in the news: BKR/BRIGHT KINDLE RESOURCES (04 FEB 2017)

04 FEB 2017

Manila Golf moneymen move to revive BKR

A consortium of Manila Golf Club habitues composed of Isidro Alcantara Jr., club godfather Macario Te and club president Martin Romualdez has budgeted about P225 million to undertake a tender offer for a management-led buyout of the minority shares of Bright Kindle Resources.

A former banker, Alcantara also happens to be the president of Bright Kindle.

Now reduced to a shell company after the Bankard credit card company was spun off, Bright Kindle Resources still retains the trading symbol BKR while it awaits a corporate transformation from its media-shy principals.

Less than 20 percent of Bright Kindle Resources are said to be still in the hands of the minority shareholders. To begin by March 20, the tender offer is priced at P0.8575 a share, as against yesterday's P1.29-P1.39 trading range.

http://interaksyon.com/business/136819/cocktales--davao-coco-levy-row-proves-taxing-even-to-a-few-justices