2018
MARKETS AND SECURITIES REGULATION DEPARTMENT
SEC ADVISORY
| SUBJECT | : | Delisting of Calata Corporation by the Philippine Stock Exchange |
The SEC has received a number of queries by shareholders of Calata Corporation regarding the delisting of the company by the Philippine Stock Exchange (PSE), a Self-Regulatory Organization (SRO).
For the information of the affected shareholders of Calata Corporation, Rule 39.1 of the 2015 Implementing Rules and Regulations of the Securities Regulation Code (2015 SRC Rules) provides for the oversight by the Securities and Exchange Commission over SROs such as the PSE. Specifically, relative to the power of the SRO over listed companies, Rule 39.1.1.4 of the 2015 SRC Rules provides:
"The SRO shall be solely responsible for processing and approving or rejecting applications for new listing of securities, suspension and delisting of listed issues and imposition of sanctions on listed companies for violation of SRO rules; Provided, however, that such powers shall be exercised pursuant to SRO rules." (emphasis supplied)
Relative thereto, the affected shareholders of Calata Corporation is hereby informed that a decision of a Self-Regulatory Organization (SRO) may...
