Rules Requiring Definite Dates for the Exercise of Pre-Emptive or Other Rights or for the Issuance of Stock Dividends

April 19, 1974RULES REQUIRING DEFINITE DATES FOR THE EXERCISE OF PRE-EMPTIVE OR OTHER RIGHTS OR FOR THE ISSUANCE OF STOCK DIVIDENDSIn order to avoid delays in the issuance of rights or distribution of stock dividends after an increase of capital stock of any corporation whose securities are listed in any operating stock exchange or registered under the Securities Act, the Commission (SEC), pursuant to the powers vested in it under existing laws, particularly, the Revised Securities Act and Republic Act No. 1143, hereby promulgates the following rules: llcdSECTION 1. No corporation whose securities are listed in any operating stock exchange or registered under the Securities Act, shall make any announcement of an offer of rights to acquire shares or to issue stock dividends to stockholders after an increase of capital stock, without a definite fixed date for the exercise of such rights or issuance of stock dividends.SECTION 2. To enable the corporation to fix such date, the SEC shall first be consulted to determine the length of time it would need to approve the increase...