The Philippine Stock Exchange is moving to remove Uniwide Holdings Inc. from its roster of publicly-listed companies, citing the defunct retailer’s dissolution and continuing violation of disclosure rules.
In a notice to investors on Friday, the PSE said it had initiated involuntary delisting proceedings against Uniwide. It said Uniwide had failed to submit structured reportorial requirements, particularly annual reports from 2013 to 2015 as well as first to third quarterly reports for the years ended 2014 to 2016.
Uniwide has also failed to submit on time the reports on the number of shareholders in 2014 and 2015, foreign ownership reports in 2014 and 2015, top 100 stockholders report in 2014 and public ownership report in 2014.
The PSE also cited as ground for delisting the Securities and Exchange Commission (SEC)’s order for the dissolution and liquidation of assets of all companies in the Uniwide group.