Meralco officials sell MER stocks, cash in P14.8 million



As stock traders and investors go gaga over the staggering price increase of the stock of Meralco (Stock Code: MER), several officials of the power distribution company are locking in profits by selling their shares, disclosure reports to the Philippine Stock Exchange (PSE) show.

In July alone, more than 65,000 shares were disposed by eight Meralco officers, with total value amounting to P14.8 million. Although each executive had varying amounts of proceeds, on the average, each one of them got around P1.8 million.

A list of Meralco officers and the number and value of the shares they sold in July are as follows.

MER shares sold by Meralco executives in July

1. Jose de Jesus (President and Chief Operating Officer)

  • Sold 5,000 shares at P203.00 on July 24
  • Total Gross Proceeds = P1,015,000.00
  • Remaining Shares Owned = 701 (0.0001%)

2. Ricardo Buencamino (Executive Vice President)

  • Sold 3,093 shares at P300.00 on July 29
  • Sold 5,000 shares at P175.00 on July 9
  • Total Gross Proceeds =P1,802,900
  • Remaining Shares Owned = 10,238 (0.0009%)

3. Leonisa de la Llana (Senior Vice President)

  • Sold 2,000 shares at P300.00 on July 29
  • Sold 5,000 shares at P169.00 on July 8
  • Total Gross Proceeds = P1,445,000
  • Remaining Shares Owned = 55,131 (0.0049%)

4. Helen de Guzman (Vice President and Comptroller)

  • Sold 500 shares at P205.00 on July 27
  • Sold 500 shares at P206.00 on July 27
  • Sold 1,000 shares at P207.00 on July 27
  • Sold 500 shares at P208.00 on July 27
  • Sold 500 shares at P209.00 on July 27
  • Sold 1,000 shares at P210.00 on July 27
  • Sold 780 shares at P211.00 on July 27
  • Sold 495 shares at P204.00 on July 24
  • Sold 1,000 shares at P174.00 on July 14
  • Sold 500 shares at P175.00 on July 14
  • Sold 560 shares at P172.00 on July 14
  • Sold 1,500 shares at P145.00 on July 6
  • Sold 1,000 shares at P146.00 on July 6
  • Sold 1,000 shares at P147.00 on July 6
  • Sold 1,500 shares at P150.00 on July 6
  • Total Gross Proceeds = P2,189,880
  • Remaining Shares Owned = 580 (0.0001%)

5. Nixon Hao (Vice President)

  • Sold 10,155 shares at P199.00 on July 22
  • Total Gross Proceeds = P2,020,845
  • Remaining Shares Owned = 16,272 (0.0015%)

6. Fortunato Leynes (Vice President)

  • Sold 1,000 shares at P180.00 on July 20
  • Total Gross Proceeds = P180,000
  • Remaining Shares Owned = 21,783 (0.0020%)

7. Anthony Rosete (Vice President and Asst. Corporate Secretary)

  • Sold 915 shares at P165.00 on July 8
  • Total Gross Proceeds = P150,975
  • Remaining Shares Owned = 1,060 (0.0001%)

8. Ruben Sapitula (Vice President)

  • Sold 20,100 shares at P300.00 on July 29
  • Total Gross Proceeds = P6,030,000.00
  • Remaining Shares Owned = 0 (0.0%)

Tags: Meralco, MER, Manila Electric Co., Philippine Stock Exchange, PSE stocks

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5 thoughts on “Meralco officials sell MER stocks, cash in P14.8 million”

  1. hmmmm…. do you guys smell something or do you see any red flags from those disclosures? Those officials really hit the jackpot! Definitely, they had insiders information for after all what’s the use of being within the inner circle?…hehe

    Galing nun mga naglocked-in ng yield nila at P300.OO on July 29.

    Reply
  2. The  irony is, they would have been better served if they hold on their shares and collected their dividends , current price MER is about 250 range. Time is a friend of a wonderful business. The stock market is the only place I know where you get a 100% return , yet feel sorry afterwards for selling too soon. Happy Investing!

    Reply

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