April 11, 2017
SEC MSRD ORDER NO. 014-17
IN THE MATTER OF LBC EXPRESS HOLDINGS, INC.
RE: APPLICATION FOR REGISTRATION OF SECURITIES
ORDER
This refers to the application for the registration of up to Sixty-nine million, one hundred one thousand (69,101,000) common shares of LBC Express Holdings, Inc. (the "Company") with a par value of P1.00 per share. In relation to this, a Registration Statement ("RS") was initially filed by the company on December 1, 2016. The same was amended on several dates, specifically, January 11, March 08, and March 21 of 2017. HTcADC
After a review of the latest RS filed with the Commission, the Commission En Banc in its meeting held on March 28, 2017 resolved to REJECT the said RS relative to the registration of the company's securities for its failure to disclose or represent accurately and/or completely the following material information required to be disclosed in the RS, to wit:
1. Legal proceedings against the control persons of the Company or the Aranetas as required by the Part IV par. (4) (b) of "Annex C" as amended of...
