June 14, 1996
PSE LISTING CIRCULAR NO. 212-96
EXCEPTIONS TO THE TRACK RECORD REQUIREMENTS OF THE PRIMARY BOARD
On 23 May 1996, the Securities and Exchange Commission approved amendments to the provisions of item no. 4 of the Primary Board Listing Requirements provided under Chapter I, PSE Listing Rules. The revised rule provides for exceptions to the three-year track record rule. The revised rule states as follows:
"General Rule
The applicant company shall have a proven track record of profitable operations for at least three (3) full fiscal years immediately prior to the application for listing with a cumulative consolidated pre-tax profit of at least P50 Million and a minimum pre-tax profit of P10 Million for each of those three (3) years. For purposes of this rule, pre-tax profit shall not include non-recurring and extraordinary income. The applicant company must be engaged in materially the same businesses and must have a proven track record of management throughout the last three (3) years prior to the filing of the application. aisadc
Exceptions
Without prejudice to compliance with all the requirements set forth in...
