San Miguel’s food subsidiary
Credit to Author: EMETERIO SD. PEREZ| Date: Thu, 14 Feb 2019 16:18:43 +0000
Cebu Landmasters Inc. (CLI) bought back 100,000 CLI common shares at different prices on Feb. 11, 2019. In a filing posted on the website of the Philippine Stock Exchange (PSE) on Feb. 12, 2019, it said it repurchased 61,000 CLI common shares at P4.10 each; 2,000 CLI common shares at P4.11 each; 10,000 CLI common shares at P4.12 each; 8,000 CLI common shares at P4.13 each; 12,000 CLI common shares at P4.14 each; and 7,000 CLI common shares at P4.15 each.
The reacquisitions increased the number of the company’s treasury shares from 48.8 million CLI common shares to 48.9 million “from the date when the share buy-back program commenced,” Cebu Landmasters said in an explanatory note.
In the same filing, Cebu Landmasters said that as of Feb. 12, 2019, of P250 million share buy-back budget, it has already spent P222,244,500. This translates to an average repurchase price of P4.545 per CLI common share.
As of Dec. 31, 2018, Cebu Landmasters has issued a total of 1.714 million CLI common shares of which 46.5 million CLI common shares were in treasury and 1,667,500,000 outstanding CLI common shares.
On Feb. 12, 2019, Cebu Landmasters opened trading at P4.19 per CLI common share, hit a session high of P4.20, fell to a low of P4.10 and closed the day at P4.18. As shown in www.pse.com.ph under “historical data,” the stock peaked at 30-day high of P4.35 and dropped to a month’s low of P3.90.
SMC is direct stockholder
As a subsidiary of San Miguel Corp. (SMC), San Miguel Food and Beverage Inc. (FB) updated SMC’s ownership. As of Jan. 31, 2019, SMC’s food unit said San Miguel is
now a direct stockholder with 5.245 billion FB common shares, or 88.76 percent of 5.909 billion outstanding FB common shares.
As of Jan. 31, 2019, San Miguel Food said in a filing dated Feb. 13, 2019 that SMC indirectly owned 4.243 billion FB common shares of its holdings totaling 5.245 billion FB common shares. As the parent company, SMC held only 1.002 billion FB common shares as shown in the list of FB’s top stockholders as of Dec. 31, 2018.
As record stockholder, PCD Nominee Corp. held 4.243 billion FB common shares for SMC. As of Dec. 31, 2018, it also held 4.82 billion FB common shares and 14.108 million FB preferred S2 shares for a total of 4.834 billion shares which were then equivalent to 81.595 percent. It also held 65.45 million FB common shares and 105,645 preferred shares for foreigners who indirectly owned a total of 65.561 million FB common shares, or 1.107 percent.
The PSE website still lists Eduardo M. Cojuangco Jr. as chairman of FB’s 13-person board with Ramon S. Ang as vice chairman. It also shows San Miguel Food having four independent directors, namely, Carmelo L. Santiago, Minita V. Chico-Nazario, Ricardo C. Marquez and Cirilo P. Noel.
Ownership profile
In a public ownership report (POR), Central Azucarera de Tarlac Inc. (CAT) listed two principal stockholders with combined holdings of 248.078, or 87.81 percent. These are CAT Resource Assets & Holdings Inc. with 201.718 million CAT common shares, or 71.4 percent, and Luisita Trust Fund with 46.36 million CAT common shares, or 16.41 percent.
In the same filing, CAT attributed to its public stockholders the ownership of 34.435 million CAT common shares, or 12.19 percent.
The seven-person board of the listed company held 1,020 common shares as of Jan. 14, 2019 while four executives owned 24,980 common shares.
On Feb. 13, 2019, CAT common shares opened trading at P17.20, hit a session high of P18.40, fell to a low of P16.42 and closed the day at P16.52. Volume remains thin as only 70.700 common shares were traded during the session.
The stock, according to www.pse.com.ph, peaked at 30-day high of P19 and dropped to a month’s low of P15.80.
In a definitive information statement (DIS), CAT listed PCD Nominee as record holder of 260.448 million CAT common shares, or 92.18 percent, for CAT Resource & Asset Holdings.
CAT Resource identified two CAT stockholders for whom it held CAT common shares totaling 201.718 million, or 71.40 percent. These are Martin Ignacio P. Lorenzo, 102.876 million CAT common shares and Fernando Ignacio C. Cojuangco, 98.842 million CAT common shares.
Email: esdperez@gmail.com
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