A ‘super public company’

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Emeterio Sd. Perez

Emeterio Sd. Perez

Supercity Realty Development Corp. (SRDC) may be small for a company but it can boast of being both listed and public.

Formed on June 9, 2000, SRDC was into construction business until its owners decided in 2008 to “focus its activities into real estate development.

It said so on the website of the Philippine Stock Exchange although it used to build “houses, buildings, roads, bridges and other construction projects for the private sector and the government anywhere in the Philippines.”
According to its latest report, SRDC’s 110 million issued shares remain outstanding and are all listed on the Philippine Stock Exchange.

SRDC, which has piled up deficit of P107.174 million as of June 30, is more public than others because it has 359 stockholders who own 109.997 million shares, or 99.997 percent. It named only as “others stockholders” those who did not make it to the list but who own 3,001 SRDC shares, or 0.002728 percent.


PCD Nominee Corp., which is No. 6th in the list of stockholders, hold 6.537 million shares, or 5.943 percent, for Abacus Securities Corp., 6.53 million SRDC shares, or 5.936 percent; First Metro Securities Brokerage Corp., 4,000 SRDC shares, or 0.003636 percent; and Maybank ATR Kim Eng Securities Inc., 3,000 SRDC shares, or 0.002727 percent.

Principal stockholders

Wilfredo Uy is SRDC No. 1 stockholder with 18 million shares, or 16.3636 percent followed by Nimfa Leonco, and Mylene Lim, 10.85 million SRDC shares each or 9.8636 percent. Arthur Lim and Ferdinand Soliman own 7.15 million SRDC shares each or 6.50 percent. It has eight stockholders who hold 5 million SRDC shares each.

The other significant stockholders also include two, who hold 3,000 shares each, or 2.727 percent; and three, who own 20,000 shares each. The rest of SRDC’s stockholders from No. 20 to No. 359 hold 10,000 SRDC shares each or 0.009091 percent.

With its widely distributed ownerships, SRDC should serve as a role model for other listed companies but which are not necessarily public: Share bigger ownerships with the public.

It is not often that the public would find a listed company in which PCD Nominee holds only 6.537 million, or 5.94 percent, for only three stockbrokerage clients.

With its small outstanding capital stock, Supercity shares were last traded on May 11, 2009 when the stock’s price remained at P0.80 throughout the session on thin volume of only 3,000 shares.

Ownership profile

Centro Escolar University has 372.414 million outstanding shares. Its single biggest stockholder is USA Auto Co., which owns 126.621 million CEU shares, or 34 percent. U.S. Automotive Co. Inc. holds 55.964 million CEU shares, or 15.02 percent.

PCD Nominee holds 49.982 million CEU shares, or 13.42 percent, as record stockholder for Alejandro Dizon, beneficial owner. Dizon also directly owns 51,837 CEU shares. Southville Commercial Corp. is CEU’s third corporate stockholder with 29.686 million shares, or 7.97 percent.

In an ownership filing, CEU said “all beneficial/record owners as a group” own 262.304 million CEU shares or 70.43 percent. It attributed to the school’s management the ownership of 60.498 million CEU shares, or 16.24 percent.

All in all, CEU said, the corporate stockholders including PCD Nominee, and the school’s management, combine for total holdings of 322.802 million CEU shares, or 86.678 percent.

A public ownership report (POR) credits the public with 99.645 million CEU shares, or 26.76 percent. Their holdings include PCD-held 49.982 million CEU shares, or 13.42 percent owned by Dizon.

CEU shares hit a 30-day high of P10.22 and dropped to a month’s low of P9.

100% stock dividend

ATN Holdings Inc. was incorporated in 1961 as Jabstract Mining and Industrial Corp. In 1996, it became a holdings company bearing the present corporate identity.

The PSE website shows it has 3.7 billion shares that it classifies as issued, listed and outstanding. This means ATN Holdings has no shares for 100-percent stock dividend that the company’s board recently approved.

As of March 31, ATN Holdings reported retained earnings of P1.348 billion in an unaudited financial filing. The amount is more than enough to cover a 100 percent stock dividend equivalent to P370 million computed on the P0.10 par value of because the company’s capital stock.

A 100-percent stock dividend, that has yet to be announced, will double ATN Holdings’ outstanding capital stock to 7.4 billion shares.

Recently, ATN Holdings converted its 5 billion Class A common shares into preferred shares. The conversion, which forms part of the company’s capital-raising exercise, was approved in June by the Securities and Exchange Commission.

ATN share price peaked at 30-day high of P0.395 and fell to 30-day low of P0.350.

esdperez@gmail.com

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