Triple bukol! Antonio Tiu’s Greenergy penalized for multiple violations of PSE disclosure rules
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Triple bukol! Antonio Tiu’s Greenergy penalized for multiple violations of PSE disclosure rules

The Philippine Stock Exchange has punished Greenergy Holdings (GREEN) of businessman Antonio Tiu for violating its disclosure rules not once, not twice, but three times.

READ: Ampao! Antonio Tiu scraps another much hyped-deal

Based on PSE’s publication of penalties on July 22, GREEN violated the following rules:

* Failure to disclose material information within 10 minutes from receipt of the information or the occurrence of the development;

* Selective disclosure of material information or leaking non-public events or developments (all disclosures should be made simultaneously); and

* Failure to report events mandating prompt disclosure.

PSE said it has imposed sanctions on GREEN for failure to comply with its rules.

GREEN is a holding firm of Tiu’s renewable energy business. It has six subsidiaries of which four have yet to start commercial operations as of December 2020: Total Waste Management Recovery System, Inc. (TWMRSI); AgriNurture Development Holdings, Inc. (ADHI); Lite Speed Technologies, Inc. (LSTI); Yakuru Group Pty. Limited; and Ocean Biochemistry Technology Research, Inc. (OBTRI).

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