In re Edsa Properties Holdings, Inc.
SEC-CFD Order No. 126-07 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Jul 19, 2007
Full text
July 19, 2007 SEC-CFD ORDER NO. 126-07 IN THE MATTER OF THE EDSA PROPERTIES HOLDINGS, INC. VIOLATION OF SRC RULE 38 AND SECTION 54 OF THE SECURITIES REGULATION C OD E ORDER EDSA PROPERTIES HOLDINGS, INC., having violated Section 54 and SRC Rule 38 of the Securities Regulation Code (SRC) for failure to comply with its representation in its Secretary's Certificate dated June 29, 2006 relative to the attendance of its directors in the company's board meetings, and for having elected unqualified independent directors for the year 2007, was penalized and required to pay a total penalty of THREE HUNDRED SIXTEEN THOUSAND PESOS (P316,000.00). The same was paid to this Commission on July 19, 2007 under Official Receipt No. 0079400. The company is warned that, henceforth, it shall endeavor to take such measures as will ensure full compliance with the requirements of the Securities Regulation Code, otherwise, the Commission shall be constrained to impose penalties corresponding to such subsequent repetition of the same violation in accordance with SEC Memorandum Circular No. 6, Series of 2005 (Consolidated Scale of Fines). SO ORDERED. EDSA, Mandaluyong, Metro Manila, Philippines. July 19, 2007. cCAIDS (SGD.) JUSTINA F. CALLANGAN Director
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