Jadel is DNL’s majority stockholder
DEAN Ang Lao Jr. is a managing director of Chemrez Technologies Inc. (COAT), which google shows is “a manufacturer or powder coating based in the Philippines,” adding that “it has been listed on the Philippine Stock Exchange since Dec. 8, 2000 and is a member of the D&L Group of Companies. On June 9, 2006, shareholders of Corro-Coat Inc. approved the purchase of Chemrez Inc. and its biodiesel project.”
Lao bought 150,000 common shares in D&L Industries Inc. (DNL ): 50,000 at P7.41 per share on Jan. 5, 2021 and 100,000 at P7.22 per share on Jan. 6, 2021. With his additional “buys,” he increased his ownership to 3,823,577 common shares, or 0.05 percent, according to his filing.
D&L Industries had 7,142,857,990 outstanding common shares with par value of P1 that remain outstanding, according to its definitive information statement (DIS), as reported by the company’s stock transfer agent as of June 30, 2020.
DNL’s stockholders include Jadel Holdings Inc., 4,275,645,796 common shares or 59.86 percent; Smartworks Trading Co. Inc., 126,228,450 common shares or 1.77 percent; Allvee United
Inc., 95,524,564 common shares or 1.34 percent; Jadana Inc., 94,941,822 common shares or 1.33 percent; Prime Spin Inc., 84,401,296 common shares or 1.18 percent; CEE Industries Inc., 80,146,296 common shares or 1.12 percent; and Hansevian Inc., 3.76 million common shares or 0.05 percent.
On Jan. 5, 2021, DNL opened trading at P7.59, its session high, dropped to P7.39, and closed at P7.44. On Jan. 6, 2021, it opened at P7.45, hit a session high of P7.55, dropped to P7.10 and closed at P7.20.
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The public ownership report (POR) of D&L Industries Inc. (DNL) shows the seven directors’ direct and indirect ownerships totaling 188,981,037 common shares or 2.646 percent of 7,142,857,990 outstanding common shares: Ying Yong L. Lao, 98,045,720 DNL common shares or 1.373 percent; John L. Lao, 79,377,379 common shares or 1.111 percent; Alvin D. Lao, 10,568,336 common shares or 0.148 percent; Lydia BalatbatEchauz, 89,500 common shares or 0.001 percent; Mercedita S. Nolledo, 700,000 common shares or 0.0098 percent; and Felimon T. Berba, 200,002 common shares or 0.0028 percent.
Alvin Lao, DNL president and chief executive officer; Dean A. Lao Jr., Chemrez’ managing director; Lester A. Lao, managing director, DLPC/ FIC; and Vincent D. Lao, managing
director, Oleofats. They were paid total salary of P33.192 million in 2018; and salary of P38.178 million in 2019. Based on the company’s estimate, they would be paid P40.47 million in 2020.
DNL peaked at a 30-day high of P7.78 on Jan. 4, 2021 when it opened at P7.70, dropped to P7.45 and closed at P7.60. It fell to 30day low of P6.90 on Nov. 24, 2020 when it opened at P7.14, climbed to P7.14 and closed at P7.02.
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As of June 30, 2020, Philippine Bank of Communications reported in its general information sheet (GIS) 760 million authorized capital stock (ACS) consisting of only common shares with par value of P25. Of the authorized, the bank said 402 stockholders paid for 480,645,163 common shares or 63.243 percent of ACS.
Non-Filipinos include 24 foreigners who owned their paid-up stock. They are from the United States, Great Britain, British Virgin Islands, India, New Zealand, Russian and United Kingdom with 17,193,348 PBCom common shares or 3.577 percent. Of the 24 aliens, 16 Chinese invested in 13,683 common shares or 0.003 percent. The 2020 GIS paid 14 directors P9.585 million in 2019.
As of Dec. 31, 2020, PBCom’s POR showed the bank’s public ownership of 170,181,178 common shares, or 34.41 percent.
PBCom peaked at a 30-day high of P23 on Dec. 7, 2020 when it opened at P20.70, which was its low, and closed at P22.90. It fell to
30-day low of P16.50 on Oct. 19, 2020 when it opened at P16.76, which was its session high, and closed at 30-day and session low of P16.50.
***** Pilipinas Shell Petroleum Corp. (SHLPH) had 1,613,444,202 outstanding common shares with par value of P1, according to the Philippine Stock Exchange (PSE). As of Sept. 30, 2020, its POR listed Reynaldo P. Abilio as direct holder of 6,000 common shares or 0.0004 percent of outstanding.
In said POR, Pilipinas Shell had 67,614,089 treasury common shares or 4.022 percent of 1,681,058,291 issued common shares.
Pilipinas Shell listed two principal stockholders in its POR. They were Shell Overseas Investments B.B. as direct holder of 890,860,233 common shares or 55.21 percent, and The Insular Life Assurance Co. Ltd. as direct owner of 265,465,395 common shares or 16.45 percent for total holdings of 1,156,325,628 common shares or 71.66 percent of outstanding.
Pilipinas Shell peaked at a 30day high of P23.30 on Dec. 9, 2020 when it opened at P22.30,dropped to P22.30, its session low, and closed at P23. It fell to a 30-day low of P17.60 on Nov. 19, 2020 when it opened at P17.90, hit a session high of P18 and closed at P17.84.
Will SHLPH increase its outstanding? Just asking.
SAN FRANCISCO: Lauren Foundos has excelled at just about everything she has put her mind to, from college sports and Wall Street trading to her Forte startup that takes workouts online.
Being a woman in the overwhelmingly male world of venture capital was still a barrier — but, like many other female entrepreneurs, she only worked harder to succeed.
“In some cases, before I even spoke, they were asking me if I would step down as chief executive,” Foundos said of encounters with venture capitalists. “This was a whole new level.” Men would speak past her in meetings, discussing whether she could emotionally handle the job as if she wasn’t there, or wondering out loud who would take care of the books.
“When that happens, I tell them I am right here,” Foundos said. “I am the finance guy; I worked at big banks for more than 10 years. I’ve been the best at everything I have ever gone into.”
Startups can only get by so long relying on friends, family or savings before eventually needing to find investors willing to put money into young companies in exchange for a stake in the business.
Money invested in startups in their earliest days, perhaps when they are no more than ideas or prototypes, is called “seed” funding.
When it comes to getting backing for a startup it is about trust, and that seems to be lacking when it comes to women entrepreneurs, according to Foundos and others interviewed by AFP.
“I don’t think women need to be given things,” Foundos said of venture capital backing. “But I think they are not seeing the same amount of deals.”
Forte has grown quickly as the pandemic has gyms and fitness centers scrambling to provide online sessions for members.
Foundos brought on a “righthand man,” a male partner with a British accent, to provide a more traditional face to potential investors and increase the odds of getting funding.
She has taken to asking venture capitalists she meets if they have invested in women-led companies before, and the answer has always been “no.”
Sex for funding?
A paltry few percent of venture capital money goes to female-led startups in the United States, according to Allyson Kapin, General Partner at the W Fund and founder of Women Who Tech (WWT).
Being sexually propositioned in return for funding, or even an introduction to venture capitalists, is common for women founders of startups, according to a recent WWT survey.
Some 44 percent of female founders surveyed told of harassment such as sexual slurs or unwanted physical contact while seeking funding.
And while last year set a record for venture capital funding, backing for women-led startups plunged despite data that such companies actually deliver better return-on-investment, according to Kapin.
“This isn’t about altruism or charity, this is about making a (load) of money,” Kapin said of backing women-led startups.
Bar set higher
Prospects for funding get even more dismal for women of color.
Black entrepreneur Fonta Gilliam worked overseas with financial institutions for the US State Department before creating social banking startup Invest Sou Sou.
Gilliam took the idea of village savings circles she had seen thrive in places such as Africa and built it into a free mobile app, adding artificial intelligence and partnering with financial institutions.
She created a Sou Sou prototype and started bringing in revenue to show it could make money, but still found it tougher to get funding than male peers.
“We always have to over-perform and overcompensate,” Gilliam said. “Where startups run by men would get believed, we’d have to prove it 10 times over.”
Gilliam got insultingly low valuations for her startup, some so predatory that she walked away.
“We are still lean and mean bootstrapping, but I think it is going to pay off in the end,” Gilliam said.
“One thing about women-owned, black-owned startups: because there is such a high bar to get support our businesses tend to be scrappier, stronger and more resilient.”
Privileged ‘pipeline’
Women-led startups tend to be on the outside of the “pipeline” that unofficially funnels entrepreneurs to venture capitalists, according to Kapin and others.
In Silicon Valley, that channel is open to male, white tech entrepreneurs from select universities such as Stanford.
“The pipeline becomes filled with people from the same universities; from similar backgrounds,” Kapin said.
“It is not representative of the world, which is problematic because you are trying to solve the world’s problems through the lens of very few people — mostly white men.”
Investors competing for gems in the frothy tech startup scrum are missing out on a wealth of returns, and stability, to be had by investing in neglected women founders, according to Caroline Lewis, a managing partner in Rogue Women’s Fund, which does just that.
“At the end of the day, it is the right thing to do and it is a good thing to do,” Lewis said.