PART II – OPERATIONAL AND FINANCIAL INFORMATIONITEM 5. MARKET FOR ISSUER’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS(1) Market Information:The Registrant’s common shares are traded in the Philippine Stock Exchange, Inc. The high and lowsales prices for each quarter within the last two (2) fiscal years are as follows:Market price as of April 12, 2005 close at P48.50 per share<strong>2004</strong> LOW HIGH1 st Quarter 36.00 43.002 nd Quarter 38.00 44.503 rd Quarter 39.00 43.004 th Quarter 42.50 52.002003 LOW HIGH1 st Quarter 21.50 29.002 nd Quarter 22.75 37.503 rd Quarter 30.50 36.004 th Quarter 32.00 37.00(2) HoldersNumber of Holders of Each Class of Common SecurityTitle of each Class as of December 31, <strong>2004</strong>Common Shares 16,577Top 20 Stockholders as of December 31, <strong>2004</strong>Name of Record No. of Shares held % to TotalPDC Nominee Corp. – Filipino 259,890,038 35.75%Equitable Development Corp. 80,163,768 11.03%EBC Investments, Inc. 78,807,098 10.84%PDC Nominee Corp. – Non Filipino 55,507,528 7.64%Trans Middle East Philippines Equities, Inc. 51,827,640 7.13%Equity Development Corp. 45,115,413 6.21%Social Security System 28,105,362 3.90%K & L Holding Corp. 22,869,200 3.10%Equitable Bank Foundation, Inc. 7,200,077 1.00%Antonio Go 4,878,645 0.70%John C. B. Go 4,619,964 0.60%Ernest Lee Go 4,309,395 0.60%Shoemart, Inc. 3,883,600 0.50%Peter Go Pailian 2,841,397 0.40%Equitable PCI Bank Trust Account no.103-77868-0 1,981,680 0.30%Catalina C. Salazar 1,936,860 0.30%Antonio C. Chua 1,455,417 0.20%Edilberto S. Narciso 1,410,708 0.20%Margaret S. Go 1,364,038 0.20%DHS Investments 1,260,933 0.20%14
(3) Dividends Declared For the Last Two (2) Years:a) There were no cash and stock dividends on common shares declared in 2003 and <strong>2004</strong>On January 18, 2005, the bank’s BOD approved the declaration of cash dividend at the rate of sixtycentavos (P0.60) per share or P436.20 million. Such declaration was approved by BSP on April 1,2005.b) Other than the statutory restrictions on declaration of cash dividends, i.e., approval by at leastmajority of the Board of Directors, availability of unrestricted retained earnings and prior writtenapproval of the BSP, there are no other restrictions that limit the payment of dividends on commonshares of stock of the Registrant.(4) Recent Sales of Unregistered or Exempt Securities including Recent Issuance of Securities Constitutingan Exempt Transaction (within the past three (3) years)Title of Securities Sold: US$200.0 million Subordinated Debt Eligible as Tier 2US$130 million TrancheAmount:US$130,000,000.00Date of Sale/Launch: Date May 16, 2003Joint Lead Managers:Deutsche Bank AG/UBS WarburgSole Book-runner :UBS WarburgTotal Fees/Commission:US$1,495,000.00Offer Price: 98.733%US$70 million TrancheAmount:US$70,000,000.00Date of Sale/Launch Date: May 16, 2003Sole Book-runner/Lead Manager:UBS WarburgTotal Fees/Commission:US$350,000.00Offer Price: 101.51%Title of Securities Sold: US$100.0 million 6.50% Notes Due Feb. 19, 2008Amount:US$100,000,000.00Date of Sales/Launch Date: February 18, 2005Joint Bookrunner and Joint Lead Managers: HSBC/JPMorganTotal Fees/Commissions:US$1,070,000Offer Price: 99.330%Redemption for Taxation ReasonsThe Bank may redeem the Notes in whole but not in part at a redemption price equal to 100% of theprincipal amount of the Notes together with accrued and unpaid interest to the date fixed for redemptionupon the occurrence of certain changes affecting taxation in the Philippines, as more particularlyspecified in “Terms and Conditions of the Notes-Redemption and Purchase – Redemption for taxationreasons”.Exemption for Registration ClaimedThe sale and distribution of the securities is exempt from the registration requirements under theSecurities Regulation Code because they were distributed outside the Philippines and by a bank dulylicensed by the BSP. Section 8.1 and 9.1 of the SRC exempt from the registration requirementsecurities sold or distributed outside the Philippines and/or issued by a bank.15
- Page 6: The Bank’s extensive distribution
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Changes in the allowance for probab
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and claims of holders of all classe
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2004 2003Due WithinOne YearDue Beyo
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GroupParent Company2004 2003 2004 2
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(As restated -Note 2)(As restated -
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These segments are the basis on whi
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Percent of past due non-DOSRI accou
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eceived SPV Notes amounting to P=2.
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Equitable Venture Capital Corp.Equi