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ARIES
Prime Holdings Inc. and Manila Jockey Club Inc. (MJC)
were the first and the last in the list of the stock
market’s 30 biggest gainers in the trading week from
April 14 to 18, 2008.
Aside
from being the market’s best performer, Aries has
“somebody” in common with the racing company: Alfonso R.
Reyno Jr., owns 14.183 million APR shares, or 13.33
percent, the same number he owned as of December 31,
2006. Reyno, MJC chairman and president, directly owns
38.065 million MJC shares, or 10.59 percent.
JTH
Holdings Inc. made it to No. 9 among the market’s top
performers. Its parent company, Philippine Racing Club (PRC)
was not traded during the week. PRC, which had only four
transactions since March 5, 2008, was last traded on
March 31, 2008, when it closed at P2.90.
PRC,
however, made a filing that apparently drove up JTH. In
a disclosure, it told regulators that the Supreme Court
has issued a temporary restraining order against a
decision issued by the Court of Appeals and Branch 129
of the Makati City Regional Trial Court stopping PRC’s
plan to transfer some of its assets to JTH.
“With
the issuance of the TRO by the Supreme Court,” PRC said,
“PRC can now proceed with the proposed exchange of
their Makati Property for shares of stock of JTH.”
While
PRC is the parent of JTH, MJC is still in the process
of assuming the same role in Aries when the latter
receives MJC’s property assets in a corporate act that
will make MJC the owner of at least 90 percent of
Aries’s outstanding shares.
With the
proposed asset-swap, rarely traded Aries surged over 100
percent to close the week at P3.90 from P1.74, not in
the previous week, but on April 8, 2008.
Atlas
Mining and Development Corp. gained 12.50 percent on
value turnover of P95.389 million. It closed on Friday
at P11.25. In its last filing signed by Carmen-Rose A.
Basallo Estampador, and which was dated April 9, 2008,
Atlas said its board postponed its scheduled annual
stockholders’ meeting on April 30, 2008.
Atlas
did not give the reason for the meeting’s postponement.
Neither did it give a new date. Instead, it told the
Philippine Stock Exchange that its board would decide on
this in its next regular meeting.
Banco de
Oro Unibank Inc. climbed 5.05 percent last week to P52.
Its last filing was on Friday, when it submitted to
regulators its definitive information statement (DIS)
for its coming annual stockholders’ meeting. It filed
its preliminary information statement (PIS) on April 3,
2008.
Both the
DIS and the PIS contain the agenda for the coming BDO’s
annual stockholders’ meeting on May 9, 2008 but with a
major change in the merger that will be proposed for
stockholders’ approval.
In its
PIS, BDO said up for stockholders’ ratification is the
three-way merger of the Bank (meaning BDO) with its two
wholly-owned subsidiaries, PCI Capital Corp. and savings
bank Equitable Savings Bank Inc.
BDO said
it in its DIS, it is not three-way merger but four, to
include aside from those mentioned in its PIS, BDO Elite
Savings Bank (currently known as “American Express Bank
Philippines).”
The
bank, which is controlled by SM Group, will also submit
for stockholders’ approval the increase in its
authorized capital to P65 billion to include 1 billion
voting preferred shares. Like the common shares, BDO’s
preferred shares will also have par value of P10 each.
(In its DIS, BDO placed inside a pair of parentheses
P10,000 for preferred shares). The preferred shares are
perpetual, meaning they are not redeemable at the option
of the holders.
In
increasing its authorized capital, BDO’s common shares
will remain at 5 billion, of which 2.032 billion were
outstanding as of 2007.
Philippine Seven Corp. was the week’s works performer.
It closed at P3.30 on small value turnover of 40,000.
Lepanto
Consolidated Mining Co. “A” was one of the market’s old
reliables that landed in the week’s losers’ list at No.
11. It closed the week’s sessions at P0.30. Lepanto is
selling to its stockholders 4.172 billion shares at
P0.25 under a stock rights offering for stockholders as
of March 25, 2008. The offering started on March 25,
2008 and will end on April 22, 2008.
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