Key Developments: Petron Corp (PCOR.PS)
14.30PHP
19 Jun 2013
Php0.10 (+0.70%)
Php14.20
Php14.38
Php14.42
Php14.16
7,306,600
5,505,098
Php16.30
Php9.70
Latest Key Developments (Source: Significant Developments)
Petron Corp Announces Board Changes
Petron Corp announced that Mr. Lubin B. Nepomuceno was elected director and President of the Company and member of the Executive and Compensation Committees. Mr. Nepomuceno will serve as director for the remaining portion of the term of Mr. Ferdinand K. Constantino who resigned as director but was appointed as advisor to the Compensation and Audit Committees. Mr. Lubin B. Nepomuceno was elected director and President of the Company and member of the Executive and Compensation Committees. Mr. Nepomuceno will serve as director for the remaining portion of the term of Mr. Ferdinand K. Constantino who resigned as director but was appointed as advisor to the Compensation and Audit Committees. Full Article
Petron Corp Declares Cash Dividends on Preferred Shares For Q4 2012 And Q1 2013
Petron Corporation announced a cash dividend of PHP 2.382 per share for preferred shareholders for the fourth quarter of fiscal year 2012, payable on December 5, 2012, with record date on November 16, 2012. The Company also announced the cash dividend of PHP 2.382 per share for preferred shareholders for the first quarter of fiscal year 2013, payable on March 5, 2013, and the record date is February 20, 2013. Full Article
Petron Corporation Completes Acquisition Of Down-Stream Oil Business Of Exxon Mobil In Malaysia
Petron Corporation announced that Petron Oil & Gas International Sdn Bhd, a subsidiary of the Company, has completed the acquisition of 65% of Esso Malaysia Berhad EMB, a publicly listed company in Malaysia, 100% of ExxonMobil Malaysia Sdn Bhd, and 100% of ExxonMobil Borneo Sdn Bhd, for an aggregate purchase price of USD577.3 Million. Full Article
Petron Corporation Announces Unconditional Mandatory Take-Over Offer for Esso Malaysia Berhad
Petron Corporation announced that San Miguel Corporation (SMC) entered into a sale and purchase agreement with ExxonMobil International Holdings Inc to acquire 175,500,000 ordinary shares of MYR 0.5 each, or 65% stake, in Esso Malaysia Berhad (EMB), for a cash consideration of USD 195,123,934.75. On January 25, 2012, SMC exercised its right under the agreement and nominated Petron Oil & Gas International Sdn Bhd (the Offeror) to accept the transfer of EMB shares. The Offeror is an indirect wholly owned subsidiary of the Company which is a 68.26%-owned subsidiary of SMC. The Offeror has then become obliged to extend a mandatory take-over offer to acquire the remaining 94.5 million shares representing 35% stake of EMB not already owned by the Offeror and parties acting in concert including SMC, the Company and Petron Oil & Gas Mauritius Ltd, a wholly owned subsidiary of the Company and holding company of the Offeror. The cash offer price is MYR 3.59 per share. EMB is engaged in the manufacturing and marketing of petroleum products. Full Article
Petron Corporation Announces Cash Dividends On Preferred Shares For Q2 And Q3 2012 And Common Shares
Petron Corporation announced a cash dividend of PHP 2.382 per share for preferred shareholders for the second quarter of fiscal year 2012, payable on June 5, 2012, with record date on May 18, 2012. The Company also announced the cash dividend of PHP 2.382 per share for preferred shareholders for the third quarter of fiscal year 2012, payable on September 5, 2012, and the record date is August 16, 2012. The Company also declared a cash dividend for common shares at PHP 0.10 each payable on April 24, 2012, and the record date is April 2, 2012. Full Article
Petron Corporation Completes The Offer And Issuance Of Fixed Rate Corporate Notes
Petron Corporation announced that it has completed on October 28, 2011, the offer and issuance of Fixed Rate Corporate Notes (FXCNs) in the aggregate principal amount of PHP 3.6 billion. The FXCNs were issued to primary institutional investors. ING Bank N.V., Manila Branch acted as Arranger and Bookrunner for the transaction. Full Article
Petron Corporation Declares Q4 2011 And Q1 2012 Cash Dividends For Preferred Shareholders
Petron Corporation announced a cash dividend of PHP 2.382 per share for preferred shareholders for the fourth quarter of fiscal 2011 with record date of November 16, 2011 and payment date of December 5, 2011. In addition, it also announced a cash dividend for the first half of fiscal 2012 of PHP 2.382 per share for preferred shareholders. The record date is February 21, 2012 and the payment date is March 5, 2012. Full Article
Philippines Psalm Awards Fuel Oil Contracts To Petron Corporation, Royal Dutch Shell Plc's Unit-DJ
Dow Jones reported that the Philippines Power Sector Assets & Liabilities Management Corp. (Psalm) has awarded Petron Corporation and the local unit of Royal Dutch Shell Plc contracts for the supply of industrial fuel oil. Pilipinas Shell was awarded a PHP5.27 billion contract for the supply of 150,000 kiloliters of fuel oil for its Malaya Thermal power plant. The agency also awarded contracts valued at PHP3.07 billion to Petron for the supply of a combined 87,000 kiloliters of fuel oil for three power plants: Power Barge 84, Southern Philippines Power, and Western Mindanao Power. Full Article
Petron Corporation Announces Record And Payment Date Of Dividend For Preferred Shares
Petron Corporation announced a PHP 2.382 cash dividend for Preferred Shareholders as of August 10, 2011 and with payment date of September 5, 2011. Full Article
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