In a meeting held today, the Board of Abacore Capital Holdings, Inc. set the record date and payment date of the 2nd tranche of the previously announced 20% cash dividend as follows:
Second tranche is ten percent (10%) or ten centavos (P0.10) per share held by each stockholder.
Record date: March 25, 2019
Payment date: April 17, 2019
To summarize the 20% dividend including the previously announced 10%:
First tranche is ten percent (10%) or ten centavos (P0.10) per share held by each stockholder.
Record Date:
22 February 2019 (Friday)
Payment Date:
19 March 2019
Second tranche is ten percent (10%) or ten centavos (P0.10) per share held by each
stockholder.
Record date: March 25, 2019
Payment date: April 17, 2019
The Board has also Authorized management to enter into negotiations and to sign with the Solar Group of William and Wilson Tieng for a possible joint venture at Montemaria, Batangas City, a development of a subsidiary of Abacore, with the condition that management shall present to the Board, for approval, the final terms of the contract. Mr. William Tieng and Mr. Wilson Tieng took no part in the vote.
The Board has also authorized management to sell all the unsold portions of the properties belonging to its subsidiaries located at Mataas na Bayan, Lemery, Batangas, with an area of 146,992 square meters more or less, to Steel Asia or its assigns at a price of 2,500 per square meter if paid in cash, 3,000 per square meter if paid in 2 years, or 3,500 per square meter if paid in 4 years, with the condition that management shall return to the Board, for approval, the final terms of the contract.
Management has also reported to the Board that it expects its wholly-owned subsidiary Abacus Coal Exploration and Development Corporation to have continuous operation by June 2019.
The Board has also authorized its wholly-owned subsidiary, Philippine Regional Investment
Development Corporation (PRIDE) to accept cash as payment for the subscription to the increase of authorized capital of PRIDE from 1 billion to 3 billion. The subscription to the increase is currently being negotiated by management with strategic investors.
Abacore is bullish this year considering the boom in real estate in Batangas considering the infrastructure development in the area which includes extensions of the STAR tollway, development of the international seaport, and the moving of other industries to Batangas.
Abacore, through its subsidiaries, owns at least 200 hectares in Batangas.