CBMPC Acts as Broker of LSERV Shares of Members

Recently, the CBMPC started to act as broker of the LSERV shares owned by the coop members. A total of 388 LSERV shares owned by a member were initially sold to eight other coop members, including the CBMPC, while the sale of 228 additional shares to nine member-buyers is in its final stage of completion. On top of these, 910 shares of are still up for sale from another member.

In this new business undertaking, the CBMPC aims to help those members who intend to liquidate their LSERV shares as they are in need of funds and/or are already in their twilight years. For the other members looking for better investment alternative, it is a good opportunity for them to acquire shares from said corporation and enjoy the attractive return on investment (in the form of cash and stock dividends) since in the allocation of shares, priority is given to the CBMPC members who are non-LSERV stockholders yet.

For the CBMPC, it also generates additional fee-based income in the form of broker’s fee, computed at 2.5% of the selling price (based on book value per share) which is equally shared by the seller and buyer. As the broker, the coop handles all the activities related to the eventual transfer and issuance of the LSERV stock certificates in the name of the new stockholders.