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PSE imposes multiple sanctions against ABS-CBN Corporation for violating disclosure rules

by Arniel C. Serato
Jul 19, 2022
PSE imposes multiple sanctions against ABS-CBN Corporation
The Philippine Stock Exchange has sanctioned ABS-CBN Corporation for violating at least five provisions of Article VII of the Consolidated Listing and Disclosure Rules.
PHOTO/S: Jerome Ascano

Pinatawan ng patung-patong na parusa ng Philippine Stock Exchange (PSE) ang ABS-CBN Corporation dahil sa paglabag nito sa “rules and regulations of disclosure.”

Nakasaad sa inilabas na Publication of Penalties ng SEC kahapon, July 18, 2022: “Pursuant to Article VIII, Section 4 on Publication of Penalties Assessed under the Consolidated Listing and Disclosure Rules of the Exchange, as amended (the “Rules”), please be informed that the Exchange has imposed on the listed company mentioned below the corresponding sanctions to failure to comply with the requirements under the Rules."

Base sa dokumento, kabilang sa mga nalabag ng ABS-CBN Corporation ang "Sections 1, 4.1, 4.2, 4.3 and 16" ng Article VII na alintuntunin sa disclosure rules ng PSE.

PSE imposes multiple sanctions against ABS-CBN Corporation

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Ayon sa ulat ng bilyonaryo.com, nakasaad sa Section 1 na maging “full, fair, timely and accurate disclosure of material information from all listed companies.”

Ayon naman sa Section 4.1, nagtatakda sa issuers ng listed company “to disclose to the exchange any material information or corporate act, development or event, within 10 minutes from the receipt of such information.”

Pinagbawalan naman sa Section 4.2 ang mga listed company “to communicate material non-public information to any person, unless the issuer is ready to simultaneously disclose the material non-public information to the PSE.”

Sa Section 4.3 naman, kinakailangan na “disclosure to be made promptly by the issuer, such as if the information is necessary to avoid the creation of a false market for its securities, if it may reasonably be expected to materially affect market activity and the price of its securities, or if it is necessary to enable the issuer and the public to appraise their position or standing.”

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Panghuli ang Section 16 na nagtatakdang ang mga listed company ay kinakailangan na “to update and correct prior disclosures within 10 minutes after receipt of the updated information or upon determination of the discrepancy, should subsequent events make a prior disclosure inaccurate.”

Lahat ng ito ay nalabag ng ABS-CBN Corporation, ayon sa PSE.

Dagdag sa ulat ng bilyonaryo.com, noong July 6 ay nilinaw ng ABS-CBN Corporation sa PSE ang mga balitang partnership ng kumpanya sa mga pag-aaring establisyimento ni Manny Pangilinan ng TV5.

Ayon pa sa ulat, kinlaro raw ng network na pinag-uusapan pa lamang ng magkabilang kampo ang “various partnership opportunities as they become available to us.”

Kaugnay ito ng napabalitang merger ng resources ng ABS-CBN at TV5 kabilang na ang production, news gathering, pati operations.

Read: ABS-CBN reportedly inking 50/50 partnership with Manny Pangilinan’s MediaQuest

Hindi naman inihayag pa ng PSE kung anu-ano ang magiging penalties ng ABS-CBN Corporation.

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Wala pang pahayag ang ABS-CBN ukol dito.

Mananatiling bukas ang PEP.ph (Philippine Entertainment Portal) sa maaaring ihayag ng dating broadcast giant ukol sa isyu.

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The Philippine Stock Exchange has sanctioned ABS-CBN Corporation for violating at least five provisions of Article VII of the Consolidated Listing and Disclosure Rules.
PHOTO/S: Jerome Ascano
  • This article was created by . Edits have been made by the PEP.ph editors.
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