By Jenniffer B. Austria | Posted September 11, 2013 | manilastandardtoday.com]
Shares of shopping mall developer Ever Gotesco Resources and Holdings Inc. will resume trading today, after the Philippine Stock Exchange lifted the trading suspension on the company’s shares.
The PSE said in a memorandum it allowed the resumption of Ever Gotesco’s shares after the Securities and Exchange Commission lifted suspension of the company’s registration of securities and permit to sell securities.
SEC director for corporate finance Justina Callangan said the suspension order against Ever Gotesco was lifted during the SEC en banc’s recent meeting, after the company paid the P194,400 fine for violation of the Securities Regulation Code.
The SEC ordered the suspension of Ever Gotesco resources in May for a period of 60 days for not holding the annual stockholders’ meeting in 2012, the fourth time the company committed such violation.
Ever Gotesco, which was incorporated in September 1994 as a holding company, is engaged in building shopping malls and leasing them out to commercial tenants.
The malls are primarily leased out to Ever Department Store and Supermarket, cinemas, banks, amusement centers, food shops, specialty stores, boutiques, drug stores and services shops.