Phoenix Petroleum Philippines Inc. (PNX) reported 1,406,204,232 outstanding common shares on the Philippine Stock Exchange (PSE). The company included in its listed common shares 31 million treasury common shares among its listed stock.

In a letter dated Jan. 27, 2020 to the Securities and Exchange Commission and PSE, PNX said that its 11-person board has authorized “the company through management to assign and transfer to its subsidiary, PFL Petroleum Management Inc. (PPMI) 72 company-owned dealer-operated (CODO) retail stations worth P700 million as part of the capital investment in PPMI as previously approved by the board on 24 June 2019.”

The company also said it amended “the corporation’s by-laws, particularly Article II Section on the Annual Meeting of Stockholders from last Friday of March of each year to last Friday of April each year.” Socorro Ermac Cabreros signed the letter as corporate secretary.

On Apr. 30, 2020, PNX common shares opened trading at P11.16, hit a high of P11.80, dropped to a low of P11.14 and closed at P11.58 on 273,700 common shares. The stock peaked at a 30-day high of P12 on Apr. 23, 2020 when it opened at P10, hit a high of P12, dropped to a low of P10 and closed at its high of P12. It dropped to a 30-ay low of P8.80 on Mar. 16, 2020 when it opened at P9.60, hit a high of P9.80, dropped to a low of P8.80 and closed at P9.77.

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Cirtek Holdings Philippines Corp. had, as of 2019, according to Percival R. De Guzman of R.S. Bernaldo & Associates external auditors, retained earnings of $1,728,458. It reported current assets of $140,798,805 against current liabilities of $64,738,979.

Note 17 under “capital stock,” Cirtek detailed the components of its capital stock such as 9,594,321 common shares and 2,615,995 preferred shares, which had not changed since 2017. Its additional paid-in capital totaled $100,469,659 from 2017 to 2019.

Cirtek owed three banks a short-term loans total of $24,584,593. Note 13.01 named them as follows: China Banking Corp. (CBC), $10.5 million in 2019 and $11 million in 2018; United Coconut Planters Bank (UCPB), $9,874,593 in 2019 and none in 2018; and Rizal Commercial Banking Corp., $4.21 million in 2019 and $4.21 million in 2018.

Note 13.01 also elucidated on the “terms and conditions of short-term loans as follows: Revolving loan facilities with CBC, which have payment terms of 60 to 180 days, unsecured and charged interest of 5 per annum; revolving loan facilities with UCPB, which have payment terms of 182 to 193 days, unsecured and charged interest rate of 5.50 to 6 percent in 2019; and revolving loan facilities with RCBC, which have payment terms of 180 days, unsecured and charged interest of 3.95 percent and 3.45 percent in 2019 and 2018, respectively. (Cirtek uses the US dollar as functional currency.)

On Apr. 30, 2020, Cirtek common shares opened trading at P8.90, hit a high of P9.15, dropped to a low of P8.50 and closed at P9. The stock peaked at a 30-day high of P9.99 on Apr. 17, 2020 when it opened at P9.50, hit a high of P9.99, dropped to a low of P8.45 and closed at P8.72. It hit a low of P3.62 on Mar. 19, 2020 when the stock opened at P4, its session high, dropped to a low of P3.62 and closed at P3.76.

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Rolando R. Avante is the vice chairman of the 10-person board and president of Philippine Business Bank (PBB), which has 643,750,094 outstanding common shares that are all listed on the PSE. In 10 trading sessions, he bought 219,700 PBB common shares at different prices. He bought 50,000 common shares at P12.50 each on Jan. 7, 2020; 20,000 PBB common shares at P12.20 each on Jan. 9, 2020; 9,000 PBB common shares at P12.10 each on Jan. 21, 2020; 40,000 PBB common shares at P12.10 each on Jan. 22, 2020; 15,300 PBB common shares at 11.20 each on Feb. 14, 2020; 34,700 PBB common shares at P11.20 each on Feb. 17, 2020; 10,000 PBB common shares at P8.50 each on Apr. 23, 2020; 10,000 PBB common shares at P8.40 each on Apr. 23, 2020; and 22,900 PBB common shares at P8.50 each; and 7,100 PBB common shares at P8.50 each on April 27, 2020.

Avante’s additional PBB common shares increased his ownership to 1,422,722 PBB common shares, or 0.221 percent, from 1,203,022 PBB common shares, or 0.189 percent of outstanding.

On Apr. 30, 2020, PBB common shares traded throughout the day’s session at P8.50 on volume of 10,000 common shares. The stock peaked at 30-day high ofP12.04 on Feb. 26, 2020 when it opened at P12.04, hit a high of P12.04, dropped to a low of P12.02, and closed at P12.03 and fell to a 30-day low of P5.32 on Mar. 13, 2020 when the stock opened at P10.22, hit a high of P10.60, dropped to a low of P5.32 and finished the session at P10.60 on volume of 203,600 common shares.

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Far Eastern University Inc. (FEU) amended its general information sheet (GIS) to reflect the “appointment of lawyer Anthony Raymond A. Goqungco as acting corporate secretary effective Apr. 21, 2020.” He replaced lawyer Santiago L. Garcia Jr. whose demise was disclosed on Mar. 30, 2020.

In its GIS, FEU said 1,460 Filipinos subscribed to 10,839,175 FEU common shares, or 65.78 percent of 16,477,023 outstanding common shares, with par value of P100 per common share, and 1,441 Filipinos subscribed to 5,453,559 common shares. Foreigners were of various nationalities with 27 Americans subscribing to 109,192 common shares; six Canadians, 1,662 common shares; six Chinese, 5,762 common shares; 11 Australians, 57,352 common shares; and one under “others,” 10,321 common shares.

The filing placed FEU’s paid-up capital as follows: 460 Filipinos paid for their subscription to 16,292,734 common shares, or 98.882 percent while 51 foreigners paid for 184,289 common shares.

Seyrel Investment and Realty Corp. is FEU’s top stockholder with 4,717,162 common shares, or 28.63 percent. Sysmart Corp. of the Sy family owned 3,546,138 common shares, or 21.52 percent; Desrey Inc. with 1,318,464 common shares, or 8 percent. PCD Nominee Corp. was record stockholder of 881,237 common shares, or 5.35 percent. Angelina D. Palanca was credited with 531,873 common shares, or 3.23 percent.

On Apr. 17, 2020, FEU common shares traded throughout the session at P830 on volume of 20 common shares. The stock peaked at a 30-day high of P930 on Feb. 3, 2020 when the stock opened at P923, hit a high of P930, dropped to a low of P923 and closed at its high of P930. It fell to a 30-day low of P800 on Mar. 9, 2020 when it opened at P805, its high, dropped to a low of P800 and closed at P800 on 240 common shares. On Mar. 3, 2020, the stock also dropped to a low of P800 when it opened at P800.50, its high, dropped to a low of P800 and closed at its low of P800. FEU common shares also dropped to P800 and closed at their low of P800 on Mar. 20, 2020.

Do the public and insiders keep FEU’s 16,477,023 common shares? Just asking.

esdperez@gmail.com



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