Beloy’s Abra Mining faces fresh sanctions from PSE for disclosure violations
By Eileen Mencias | Bilyonaryo.Com
The Philippine Stock Exchange (PSE) has imposed additional sanctions on the Beloys’ Abra Mining and Industrial Corp. for repeated disclosure violations.
Trading in Abra Mining shares has been suspended since 2021 due to the issuance and trading of unlisted and unregistered shares.
On October 22, the PSE announced it had sanctioned Abra Mining for failing to submit its monthly report on the number of shareholders holding at least one board lot and for not providing its monthly report on unclassified shares with foreign ownership.
The latest penalties relate to the company’s failure to disclose the direct and indirect ownership of directors and principal officers, report their transactions, update disclosures on transactions of directors and principal officers, submit periodic reports such as annual and quarterly filings, and provide material information disclosures.
Source: Bilyonaryo.Com
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