March 4, 2019
SEC-CGFD ORDER NO. 054-19
IN THE MATTER OF: ACROPOLIS NORTH WATER CAMP AND COUNTRY CLUB, INC.
PETITION FOR VOLUNTARY REVOCATION OF THE REGISTRATION OF SECURITIES AND CERTIFICATE OF PERMIT TO SELL SECURITIES
ORDER OF REVOCATION
Submitted for consideration of the Commission En Banc is the Petition for Voluntary Revocation of the Registration of Securities and Certificate of Permit to Sell Securities filed by ACROPOLIS NORTH WATER CAMP AND COUNTRY CLUB, INC. praying that the Registration of and Certificate of Permit to Sell Securities be revoked pursuant to SRC Rule 13.2. HTcADC
The Club cited the following as bases for the grant of the Petition:
1. The Club has only eight (8) shareholders. Sta. Lucia Realty & Development holds 993 Silver Shares while the remaining seven (7) stockholders own 1 Gold share each.
2. It has not sold shares to the public from the date it was granted a Permit to Sell Securities on April 2, 2004. As such, it has been suffering losses and its facilities have already deteriorated and that it would be best to operate its club on...
