Bilyonaryo - Business

Gaisanos clarify: MRSGI disclosed on the same day, just a few hours late

January 22, 2023

Bilyonaryo.com

Metro Retail Stores Group Inc. (MRSGI) of the bilyonaryo Gaisano family reiterated its compliance with the Philippine Stock Exchange’s disclosure and listing rules.

MRSGI issued a statement in response to Bilyonaryo.com’s report that the Cebu-based retailer was penalized by the PSE for breach of its disclosure obligations.

Gaisano family’s MRSGI sanctioned for breach of PSE disclosure rules

“MRSGI would like to note that the company has been in communication with the PSE to bring clarity to this concern, which took place in 2021 during the peak of the COVID-19 pandemic,” the company said.

It noted that the “disclosure was made on the same day, albeit a few hours delayed primarily because [MRSGI’s] compliance officer was experiencing Covid-like symptoms at that time. Nevertheless, the company sought to disclose to the exchange as quickly as possible,” said the Gaisano-led supermarket operator.

“MRSGI has also reiterated to the exchange that it was a unique incident and the company has since disclosed its transactions in a timely manner as what the company has always done,” it added.

The company said it would continue to coordinate and communicate with the PSE to address this matter.

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