INSIDERS’ Trades. Lopez Inc., the unlisted holding company of the Lopez family, bought 80,000 shares in Lopez Holdings Inc. (LHI) at P4.99 each on September 25; 158,700 shares at P4.98 each on September 26; and 41,300 shares at P4.99 each on September 26. The acquisitions increased the number of LHI shares Lopez Inc. directly owns to 2.4 million, or 52.8 percent. LHI climbed to a 30-day high of P5.36 on August 24 and fell to month’s low of P4.53 on August 28.
Earthright Holdings Inc. increased its holdings in Agrinurture Inc. to 153.6 million shares, or 28.7 percent, after buying 2.6 million shares at various prices on September 24 and 25. Agrinuture hit 30-day high of P6.39 on September 25 and dropped to 30-day low of P5 on September 23.
On September 19, Ramon Garcia Jr., president and director of DFNN Inc., and Jean-Henri Lhuillier, a director, bought 325 shares DFNN shares each at P4.21 a share. DFNN recorded 30-day high of P5 on August 13 and 30-day low of P3.90 on September 13.
Buyback. South China Resources Inc. (SCRI) has allocated P120 million in buying back 100 million shares in two years starting on December 22, 2011. But at the slow pace it is implementing in the reacquisition of its own shares, it may not be able to achieve is target by December 22, 2013.
On September 26, SCRI increased the number of its treasury shares to 3.27 million after buying back 5,000 shares at P1.05 each.
As of June 30, 2013, SCRI reported retained earnings of P938.93 million of which P500 million is appropriated for projects. In the same quarterly financial filing, the company said it has spent P2.34 million in buying back shares.
SCRI peaked at P1.11 on July 18 and dropped to its low of P1.03 on September 26.
Brand Identity. In less than two months, businessman Andrew Tan changed the name of Touch Solutions Inc. (TSI) twice.
First, to retain TSI as the company’s market symbol, he adopted TrillionStars Inc. for Touch Solutions’ new corporate identity, which has already been registered with the Securities and Exchange Commission (SEC).
Then it probably occurred to Tan that renaming TrillioStars to Emperador Inc. would give the liquor brand a good name recall. He could have imagined the free publicity the market would generate for Emperador brandy every time his company makes a proper filing in compliance with the full disclosure rule.
As has been amended, the SEC-approved Articles of Incorporation of TrillionStars Holdings carries Emperador Inc. as the new corporate name.
Ownership Profile. Four corporate stockholders own a total of 1.256 billion shares, or 80.48 percent of 1.561 billion outstanding shares of Araneta Properties Inc. Of the four, Carmel Development Inc. is the biggest stockholder with 500 million shares, or 32 percent. The others are Gamma Properties Inc., 437.93 million shares, or 28 percent; Spathodea Campanulata Inc., 193.53 million shares, or 12.4 percent; and Olongapo Mabuhay Express Corp., 124.86 million shares, or 8 percent.
An ownership filing listed Gregorio Ma. Araneta 3rd, president of Araneta Properties since 1997, as the common nominee of Carmela in which he owns 99 percent and Gamma in which he holds 50 percent. Carlos Araneta is the nominee of Spathodea being its majority stockholder. Ma. Joy Cruz owns 80 percent of Olongapo Mabuhay but has Benito Araneta as the nominee.
Executive compensation. Araneta Properties paid its executives P36.3 million in a three-year period including estimates for 2013. The compensation represents 89.8 percent of the company’s net income of P40.4 million from 2010 to 2012.
The compensation went to the top five highest paid executives and other officers not identified the compensation filing. In the first group are Gregorio Ma. Araneta 3rd, chairman and chief executive officer; Crisanto Roy Alcid, president; Luis Ma. Araneta, director; Rhoan Purruganan, legal head; and Jose Eustaquio 3rd, chief finance officer.
As a group, the top five received P5.82 million in 2011, which increased 27.5 percent to P7.4 million in 2012. By the end of 2013, company estimates their compensation to increase 36.5 percent to P10.13 million.
The compensation filing shows “other officers as a group unnamed” got P3.5 million in 2011 which slightly went up to P3.8 million in 2012. This year, they would get a total of P5.6 million.