Philippine Stock Exchange: Market News and Updates – October 30, 2014

PXP Net Loss for 9M14 Reaches P377.6 Million
Philex Petroleum Corporation (PSE: PXP) incurred a consolidated net loss of P376.9 million for the nine-months ended September 30, 2014, compared to a consolidated net loss of P190.2 million during the same period last year. The increase in net loss was mainly due to an impairment loss related to Service Contract 6A recorded by Pitkin Petroleum Plc, which was partly offset by higher petroleum revenues of Forum Energy Plc, reduction in general and administrative expenses, decrease in interest expenses, and a foreign exchange gain. [Read more...]

Philippine Stock Exchange: Market News and Updates – October 28, 2014

Alakor Subscribes to Additional 1.1 Billion APO Shares
Alakor Corporation subscribed to an additional 1,109,961,961 shares of Anglo Philippines Holdings Corporation (PSE: APO) at a subscription price of P1.8516 per share on Friday, October 24, 2014. This additional subscription is the last leg of APO’s private placement to Alakor. [Read more...]

Philippine Stock Exchange: Market News and Updates – October 27, 2014

GTCAP Approves Creation of Voting Preferred Shares
The Board of Directors of GT Capital Holdings, Inc. (PSE: GTCAP) approved the creation of a new class of shares – Voting Preferred Shares, to be taken from the company’s existing authorized capital stock. This will be submitted for consideration and approval of stockholders in a Special Stockholders’ Meeting on January 9, 2014. [Read more...]

Philippine Stock Exchange: Market News and Updates – October 24, 2014

GREEN Change in Par Value to Take Effect October 30
The previously reported change in par value of Greenergy Holdings Incorporated (PSE: GREEN) will take effect on Thursday, October 30, 2014, the PSE announced yesterday. The change from P0.01 per share to P1.00 per share was approved by the SEC on September 15, 2014. [Read more...]

Philippine Stock Exchange: Market News and Updates – October 20, 2014

CAT Appoints New Directors
Following the completion of the tender offer conducted by CAT Resource Asset & Holdings, Inc., a new set of directors were appointed to the Board of Directors of Central Azucarera de Tarlac, Inc. (PSE: CAT) to serve until the next annual meeting. The new directors are Martin P. Lorenzo, Marco P. Lorenzo, Vigor D. Mendoza and Fernan Victor P. Lukban. [Read more...]