Posted on March 07, 2014 07:31:09 PM [
BusinessWorld Online ]
BOULEVARD Holdings, Inc. (BHI) is
poised to raise up to P250 million from debt to fund projects and acquisitions
of its subsidiaries, the listed resort operator said in a disclosure on Friday.
BHI said its board of directors
granted its authorization "to enter into financial agreement/s with bank/s
up to a total amount of P250 million with BHI's Chairman and President/Chief
Executive Officer, Jose Marcel [E.] Panlilio, as authorized signatory..."
Said funding will be used "for
property acquisition/construction projects of its subsidiaries in Friday's
Boracay Beach Resort (Friday's Holdings, Inc.) and Friday's Boquete Beach
Resort Hotel (Friday's Puerto Galera, Inc.)", the disclosure read.
The board of directors also authorized
Mr. Panlilio "to negotiate, finalize terms and execute agreements in
connection with the property acquisition of BHI's subsidiary, Friday's
Holdings...in Brgy. Balabag, Municipality of Malay, Island of Boracay,
Aklan."
In a separate disclosure, BHI
announced that its sales fell in the third quarter ending February of its
June-May fiscal year, but the nine-month tally rose by more than a tenth.
The resort developer said consolidated
sales of its products and services slipped by 8% to P13.806 million in the
third quarter of its fiscal year from P15.062 million the preceding year.
BHI, however, booked P100.601-million
sales in the nine months ending February, up 13% from P88.654 million.
Shares of the company lost 1.33% to
14.8 centavos apiece on Friday from 15 centavos on Thursday. -- Claire-Ann
Marie C. Feliciano
Posted on March 07, 2014 07:31:09 PM [
BusinessWorld Online ]
BOULEVARD Holdings, Inc. (BHI) is
poised to raise up to P250 million from debt to fund projects and acquisitions
of its subsidiaries, the listed resort operator said in a disclosure on Friday.
BHI said its board of directors
granted its authorization "to enter into financial agreement/s with bank/s
up to a total amount of P250 million with BHI's Chairman and President/Chief
Executive Officer, Jose Marcel [E.] Panlilio, as authorized signatory..."
Said funding will be used "for
property acquisition/construction projects of its subsidiaries in Friday's
Boracay Beach Resort (Friday's Holdings, Inc.) and Friday's Boquete Beach
Resort Hotel (Friday's Puerto Galera, Inc.)", the disclosure read.
The board of directors also authorized
Mr. Panlilio "to negotiate, finalize terms and execute agreements in
connection with the property acquisition of BHI's subsidiary, Friday's
Holdings...in Brgy. Balabag, Municipality of Malay, Island of Boracay,
Aklan."
In a separate disclosure, BHI
announced that its sales fell in the third quarter ending February of its
June-May fiscal year, but the nine-month tally rose by more than a tenth.
The resort developer said consolidated
sales of its products and services slipped by 8% to P13.806 million in the
third quarter of its fiscal year from P15.062 million the preceding year.
BHI, however, booked P100.601-million
sales in the nine months ending February, up 13% from P88.654 million.
Shares of the company lost 1.33% to
14.8 centavos apiece on Friday from 15 centavos on Thursday. -- Claire-Ann
Marie C. Feliciano
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