MANILA, PHILIPPINES – The Philippine Stock Exchange, Inc. (PSE) will hold its annual stockholders’ meeting (ASM) on May 2, 2015, 8:00 a.m., at Pavilions A and B of Wack Wack Golf and Country Club in Mandaluyong City.
Items in the ASM agenda include the proposed increase in PSE’s stake in the Philippine Dealing Systems Holdings Corp., the proposed Employee Stock Purchase Plan and the election of Directors. The PSE’s Nominations and Elections Committee released the official list of candidates on March 26.
Stockholders who cannot attend the meeting or vote in person may submit a signed proxy form and/or Secretary’s Certificate to the Exchange’s Corporate Secretary on or before 5:00 p.m. of April 22, 2015. Validation of proxies will be on April 23, 2015 at 9:00 a.m.
The PSE earlier commended the leadership of President Benigno S. Aquino III for helping increase investor confidence in the economy and contribute to the rise of the PSEi to the 8,000 level.
To celebrate the PSEi’s climb to 8,000, the Exchange had a special bell ringing ceremony led by President Aquino. Also in attendance were key government officials and listed company executives.
The PSEi closed above 8,000 mark for the first time on April 6, 2015. It has since reached an all-time record high of 8,127.48 on April 10.
“At the 8,000 point level, the index is giving returns just this year of already more than 10 percent. It is interesting to note that the unprecedented ascent to 8,000 comes with other remarkable market indicators,” said PSE Chairman Jose T. Pardo in his welcome remarks during the event.
Pardo cited the brisk trading activity in the first quarter of 2015 which soared by 40 percent from the same period a year ago.
He also mentioned that in the first three months of the year, total market capitalization of listed firms rose by 18 percent to P14.98 trillion from the same period in 2014 and that foreign funds registered a net buying of P48.87 billion in the January to March period, a 182 percent increase year-on-year.
There was also an increase in local investor participation as they accounted for 53 percent of trading activity in the first quarter of the year.
“This can only mean one thing, confidence in the economy under your leadership, Mr. President”, Pardo stated. – BusinessNewsAsia.com