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Home Business Business Columns The public stockholders of Meralco, Xurpas and Lodestar

The public stockholders of Meralco, Xurpas and Lodestar

 

EMETERIO SD. PEREZ

MANILA Electric Co. uses MER as stock market symbol but it is Meralco for electricity users. Meralco, or MER, has authorized capital stock (ACS) of 1.25 billion common shares of which 90.168 percent are owned by 42,357 Filipinos with their ownership of 1,041,457,542 MER common shares, and by 330 foreigners with their ownership of 85,641,163 common shares, or 7.60 percent.

As a publicly traded stock, Meralco’s ACS also includes 300 million voting preferred shares, which, like the company’s common shares also have a par value of P10. The preferred shares make for total ACS of 1.55 billion shares.


As of Sept. 30, 2019, a public ownership report (POR) listed MER’s public stockholders as holders of 236,546,206 MER common shares, or 20.99 percent. Meralco attributed to 11 directors their ownership of 200,264 MER common shares, or 0.02 percent; and 15 executives with direct ownership of 256,405 MER common shares.

In the same POR, Meralco listed three principal stockholders, such as Beacon Electric Asset Holdings Inc., 394,059,235 MER common shares, or 34.96 percent; JG Summit Holdings Inc., 333,189,397 MER common shares, or 29.56 percent; and Metro Pacific Investments Corp., 118,364,807 MER common shares. The three combined for ownership of 845,613,439 MER common shares, or 75.03 percent.

Aside from its 512,424,042 MER common shares as shown in the POR, Beacon Electric and Metro Pacific also hold for Indonesian-owned First Pacific Co. Ltd. 300 million voting preferred shares.

X stands for Xurpas
X stands for Xurpas in Xurpas Inc. in which PCD Nominee Corp. holds as record stockholder for Filipino beneficial owners 505,631,891 X common shares, or 27.01 percent, and 292,459,234 X common shares, or 15.62 percent, for foreigners.

The other stockholders of the company are Fernando Jude F. Garcia with 375,073,960 X common shares, or 20.04 percent; Raymond Gerard S. Racaza with 375,073,960 X common shares, or 20.07 percent; and Nico Jose S. Nolledo, who directly and indirectly owns 322,226,622 X common shares, or 16.65 percent.

In an explanatory note, Xurpas said Nolledo’s ownership “includes Xurpas shares registered in the name of Eden International Holdings Pte. Ltd.”

A POR as of June 30, 2019 listed Xurpas’ six directors as direct holders of 660,680,616 X common shares, or 35.31 percent of 1,871,355,210 outstanding X common shares.

The biggest stockholder among Xurpas’ directors is Fernando Jude F. Garcia with 375,073,960 X common shares, or 15.13 percent. Next to him is Nico Jose S. Nolledo, who directly owns 283,056,859 X common shares, or 15.13 percent.

Xurpas’ other directors and their holdings are as follows: Merceditas S. Nolledo, 2,378,338 X common shares, or 0.13 percent; Jonathan Gerard A. Gurnago, 169,399 X common shares, or 0.01 percent; Wilfredo O. Racaza, 1,060 X common shares; and Alexander D. Corpuz, 1,000 X common shares.

The public stockholders of Xurpas own 795,738,871 X common shares, or 42.52 percent of outstanding while Raymond Gerard S. Racaza is the principal stockholder with directly owned 375,765,960 X common shares, or 20.08 percent.

Lodestar’s stockholders
A POR as of Sept. 30, 2019 listed the public stockholders as owners of 739.948 million common shares, which were then equivalent to 24.665 percent of 3 billion outstanding common shares of Lodestar Investment Holdings Corp. (LIHC).

The company said in the same POR of having issued 3 billion common shares and did not have treasury shares to deduct from its issued common shares.

Five of seven LIHC directors own 10,000 LIHC common shares each, while two of them hold 1,000 LIHC common shares each.

Of the issued and outstanding LIHC common shares, Lodestar listed two principal stockholders, namely, Socorro P. Lim with 2 billion LIHC common shares, or 66.68 percent of 3 billion outstanding LIHC common shares, and Nathaniel C. Go with 260 million LIHC common shares, or 8.66 percent. Their holdings total 2.26 billion LIHC common shares, or 75.32 percent.

In an unaudited financial filing as of June 30, 2019, Lodestar reported an equity deficit of P125.475 billion including its net income loss of P85.098 million in the unaudited quarters.

Lodestar’s top five stockholders per the company’s list of top 100 stockholders as of Sept.30, 2019 are Socorro P. Lim, 2 billion LIHC common shares, or 66.667 percent; PCD Nominee Corp., 629,910,429 LIHC common shares, or 20.997 percent; Renato L. Reyes, 72 million LIHC common shares, or 2.40 percent; and Ramon L. Abad Jr., 28 million LIHC common shares, or 0.933 percent.

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Today’s Front Page February 26, 2020

Today’s Front Page February 26, 2020