Stock News 2013: Vista Land releases more shares into the market

English: A Benchmark For Stocks and Shares. A bench and the stocks, which two felons could share, on Sheriff Hutton village green (Photo credit: Wikipedia)

Property Developer Vista Land & Lifescapes, Inc. boosted the number of stocks for trading after selling all of its treasury shares for roughly P636.07 million, the Villar-led company said in a disclosure on Friday.

The transaction involved a total of 133.91 million shares sold at P4.75 apiece.

The sale increased the company’s outstanding and common shares to 8,538,740,614 from 8,404,830,614.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are non-voting, non-outstanding, and not included in dividend issuances.

A Vista Land officer said on Thursday that the company decided to sell all its treasury shares to take advantage of perceived big demand and to boost its liquidity.

http://www.bworldonline.com/content.php?section=Corporate&title=Vista-Land-releases-more-shares-into-the-market&id=63768

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Stock News 2012: Vista Land declares special cash dividend

Publicly-listed Vista Land and Lifescapes, Inc., the country’s largest homebuilder, has declared a special cash dividend in the amount of four centavos per share.

Shortly after Vista Land’s annual stockholder’s meeting on June 15, 2012, the company’s Board of Directors held an organizational meeting during which it approved the declaration of a special cash dividend in an amount equal to approximately 10% of the company’s consolidated net income for the year ended Dec. 31, 2011.

The record date for the special dividend is on July 2, 2012, while the payment date will be on July 26, 2012.

Vista Land recently reported its first quarter results, announcing that the company’s net income for the first quarter of the year compared to the first quarter of 2011 rose by 22 percent to P1.060 billion from P873 million, while revenues exceeded P4 billion.

“In view of Vista Land’s excellent performance and strongly positive outlook, we are pleased to once again reward our loyal shareholders with a special cash dividend as we had done last year,” stated Manuel Paolo Villar, Vista Land’s president and chief executive officer. “This of course will be over and above the company’s regular cash dividend, which is usually formally approved during the second half of the year,” he added.

http://www.philstar.com/Article.aspx?articleId=818240&publicationSubCategoryId=66

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Stock News 2011: Pepsi-Cola set to build 2 biomass facilities

A three-way goal intersecting on electricity cost reduction, addressing power supply quality, and abating climate change risks has prompted Pepsi-Cola Products Philippines Inc. to construct its own biomass facilities, two of which are targeted for commissioning simultaneously around May or June this year.

The first two projects, according to PCPPI Commercial Director Gabby Gabinete, which will service the electricity needs of the soda company are sited in Rosario, La Union in Luzon and Cagayan de Oro in Mindanao.

“The project is expected to significantly reduce the company’s energy costs, address the power shortage in the country and increasing cost of fuel, and at the same time, promote a carbon emission-free business environment,” the company has noted further in a statement.

The La Union facility, he said, would be able to yield 1.0-megawatt capacity for the company’s use and it commands an investment of $1.4 million.

http://www.mb.com.ph/node/298389/pep

Stock News 2010: Russian miner buys stake in Mindoro project

Image by The Library of Congress via Flickr

RUSSIAN STEELMAKER OAO Severstal has acquired a 21.7-percent stake in Norwegian miner Intex Resources ASA, a company whose main project is a nickel mine in Mindoro.

The deal, valued at $12.5 million and made through Severstal’s unit Lybica Holding BV, is part of the Russian company’s “diversification strategy into new commodities,” said Boris Granovsky, head of Severstal’s Strategy and Business Development, in a statement posted on the company’s website.

Severstal and Intex said in separate statements that the Russian miner also intended to make a voluntary offer to acquire the remaining Intex shares it did not own.

However, Intex said its board observed that Severstal’s standing offer did not match the value of the Norwegian miner’s mineral assets.

Based on 91.7 million Intex shares outstanding, the company said the proposal valued its equity at approximately $58.3 million.

Intex CEO Erlend Grimstead said earlier that the deposit has a total resource of 2.6 million tons of contained nickel, which lends itself well to processing and is very cost-efficient. Annual production at Mindoro is expected to start in three to four years and is estimated that it will be at 63,000 tons a year.

http://business.inquirer.net/money/topstories/view/20100922-293766/Russian-miner-buys-stake-in-Mindoro-project

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