PART I - BUSINESS AND GENERAL INFORMATION
Item 1. Business
Description of Business
The Company’s history dates back to May 26, 1949 with the establishment of William
Lines, Inc., a passenger and cargo shipping company headquartered in Cebu. Driven by
the vision of providing the nation with the best shipping services, the company
consolidated its resources and expertise with two other Cebu based companies namely
Carlos A. Gothong Lines, Inc. and Aboitiz Shipping Corporation last December 21, 1995.
This marked the birth of William, Gothong & Aboitiz, Inc. (WG&A). The Securities and
Exchange Commission (SEC) approved last February 28, 1996 the corporate name. In
2002, Aboitiz Equity Ventures, Inc. (AEV) acquired the combined holdings of the
Chiongbian and Gothong Group. The buyout by AEV of the shareholdings of C&G Group
was executed through an Escrow Agreement dated July 31, 2002. In compliance with the
agreement, the Company amended its Article of Incorporation to change its registered
corporate name from William, Gothong & Aboitiz, Inc. (WG&A) to Aboitiz Transport
System (ATSC) Corporation of which the Securities and Exchange Commission (SEC)
approved last February 4, 2004
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PART II - OPERATIONAL AND FINANCIAL INFORMATION
Item 5. Market Price of and Dividends on Registrant’s Common Equity and
Related Stockholder Matter.
The registrant’s common equity is traded in the Philippine Stock Exchange (“PSE”).
Stock Prices – 2003, 2004 and 1
Quarter of 2005
Latest Market Price
On April 01, 2005 trading date, the market price of the Company’s common stock is
P1.80 per share.
The number of shareholders of record as of March 31, 2005 was 2,290 for common and
2,257 for preferred. The outstanding shares as of March 31, 2005 are 1,891,328,646
common and 74,904,087 preferred shares. Filipinos own Ninety-nine point ninety-one