RFM secures regulatory approval for property dividend declarationJoann Santiago

August 17, 2012 11:18 pm 

MANILA, Aug. 17 — RFM Corporation got the approval of the Securities and Exchange Commission (SEC) for the declaration of property dividends from Philtown Properties, Inc.’s common shares.

In a disclosure by the Philippine Stock Exchange (PSE) Friday, RFM said it will issue 41,042,080 common shares at a price of P3.4937 apiece.

RFM has requested for the issuance of 41,431,346 common shares but the SEC slashed it “after deducting the fractional shares which will remain with the Corporation.”

Record date for the issuance was on July 11, 2012 and issue date is on September 7, 2012.

“…Please note that the Issue Date had to be held in abeyance pending our receipt of the SEC Certificate of Filing of Notice of Property Dividend Declaration, a copy of which was received only on Aug. 13, 2012,” the disclosure said.

Stockholders qualified to receive the property dividends are those who own at least 77 shares as of July 11 this year. (PNA)

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