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                    [ArticleID] => 372697
                    [Title] => Basic Consolidated reduces capital to P500 million
                    [Summary] => 



The Securities and Exchange Commission has approved Basic Consolidated Inc.’s reduction in authorized capital stock to P500 million from P2 billion as part of the company’s quasi-reorganization towards cleaning up its balance sheet.


In a disclosure to the Philippine Stock Exhange, Basic said the SEC also approved the reduction of the par value of its shares from P1 to P0.25 per share.  The number of the company’s shares remains at two billion.  


Likewise approved was the change in its corporate name to Basic Petroleum Corp. 


                    [DatePublished] => 2006-12-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
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STERLING ENERGY PLC

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                    [ArticleID] => 372697
                    [Title] => Basic Consolidated reduces capital to P500 million
                    [Summary] => 



The Securities and Exchange Commission has approved Basic Consolidated Inc.’s reduction in authorized capital stock to P500 million from P2 billion as part of the company’s quasi-reorganization towards cleaning up its balance sheet.


In a disclosure to the Philippine Stock Exhange, Basic said the SEC also approved the reduction of the par value of its shares from P1 to P0.25 per share.  The number of the company’s shares remains at two billion.  


Likewise approved was the change in its corporate name to Basic Petroleum Corp. 


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                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
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Basic Consolidated reduces capital to P500 million

By Zinnia B. Dela Peña | December 1, 2006 - 12:00am

The Securities and Exchange Commission has approved Basic Consolidated Inc.’s reduction in authorized capital stock to P500 million from P2 billion as part of the company’s quasi-reorganization...

Business