It’s quite hard to find a comprehensive prospectus of stock shares in the Philippine Stock Market (PSE) particularly, for the Preferred Shares. Here’s a good description of the features for the AYALA CORPORATION PREFERRED CLASS “A” SHARES (ACPA);
• Issue price: Php500.00 per share
• Issue Date: 25-Nov-2008
• Dividend Rate is fixed at 8.88% (of the issue price) per annum.
• Dividends will only be distributed to shareholders if and when the company’s Board of Directors decides to declare it. The dividends, though, are cumulative.
• The Dividends will be paid quarterly in arrears on the last day of each 3-month Dividend Period (Dividend Payment Date) of February, May, August, and November of each year.
• The Shares are redeemable, as and if declared by the Issuer’s Board, on the fifth anniversary from the Listing Date (Optional Redemption Date) at a price equal to the Issue Price plus accrued and unpaid dividends for all dividend periods up to the Redemption Date.
• If the Shares are not redeemed on the fifth year from the Listing Date, the dividend rate will be adjusted to the higher of the Dividend Rate, or the 10-year Fixed Rate Treasury Note benchmark yields as displayed on the “PDST-R2″ screen of the PDEX page of Bloomberg at approximately 4:15 p.m. for the date corresponding the Optional Redemption Date, plus a spread of 0.0088 or 88 bps.
• Issue Date: 25-Nov-2008
• Dividend Rate is fixed at 8.88% (of the issue price) per annum.
• Dividends will only be distributed to shareholders if and when the company’s Board of Directors decides to declare it. The dividends, though, are cumulative.
• The Dividends will be paid quarterly in arrears on the last day of each 3-month Dividend Period (Dividend Payment Date) of February, May, August, and November of each year.
• The Shares are redeemable, as and if declared by the Issuer’s Board, on the fifth anniversary from the Listing Date (Optional Redemption Date) at a price equal to the Issue Price plus accrued and unpaid dividends for all dividend periods up to the Redemption Date.
• If the Shares are not redeemed on the fifth year from the Listing Date, the dividend rate will be adjusted to the higher of the Dividend Rate, or the 10-year Fixed Rate Treasury Note benchmark yields as displayed on the “PDST-R2″ screen of the PDEX page of Bloomberg at approximately 4:15 p.m. for the date corresponding the Optional Redemption Date, plus a spread of 0.0088 or 88 bps.
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