Lucio Tan-owned Trustmark holds 8.93-B PAL common shares

AS of Dec. 31. 2019, the public stockholders of PAL Holdings Inc. owned 1 , 1 9 8 , 9 9 2 , 072 common shares, which represent 10.33 percent of 11,610,978,242 PAL common shares, according to the company’s public ownership report (POR), which also listed two principal stockholders. Trustmark Holdings Corp. directly held 8,930,733,170 PAL common shares, or 3.25 percent, and ANA Holdings Inc., direct owner of 1,103,042,933 PAL common shares, or 9.5 percent of outstanding. The two stockholders, which are also referred to as “substantial stockholders,” combined for direct ownership of 10,033,776,103 PAL common shares, or 86.42 percent.

As PAL Holdings’ affiliate, Cosmic Holdings Corp. directly owned 378,206,591 PAL common shares, or 3.25 percent.

The website of the Philippine Stock Exchange (PSE) shows PAL, which stands for Philippine Airlines, with 11,610,978,242 outstanding shares, the same as listed in the POR. Of the outstanding, 10,502,320,021 common shares, or 90.452 percent, are listed, and 10,524,253,257 common shares are classified as issued.

As of Jan. 31, 2018, the last POR available on the PSE website, PAL Holdings had 11,610,231,157 outstanding common shares but listed only Trustmark as direct holder of 10,033,776,103 common shares, or 86.42 percent of 11,610,231,157 outstanding common shares. As in PAL Holdings’ POR as of Dec. 31, 2019, the company’s POR two years ago also showed it having 25,015 treasury common shares, which PAL Holdings has not retired.

The public, according to PAL Holdings’ POR two years ago,

owned 1,198,245,313 common shares, or 10.32 percent of outstanding.

On Feb. 5, 2020, PAL common shares opened trading at P7.15, hit a high of P7.40, dropped to a low of P7, and closed the session at P7.35. The stock hit a 30-day high of P7.98 and fell to a 30-day low of P6.95.

***** Metropolitan Management Corp. ( MMC) spent P5,500 in its acquisition of 2,000 shares in Republic Glass Holdings Corp. (REG) on Jan. 30, 2020. The acquisition increased the company’s ownership of MMC common shares to 52,762,800 common shares, or 7.736 percent, from 52.76 million common shares, or 7.735 percent.

In a filing, MMC’s acquisition of 2,000 REG common shares translates to P2.75 each as Republic Glass common shares traded at P2.75 throughout the day’s session. On Feb. 4, 2020, REG common shares opened trading also at P2.75, which was their high during the session, dropped to a low of P2.72 and closed at its low of P2.72. The stock peaked at a P30-day high of P3.12 and fell to a 30-day low of P2.36.

Incidentally, MMC was the only buyer during the day’s session on Jan. 30, 2020 when 2,000 REG common shares were traded.

A POR as of Dec. 31, 2019 listed Gervel Inc. as the only principal stockholder with direct ownership of 462,417,595 REG common shares, or 67.79 percent of 682,065,632 outstanding common shares. At P2.75 per REG common share, Gervel’s REG holdings had paper value of P1,271,648,386.25.

Of course, Gervel is not selling. If it does, it would lose majority ownership of Republic Glass.

By the way, Republic Glass reported in its POR having issued 738,314,299 common shares of which 56,248,667 were treasury shares, leaving 682,065,632 REG common shares as outstanding.

*****

A general information sheet ( GIS) listed 2,048 Filipinos and 14 foreigners as holders of 5,369,965,199 outstanding shares of Arthaland Corp. ( ALCO). The GIS also listed ALCO’s authorized capital stock of 16,418,095,199 shares divided into 16,368,095,199 common shares with par value of P0.18 each and 50 million preferred shares with par value of P1 each.

Of 2,048 Filipinos, 1,939 owned 4,932,296,706 common shares, or 91.89 percent; one held 12.5 million preferred A shares; 11 owned 19,809,910 preferred B shares; and 97 owned 20 million preferred C shares. Of the 14 foreigners who held 385,358,583 shares, 13 owned 385,168,493 common shares while only one among them owned 190,090 preferred B shares.

CPG Holdings Inc., which the GIS classified as Filipino, held two blocs of common shares – 1,942,619,910 and 75 million, for total holdings of 2,017,619,910 common shares, or 37.94 percent; AO Capital Holdings Inc. placed second with 1,383,730,000 common shares, or 26.02 percent. PCD Nominee Corp. was reported as record holder for Filipino beneficial owners of 1,358,097,632 common shares, or 25.54 percent, and for foreigners 307,079,318 common shares, or 5.77 percent. The other ALCO stockholders included Edimax Ltd. of the British Virgin Islands with 296.46 million common shares, or 5.57 percent; Elite Holdings Inc., Filipino, 119,809,996 common shares, or 2.25 percent; and Tina Kent, Filipino, 25 million common shares, or 0.45 percent.

On Feb. 5, 2020, ALCO common shares opened trading at P0.79, hit a high of P0.80, dropped to a low of P0.78, and closed at their high of P0.80. The stock peaked at a 30-day high of P0.90 and fell to a 30-day low of P0.76 on Feb. 3, 2020.

Does PAL, the airline, continue to fly high? Just asking.