3.473-B stock dividend

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EMETERIO SD. PEREZ

EMETERIO SD. PEREZ

BERJAYA Philippines Inc. is increasing its authorized capital to P6 billion from P2 billion to accommodate the company’s stock dividend for 3,473,024,684 shares with a par value of P1.

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Of Berjaya’s present authorized capital stock consisting of 2 billion shares, 868.256 million shares are paid up, leaving 1.132 billion unissued shares.

It needs a much bigger authorized capital stock of 6 billion shares when it distributes to stockholders more than 3.473 billion stock dividend.

The stock dividend plus Berjaya’s present outstanding shares would be equal to 4.341 billion shares, which would leave the company 1.659 billion unissued shares.

As of latest financial filing, which was May 15, 2015, Berjaya had retained earnings of P5.873 billion of which P4.623 billion was appropriated and P1.25 billion was unappropriated.

Berjaya Philippines listed two stockholders in a public ownership report. Berjaya Lottery Management (HK) Ltd. directly owns 644.245 million shares, or 74.2 percent while Berjaya Sports Toto (Cayman) Ltd. holds 122.041 million shares, or 14.06 percent.

With the Berjaya group controlling 88.26 percent, the public own 101.441 million shares, or 11.68 percent. The members of the five-man board are credited with 526,721 shares, or 0.06 percent.

Chairman buying

Willy Ocier, chairman and president of Pacific Online Systems Corp. (LOTO), increased his direct holdings in the company to 23.93 million shares, or 9.02 percent, by buying 100,000 LOTO shares at P17.84 each on June 6, and 100,000 shares at P17.90 each and 200,000 shares at P17.98 each on June 7.

Pacific Online recorded a 30-day high of P18.50 after opening trading at P18.04 on June 8. It closed at its session’s peak at P18.50. The following session, the stock opened low at P12.10, hit a high of P12.50, fell to a low of P2.08 and closed at P12.50.

The stock’s decline resulted from the declaration of a 50 percent stock dividend, which would increase to 447.665 million the outstanding capital stock of Pacific Online.

As of March 31, Pacific Online had consolidated retained earnings of P1.327 billion after paying 50 percent stock dividend. It reported total current assets of P840.102 million against total current liabilities of P320.204 million.

Sold to heirs

Businessman John Gokongwei Jr. sold on May 26 at P82.10 each 142.5 million of his remaining 200.508 million shares in JG Summit Holdings Inc. The sale of the shares, apparently to his children, reduced the number of JGS shares he still holds to 58.008 million.

Mr. Gokongwei is chairman emeritus of JG Summit. A public ownership report still posted on the website of the Philippine Stock Exchange listed him as owner of 821.537 million JGS shares, or 11.71 percent, as of July 15, 2014.

JG Summit was last traded on Friday, June 10 at P83.50.

As chairman emeritus, Mr. Gokongwei remains active as a member of the board of JG Summit which has under it seven core businesses engaged in various enterprises from foods, and agro-industrial to real estate and hotels.

Updated GIS

Asiabest Group International Inc. listed in its latest general information sheet seven foreigner stockholders who own a total of 146,617 shares. It identified them only as three Americans, one Canadian, one British, and one Singaporean. It also listed one foreigner but classified only as NF, which stand for non-Filipino whose holding is lodged with PCD Nominee Corp.

In a public ownership report, Asiabest said it has 135.72 million non-public shares leaving the public with 64.28 million shares, or 32.14 percent. As significant stockholders, the public is not represented in Asiabest’s nine-man board, led by Antonio Victoriano Gregorio 3rd, chairman and president.

In an abbreviated filing, Asiabest named only two other executives, namely Delfin Castro Jr., who is treasurer and chief finance officer; and Venus Gregorio, corporate secretary and corporate information officer.

esdperez@gmail.com.

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