October 29, 1997
PSE LISTING CIRCULAR NO. 193-97
| SUBJECT | : | Additional Sanctions for Non-Compliance with the Continuing Listing Requirements |
EXECUTIVE SUMMARY
The following is the procedure and the corresponding sanctions for non-compliance with the Continuing Listing Requirements, as provided in the Rules of the Exchange, approved and adopted by the Board of Governors:
Compliance with the Required Minimum Number of Stockholders and/or Minimum Number of Ownership Reserved for the Public
1. In the event that a listed company fails to comply with the continuing listing requirements of maintaining a minimum number of stockholders and/or minimum number of ownership reserved for the public as provided in the rules, the Exchange shall inform the listed company thereof. The notice shall contain a directive to the concerned listed company to comply with the requirements of the rules within thirty (30) calendar days from receipt of such notice.
2. Should the concerned listed company continue to fail to comply with the aforementioned requirements after the lapse of the thirty (30) day period, the Exchange shall impose a penalty of Ten Thousand Pesos (P10,000.00) for each day...
