increase the authorized capital stock of the Corporation from P3.4 billion to P5 billion using the stock dividends as subscription and full payment to the increase of the Authorized Capital Stock.

The Manila Bulletin was established on February 2, 1900 and is the first in the newspaper industry in the Philippines to go public. On April 18, 1990, it offered the general public who are Filipino Citizens, Corporations, Cooperatives and Associations wholly-owned and managed by Filipino Citizens, the opportunity to buy and own Manila Bulletin shares and become Stockholders of the nation's leading newspaper. Those who are interested in buying or investing on a long term basis and owning a minimum of 1,000 shares or more based on the prevailing stock market price or at the seller's price are welcome to contact any Licensed Stockbroker of the Philippine Stock Exchange, Inc. by placing their purchase orders directly:

Philippine Stock Exchange Center

Exchange Road, Ortigas Complex

Pasig City

Tel. Nos. 636-0122 to 41

Philippine Stock Exchange Plaza

Ayala Avenue

Makati City

Tel. Nos. 891-9001 to 03

After an investor buys shares at whatever price, the Manila Bulletin has no control or responsibility over the price at which the Stockholder may wish to dispose of his shares later on or at whatever price it may be traded in the Philippine Stock Exchange, Inc.

However, it is the policy of the present Manila Bulletin Management to do its best to operate the Corporation with profitability and to share its profits with the investors in the form of stock or cash dividends whenever and as much as feasible from the surplus of the Corporation.

Since the Manila Bulletin went public on April 18, 1990, the Corporation has declared five (5) stock dividends with a total of 271. …