Petron Employee Retirement Fund Sold 695 Million Share Block

THE PETRON Employees' Retirement Plan (PERP) dump today a total of 695.3 million shares of Petron common stocks at P11 a share in a market that closed yesterday at P13.30, more than 17 percent cheaper thereof. The block represents P7.65 billion in value at selling prices. As a result, majority shareholder San Miguel Corporation shares fell by 1.35 percent to P116.50 per share.