By James A. Loyola
Manila Bulletin Publishing Corporation, the nation’s leading broadsheet, reported that it has fully complied with the listing requirements of the Philippine Stock Exchange — paving the way for the listing of stock dividends issued two years ago.
In a disclosure to the PSE, Manila Bulletin said it has fully complied with the bourse’s listing requirements as of July 11, 2018.
“In addition, in a sworn Corporate Secretary’s Certificate dated July 5, 2018, the Company certified that the Stock Dividend Shares will be duly lodged with the Philippine Depository and Trust Corporation on listing date,” Manila Bulletin said.
With this, Manila Bulletin’s Stock Dividend Shares will be listed and are eligible for trading on Friday, July 13, 2018. The number of MB’s listed common shares will be accordingly adjusted on the listing date.
In July, 2016, Manila Bulletin’s Board of Directors and stockholders approved a 3 percent stock dividend amounting to 100,955,507 common shares.
On August 30, 2016, the PSE announced that, due to Manila Bulletin’s pending full compliance with the listing requirements, the shares subject of the 3 percent stock dividend declaration were not be listed on August 31, 2016, the scheduled payment date.
However, Manila Bulletin was mandated to issue the Stock Dividend Shares to the entitled shareholders on the scheduled payment date, as provided under the rules of the Securities and Exchange Commission.