Key Developments: Manila Electric Co (MER.PS)

MER.PS on Philippine Stock Exchange

299.80PHP
3 Aug 2015
Change (% chg)

Php0.80 (+0.27%)
Prev Close
Php299.00
Open
Php299.00
Day's High
Php301.00
Day's Low
Php297.60
Volume
436,320
Avg. Vol
447,431
52-wk High
Php302.00
52-wk Low
Php245.82

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Latest Key Developments (Source: Significant Developments)

Manila Electric Co declares regular dividend
Tuesday, 28 Jul 2015 12:20am EDT 

Manila Electric Co:Declares regular dividend amounting to 5.164 Philippine pesos per common share.Dividend of record date is Aug. 26.Payable on Sept.18.  Full Article

Manila Electric Co declares special dividend
Tuesday, 28 Jul 2015 12:09am EDT 

Manila Electric Co:Declares special dividend amounting to 1.596 Philippine pesos per share.Dividend of record date is Aug. 26.Payable on Sept.18.  Full Article

Manila Electric Co approves declaration of interim and special dividend
Sunday, 27 Jul 2014 08:00pm EDT 

Manila Electric Co:Approves declaration of interim and special dividend amounting to 5.91 Philippine pesos per share.To all common stockholders of record as at Aug. 25.Payable on Sept.18.  Full Article

Manila Electric Co announces declaration of cash dividend
Monday, 17 Mar 2014 01:43am EDT 

Manila Electric Co:Approved the declaration of Special dividend of 6.45 Philippine pesos.Record Date is on Apr 15.Payment Date is on May 8.  Full Article

Electricity Generating PCL Announces Subsidiary's Partnership Agreement with Subsidiary of Manila Electric Company
Sunday, 17 Nov 2013 09:00pm EST 

Electricity Generating PCL announced that its wholly owned subsidiary, New Growth B.V. (New Growth) and Meralco PowerGen Corporation (MPG), a wholly owned subsidiary of Manila Electric Company entered into a partnership agreement for the proposal to develop a new MW (approximately) coal fired power plant project in Mauban, Quezon, the Philippines. The new plant will be located in adjacent to the existing 460 MW Quezon Power facility and will utilize shared services from the existing plant. The new plant is expected to be held by New Growth and MPG in the proportion of 49% and 51% respectively.  Full Article

Manila Electric Company's Meralco PowerGen Corp Buys 20% In Power Generation Arm Of GT Capital Holdings Inc-Reuters
Tuesday, 8 Oct 2013 11:50am EDT 

Reuters reported that Manila Electric Company said that its wholly owned unit, Meralco PowerGen Corp, has agreed to buy 20% of the power generation arm of conglomerate GT Capital Holdings Inc. Meralco said in a stock exchange filing the deal involving First Metro Investment Corp's (FMIC) 20% stake in Global Business Power Corp is subject to unspecified closing conditions. FMIC is a unit of GT Capital, owned by tycoon George Ty. Global Business Power, the main electricity provider in the central Philippines, has nine power plants with a total capacity of 627 megawatts. Meralco did not disclose the acquisition cost and other terms of the deal.  Full Article

JG Summit Holdings Inc To Pay San Miguel Corp $1.65 Billion For Manila Electric Co Stake-Reuters
Tuesday, 1 Oct 2013 01:43am EDT 

Reuters reported that JG Summit Holdings Inc said on October 01, 2013 that it will buy San Miguel Corp's stake in Manila Electric Co (Meralco) for PHP72 billion ($1.65 billion), a discount of around 19% to market prices. The stake is equivalent to 27.1% of Meralco's equity and, according to current market prices, worth around $2 billion.  Full Article

San Miguel Corp Says To Sell Manila Electric Co Shares To JG Summit Holdings Inc-Reuters
Monday, 30 Sep 2013 02:51am EDT 

Reuters reported that San Miguel Corp said that on September 30, 2013 it has agreed to sell its holdings in the Philippines' power retailer Manila Electric Company (Meralco) to JG Summit Holdings Inc. It was not immediately clear if San Miguel was selling its entire 27.1% stake in Meralco. Credit Suisse was San Miguel's financial adviser for the transaction.  Full Article

Manila Electric seeks $895 mln syndicated loan for power project

MANILA, May 26 - Manila Electric Co (Meralco) said on Tuesday it expects to close a 40-billion-peso ($895 million) loan deal with a syndicate of local banks by the third quarter to finance a coal-fired power plant project.

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