Filinvest Land Inc. (FLI), owned by the Gotianun family, has incurred penalties from the Philippine Stock Exchange index for its failure to adhere to the pertinent disclosure rules and other reportorial obligations.
The violation pertains to Section 4.1, in connection with Section 4.4 (u), of Article VII within the PSE’s consolidated listing and disclosure rules.
Section 4.1 mandates issuers to promptly disclose any material information, corporate acts, developments, or events to the PSE within 10 minutes of receiving such information or the occurrence of the specified act, development, or event.
Furthermore, in alignment with Section 4.4 (u), the PSE stipulates the disclosure of all resolutions approving material acts or transactions discussed in meetings of the board of directors and stockholders of the issuer.