In re Pamplona Plantation and Country Club, Inc. ("PPCCI")

December 10, 2008 SEC-CFD ORDER NO. 151-08 IN THE MATTER OF PAMPLONA PLANTATION AND COUNTRY CLUB, INC. ("PPCCI") O R D E R The records on file with this Commission show that: 1. PPCCI filed late the required Certificates of Attendance of Directors to the 2005 and 2006 Board Meetings and on the Extent of Compliance with its Manual on Corporate Governance for 2005 and 2006, and failed to comply with SEC-CFD Order No. 167, Series of 2007, directing it to pay the total adjusted penalty for said violations in the amount of P222,500.00 within five (5) days from receipt of said Order per Resolution of the Commission en Banc during its meeting held on 04 October 2007. It also failed to provide a reasonable and acceptable compromise/settlement offer with the Compliance and Enforcement Department for the foregoing violations; 2. It filed its 2007 Annual Report (SEC Form 17-A) beyond the prescribed period; 3. It failed to file its 2008 1st Quarter Report (SEC Form 17-Q) and Certificates of Attendance of Directors to the 2007 Board Meetings and on Extent of Compliance with its Manual on Corporate Governance for 2007; EaHcDS In spite of notice and demand, the company has failed to submit the above-mentioned reports and pay the assessed penalty. It also failed to attend without justifiable cause the scheduled hearing/s on 25 September 2008 and on 27 October 2008 on the said offenses or violations. Pursuant to the resolution of the Commission in its meeting on 04 December 2008, the company's Registration of Securities and Certificate of Permit to Sell Securities to the Public are hereby SUSPENDED for a period of 60 days from the date of receipt of this Order or until the company submits the required reports and pays the penalty in full, 1 whichever comes first. Should the company fail to comply with the above directive within the said period, the Commission shall immediately initiate proceedings for the revocation of its Registration of Securities and Certificate of Permit to Sell Securities to the Public. Let a copy of this Order be posted in the Commission's official website for the information and guidance of the public. SO ORDERED. Signed this 10th day of December 2008 at Mandaluyong City, Philippines. For the Commission: (SGD.) JUSTINA F. CALLANGAN Director Footnotes 1. Penalty for Non-filing of 2008 1st Quarter - P50,000.00 basic penalty + P300 per day of continuing violation + Penalty for Late-filing of 2007 Annual Report - 184,000.00 [P100,000.00 + (P500*168 days)] + Penalty for previous violations - 222,500.00 [P266,500.00 - 44,000.00 (Appeal)]