In the Matter of Petition for Voluntary Revocation: Equicom Savings Bank, Inc.

March 22, 2016 SEC-CGFD ORDER NO. 063-16 IN THE MATTER OF PETITION FOR VOLUNTARY REVOCATION: EQUICOM SAVINGS BANK, INC. ORDER OF REVOCATION Submitted for consideration of the Commission is the company's Petition for Voluntary Revocation of its Registration of Securities and Certificate of Permit to Sell Securities . The Company also requested that it be exempted from filing the reports required by the Securities Regulation Code (SRC). acEHCD The company cited the following as bases for the Petition and its request for exemption from filing the required reports: 1. The Bank is no longer a public company. To date, the Bank has a total of 622 shareholders, only 99 of which are holding more than 100 shares, thus, it is no longer a public company as defined under Section 17.2 (C) of the SRC; 2. The Bank acted in good faith and was not aware that at the time the majority shareholders of the Bank bought ASB shares, the latter was a registered issuer of securities pursuant to SEC BED Order 550, Series of 1989; 3. The registered securities are that of AFIC as a finance and investment company; 4. There were no disclosures that the registered securities were sold to any person; 5. There were no significant changes in the ownership of ASB shares (now Equicom Savings Bank shares) except the 2007 buyout and succeeding stock transfers to the current majority shareholders, presently collectively controlling 95.66% of the Bank; and 6. The Bank did not offer the registered securities for sale to the public and it has no impending public offering. Finding the instant Petition to have fully complied with SRC Rule 13, the Commission, in its meeting held on 08 March 2016, resolved to GRANT the company's request for voluntary revocation of its Registration of Securities and Certificate of Permit to Sell Securities . The company was further granted relief from filing the reports required by the Securities Regulation Code, subject to the following conditions: 1) Upload in its website or publish in a newspaper of general circulation an information regarding the revocation of the Registration of and Permit to Sell Securities of Equicom Savings Bank within ten (10) days from receipt of notice from the Commission granting the Bank's petition for revocation; 2) Submit a Certification under oath that the said notice was uploaded in its website, indicating its web address or published in a newspaper of general circulation, within ten (10) days from the uploading or publication of said notice; 3) Comply with the reportorial requirements of the Commission under the Corporation Code. SO ORDERED. SDAaTC Mandaluyong City, Philippines, March 22, 2016. (SGD.) JUSTINA F. CALLANGAN Director