Premiere Horizon is publicly owned
Credit to Author: EMETERIO SD. PEREZ| Date: Thu, 03 Oct 2019 16:19:42 +0000
Alsons Consolidated Resources Inc. (ACR) reported in a public ownership report (POR) that as of Sept. 30, 2019, the public investors owned 1,259,851,996 ACR common shares, which were equivalent to 20.025 percent of 6,291,500,000 issued and outstanding common shares.
Alsons listed in said POR three principal or substantial stockholders: Alsons Corp., 2,592,524,072 ACR common shares, or 41.21 percent; Alsons Power Holdings Corp., 1,249,999,599 ACR common shares, or 19.87 percent; and Alsons Dev’t. & Investment Corp., 1,188,524,026 ACR common shares, or 18.89 percent.
The POR also showed the individual ownership of Alsons’ 11 directors as follows: Tomas I. Alcantara, a nominal share; Alejandro I. Alcantara, Arturo B. Diago Jr., Tirso G. Santillan Jr., Ramon T. Diokno, Conrado C. Alcantara, and Jacinto C. Gabino Jr. and Editha I. Alcantra held one common share each.
Three of ACS’ directors directly owned 100 common shares each, namely, Honorio Poblador 3rd, Jose Ben Laraya and Thomas G. Aquino.
At ACR shares’ closing price of P1.29 each, the public stockholders, who owned 1,259,851,996 common shares, would have been richer in paper by P1,625,209,074.84.
On Oct. 2, 2019, ACR opened trading at P1.29; hit a high of P1.30; fell to a low of P1.29; and closed at P1.29. It peaked at 30-day high of P1.34 and fell to a month’s low of P1.29.
Compensation. Premiere Horizon Alliance Corp. (PHA) will hold at 3 p.m. on Oct. 24, 2019 its annual stockholders’ meeting. The stockholders, particularly the public among them, should read the company’s definitive information statement (DIS), which, among other items, includes the compensation of their top executives.
Said DIS would surprise the public because it is not often that they would find the chairman of PHA’s nine-person board individualize his pays and perks, and those of the other top executives.
As board chairman, president and chief executive officer, Augusto C. Serafica received annually P5.18 million in each of the last four years — that is from 2016 to 2019.
Raul Ma. F. Anonas is executive vice president and chief operating officer. He was paid P3.51million in 2016; P3.60 million in 2017; and P3.78 million in 2018. In 2019, the company estimated his pays and perks at P3.78 million, the same amount it paid him in 2018.
Manolo B. Tuason is one of three senior vice presidents of Premiere Alliance. As the company’s chief operating officer at the same time, he received yearly pays and perks of P2.47 million in 2016; P2.50 million in 2017; and P2.66 million in 2018; and P3.25 million in 2019.
PHA’s other execs. Ricardo Jose S. Consunji 3rd is also an SVP in charge of operations. From 2016 to 2018, he was paid a yearly compensation of P3.822 million, the same pays and perks he would receive in 2019.
As PHA’s SVP, Andres A. del Rosario is the company’s treasurer. His annual compensations were P2.47 million in 2016; P2.50 million in 2017; and P1.68 million in 2018. In 2019, he would have received P3.25 million.
As vice president of PHA, Ana Liza G. Aquino got an annual compensation of P1.56 million in 2016; P1.60 million in 2017; and P1.68 million in 2018. In 2019, she would have been paid P2.47 million.
Joseph Jeeben R. Segui is also a PHA vice president but is listed as assistant vice president on the website of the Philippine Stock Exchange (PSE). As VP, he received P1.71 million in 2018 and would have been paid P2.34 million in 2019.
Premiere Alliance reported in its DIS having paid the company’s nine directors yearly pays and perks of P1,299,999 in 2018. It estimated at P1,285,522 their annual compensation for 2019.
Directors of companies whose either common or preferred shares were listed on the Philippine Stock Exchange (PSE) should be paid “reasonable per diem (an average of P25,000 per meeting for each director) for their attendance at each board meeting”.
As of June 30, 2019, PHA attributed to its public stockholders 1,671,471,913 common shares, or 83.97 percent of 1,990,480,889 PHA common shares.
Stockholders. Premiere Horizon has 1,990,480,889 outstanding common shares of which the public stockholders owned 1,671,471,913 PHA common shares, or 83.97 percent, as of June 30, 2019. The company’s nine directors combined for direct ownership of 167,517,169 PHA common shares and indirectly owned 150,791,807 PHA common shares for total holdings of 218,308,976 PHA common shares, or 16.62 percent.
Of the five PHA officers, only Manolo B. Tuason indirectly held 700,000 PHA common shares, or 0.04 percent. When added, the public owned 1,671,471,913 PHA common shares plus the board’s ownership of 318,308,976 plus Tuason’s indirectly owned 700,000 PHA common shares equals 1,990,480,889 PHA common shares, which is the number of outstanding common shares of Premiere Horizon.
On Oct. 2, 2019, PHA common shares opened trading at P0.55, which was also their high; fell to a low of P0.53 and closed the day’s session at P0.53. The stock peaked at 30-day high of P0.65 and fell to a month’s low of P0.46.
In its DIS, Premiere Horizon said Serafica owned directly and indirectly 116,570,001 PHA common shares. At the stock’s close of P0.53, his total ownership would have market value of P61,782,100.53. At the same closing price, public stockholders would be rich in paper by P885,880,113.89.
Do the public really own those PHA common shares? Just asking.
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