July 30, 2019
SEC EN BANC CASE NO. 12-13-311
ABACORE CAPITAL HOLDINGS, INC., appellant, vs. COMPANY REGISTRATION AND MONITORING DEPARTMENT, represented by Acting Director Ferdinand B. Sales, appellee.
| FOR | : | Review of CRMD's Imposition of Penalty under the SEC Amended Rules Governing Pre-Emptive and Other Subscription Rights and Declaration of Stock and Cash Dividends of Corporations Whose Securities are Registered under the Securities Regulation Code or Listed in the Stock Exchange |
DECISION
For consideration of this Commission is the Appeal of Abacore Capital Holdings, Inc. (Abacore), 1 from the Letter dated November 27, 2013 of the Company Registration and Monitoring Department (CRMD) 2 imposing a fine of P62,000.00 against the Appellant. The CRMD found that the Appellant's changing of the record date from November 18, 2013 to December 12, 2013 (for a total period of 24 days) violates the "Amended Rules Governing Pre-Emptive and Other Subscription Rights and Declaration of Stock and Cash Dividends of Corporations whose Securities are Registered under the Securities Regulation Code or Listed in the Stock Exchange." HTcADC
FACTS OF THE CASE
Appellant Abacore, (formerly Abacus Consolidated Resources...
