The public are Basic Energy’s majority stockholders
Credit to Author: Emeterio SD. Perez| Date: Tue, 14 Jan 2020 16:21:51 +0000
PCD Nominee Corp. is the top stockholder of PXP Energy Corp. It holds 788,425,188 outstanding and fully paid PXP shares, or 40.226 percent of total shares, as of Dec. 31, 2019. Of that number, it held 595,864,728 common shares, or 30.4013 percent, for beneficial owner Philex Mining Corp., according to a public ownership report (POR) dated Sept. 30, 2019.
In the POR, PXP Energy listed 1.96 billion outstanding common shares, 30.33 percent of which it named the public as owners.
Besides Philex Mining, PXP Energy listed three other principal stockholders: Asia Link B.V., which directly owned 284,470,725 common shares, or 14.5138 percent of the total; First Pacific Co. Ltd. Group, which holds 139,954,950 common shares, or 7.1406 percent, through Artino Ltd. (10,193,136 shares or 0.52 percent), Kirtman Ltd. (66,221,981 shares or 3.33 percent) and Maxella Ltd. (64,539,833 shares or 3.29 percent); and Two Rivers Pacific Holdings Corp., which directly holds 131,224,794 common shares, or 6.6951 percent.
The POR also lists the Social Security System as directly holding, through PCD Nominee, 212,026,205 PXP common shares, or 10.8177 percent.
A general information sheet (GIS) lists PCD Nominee as record holder of 390,207,691 PXP common shares, or 19.91 percent, excluding the shares held by Philex Mining (No. 2) and the SSS (No. 4), which are shown as beneficial holders of 595,864,728 (30.40 percent) and 213,587,405 (10.09 percent) common shares, respectively.
The sheet also lists PCD Nominee held 53,859,075 PXP common shares, or 2.75 percent, as record stockholder for foreigners.
On Jan. 10, 2020, PXP common shares opened trading at P10.32, hit a high of P10.70, fell to a low of P10.20 and closed the session at P10.22. The stock peaked to a 30-day high of P11.60 and dropped to a 30-day low of P8.13.
* * *
A POR dated Dec. 31, 2019 showed Philippine Savings Bank (PSBank or PSB) with 383,109,416 outstanding common shares. Of this number, the Metropolitan Bank & Trust Co. directly holds 338,610,090 common shares, or 88.38 percent of the outstanding; and the public, 40,496,757 common shares, or 10.57 percent.
In the POR posted on the Philippine Stock Exchange website on Jan. 10, 2020, PSBank classified 342,612,659 common shares as the “total number of non-public shares.” When computed, the bloc represented 89.429 percent of the outstanding.
As of Sept. 30, 2019, PSB reported a surplus of P20,705,000,216, which would give each stockholder P54.045. That’s not how banks such as PSBank declare dividends. Of the surplus, the bank’s nine-man board, chaired by Jose T. Pardo, an independent director prefers to give out only a little portion of its accumulated retained earnings, which is surplus for banks.
On Jan. 10, 2020, PSB common shares opened trading at P57.40, which was also their high, fell to a low of P57.05 and closed at P57.10. The stock hit a 30-day high of P58.75 and dropped to a month’s low of P57.
* * *
Basic Energy Corp. listed its public stockholders as holders of 2,410,465,915 common shares, or 86.17 percent of 2,797,392,714 outstanding common shares after its POR deducted 18 million treasury shares from 2,815,392,714 issued common shares.
Of the outstanding, Basic Energy’s 11-man board held 125,917,247 common shares, or 4.49 percent. According to the report, the company has 20 principal stockholders holding 256,754,891 common shares, or 9.15 percent.
The company named Emelinda I. Dizon as the owner of 2.5 million common shares, or 0.09 percent, and classified 386,926,799 common shares as non-public. A computation showed the bloc as equivalent to 13.832 percent.
On Jan. 10, 2020, Basic Energy common shares opened trading at P0.245, which were their high, fell to a low of P0.241 and closed the day at P0.245. The stock hit a 30-day high of P0.247 and a month’s low of P0.224.
esdperez@gmail.com