Here’s another “hard-to-find” prospectus summary or description of one of the relatively actively traded preferred stocks in the Philippine Stock Market (PSE), ACPR.
• Issue Price: Php100.00 per share
• Issue Date: 21 July 2006
• Dividend Rate: 9.4578% (of the Issue Price)
• Dividends on the Shares will be payable on January, April, July, and October of each year.
• The declaration and payments of dividends on each Dividend Payment Date will be subject to the sole and absolute discretion of the Board of Directors to the extent permitted by law. The dividends, however, is cumulative.
• As and if declared by the Board, the Issuer may redeem the Preferred Shares on the fifth anniversary from the Listing Date (the Optional Redemption Date) or on any Dividend Payment Date thereafter in whole (but not in part only), at a redemption price equal to the Issue Price of the Shares plus accrued and unpaid dividend periods up to the actual redemption by the Issuer.
• If the Preferred Shares were not redeemed by the Issuer, the Dividend Rate shall be adjusted on the Optional Redemption Date to the higher of (a) the Dividend rate, or (b) the 10-year Fixed Rate Treasury Note benchmark yields as displayed on the “MART1″ page (or such successor page) of Bloomberg (or such successor electronic service provider) as of the Optional Redemption Date.
• Issue Date: 21 July 2006
• Dividend Rate: 9.4578% (of the Issue Price)
• Dividends on the Shares will be payable on January, April, July, and October of each year.
• The declaration and payments of dividends on each Dividend Payment Date will be subject to the sole and absolute discretion of the Board of Directors to the extent permitted by law. The dividends, however, is cumulative.
• As and if declared by the Board, the Issuer may redeem the Preferred Shares on the fifth anniversary from the Listing Date (the Optional Redemption Date) or on any Dividend Payment Date thereafter in whole (but not in part only), at a redemption price equal to the Issue Price of the Shares plus accrued and unpaid dividend periods up to the actual redemption by the Issuer.
• If the Preferred Shares were not redeemed by the Issuer, the Dividend Rate shall be adjusted on the Optional Redemption Date to the higher of (a) the Dividend rate, or (b) the 10-year Fixed Rate Treasury Note benchmark yields as displayed on the “MART1″ page (or such successor page) of Bloomberg (or such successor electronic service provider) as of the Optional Redemption Date.
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