PGOLD Board OK’s First Step in Possible M&A with S&R Membership Shopping

Manila–(PHStocks)–The Board of Directors of Puregold Price Club Inc. (PSE: PGOLD) has given the Management authority to set up a Retirement Plan and appoint a Corporate Trustee and Retirement Board of Trustee. The Management has also received the go ahead in establishing a Stock Option Plan (SOP) for the employees of Puregold and its subsidiary Puregold Junior Supermarket Inc.

The Board has also approved the Management request to study and discuss with the Management of S&R Membership Shopping for the possible merger/acquisition of S&R Membership Shopping by Puregold at terms and conditions satisfactory to both parties.