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Manila Bulletin devider Business devider 11 firms escape trading suspension at PSE

11 firms escape trading suspension at PSE

Published Jun 9, 2022 03:45 pm

Eleven listed firms have finally submitted their annual and quarterly reports, escaping suspension from the Philippine Stock Exchange on the trading of their shares.

In a notice last May 24, the PSE said the listed companies have not complied with the structured reportorial requirements of the Exchange by failing to submit their Annual Reports for the year ended December 31, 2021 and Quarterly Reports for the period ended March 31, 2022, on or before the deadline of May 16, 2022.

Pursuant to Sanctions for Non-Compliance with Certain Structured Reportorial Requirements under the PSE’s Consolidated Listing and Disclosure Rules, the companies’ failure to comply with the requirements of the Exchange within the prescribed period will result in the automatic suspension of the trading of their respective shares starting on June 1, 2022.

The 11 firms listed by the PSE are 8990 Holdings Inc., AbaCore Capital Holdings, Inc., Araneta Properties, Inc., Basic Energy Corporation, Century Peak Holdings Corporation, DITO CME Holdings Corp., Leisure & Resorts World Corporation, Medilines Distributors Incorporated, Philippine Business Bank, TKC Metals Corporation, and Vantage Equities, Inc.

However, the PSE said later that “the listed companies initially included in the previous PSE EDGE Disclosure Notice No. DN00055-2022 dated May 24, 2022 have duly submitted their respective annual reports and audited financial statement disclosure requirements as of this date.

“Thus, given their compliance with the structured reportorial requirements of the Exchange, the trading of their respective shares will not be suspended...”

For some of the firms in the list, the PSE had actually extended the deadline to June 3, 2022 and these firms were able to submit their requirements before the new deadline so the trading of their shares were not suspended.

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