In the Matter of Primetown Property Group, Inc.
SEC-CFD Order No. 216-10 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Aug 31, 2010
Full text
August 31, 2010 SEC-CFD ORDER NO. 216-10 IN THE MATTER OF PRIMETOWN PROPERTY GROUP, INC. ORDER OF REVOCATION The records on file with this Commission show the company's continued failure to comply with the reportorial requirements, particularly the non-filing of its 2008 Annual Report and 2009 1st to 3rd Quarter Reports and to pay the corresponding penalties, in violation of the directives set forth in the Suspension Order dated April 29, 2010. It has also failed to submit subsequent reports under SRC Rule 17 which were already due, such as its 2009 Annual Report and 2010 1st Quarter Report. On July 21, 2010, the company, through its court-appointed rehabilitation receiver, requested additional time to afford its external auditors the opportunity to complete the audit of the company's 2008 and 2009 books of accounts and to comply with the directives in the Suspension Order. Pursuant to the resolution of the Commission in its meeting on August 26, 2010, the Company's request for extension of time is hereby DENIED and its Registration of Securities and Permit to Sell Securities to the Public are hereby REVOKED. Accordingly, the Company is prohibited from selling/offering for sale its securities to the public. This revocation order shall not exempt the Company from complying with its reportorial obligations under the Securities Regulation Code or other pertinent laws. Let a copy of this Order be sent to the Philippine Stock Exchange and posted in the Commission's official website for the information and guidance of the public. SO ORDERED. aHSAIT August 31, 2010, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Director
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.