Common nominees for company directors must be identified

APUBLIC ownership report (POR) as of Dec. 31, 2017 posted on the website of the Philippine Stock Exchange on Jan. 11, 2018 listed two holding companies as principal stock - ments Corp. (MPIC).

These were: Metro Pacific Holdings Inc., with 13.223 billion MPIC common shares, or 41.93 percent of 31.511 billion outstanding common shares; and GT Capital Holdings Inc., with 4.9 billion MPIC common shares, or 15.54 percent.

Individual MPIC insiders, led by Manuel V. Pangilinan, who are all members of the company’s 15-person board, held 70.845 million MPIC common shares, or 0.22 percent. Of MPIC’s two executives, only Antonio A. Picazo, corporate secretary, is an MPIC stockholder with 301.001 common shares.

Metro Pacific credited its public stockholders with 13.316 billion MPIC common shares, or 42.26 percent.

The percentages of these hold- ings which were lifted from 99.1 percent.

When recomputed and the percentages rounded off to three decimal places, the results showed the ownership of the board at 41.964 percent; and GT Capital’s at 15.550 percent.

The same POR placed Picazo’s MPIC shares being equivalent to 0.001 percent.

The computation also showed the public as holders of MPIC shares equivalent to 42.26 percent, the same as that of MPIC’s posting.

The sum of all these holdings, - taled 31.511 billion common shares, or 100 percent, which, as of Dec. 31, 2017, represented the company’s outstanding common shares.

Meralco

Also as of Dec. 31, Manila Electric Co. (MER) reported 1.127 billion outstanding common shares, of which three principal/substantial stockholders owned 845.594 million common shares, or 75.024 percent, according to the company’s POR.

(Note. Due Diligencer’s computation was based on the totals reported in Meralco’s PSE posting. The percentage equivalents may not tally with the sums that were shortened to three decimal places.)

Meralco’s three major stockholders who owned 845.594 million MER shares, or 75.024 percent, as of Dec. 31, were Beacon Electric Asset Holdings Inc., with 394.059 million MER shares, or 34.962 percent; JG Summit Holdings Inc., 333.189 million MER shares, or 29.562 percent; and 118.345 million MER shares, or 10.5 percent.

The Lopezes, the former owners, were also listed in the same POR through their two companies stockholders.” First Philippine Holdings Corp. held 44.382 million MER shares, or 3.938 percent, while First Philippine Utilities Corp. owned 93,270 MER shares, or 0.01 percent.

On the other hand, Meralco’s public stockholders held 236.018 million MER shares, or 20.940 percent.

- ates totaled 12,526 MER shares, which were too small to show the percentage equivalent.

PLDT

Philippine Long Distance Telephone Co., which has been renamed PLDT Inc., is the listed ve-