Mr. Henry A. Brimo
SEC Opinion • Securities and Exchange Commission • Opinions • Jul 8, 1981
Full text
July 8, 1981 Mr. Henry A. Brimo Philex Mining Corporation Philex Building, Brixton & Fairlane Sts., Pasig Metro-Manila Sir : This refers to your letter dated January 21, 1981 requesting opinion of this Commission on the queries posed therein. LexLib It appears from the records on file with this Commission that a petition has been filed with the Securities Investigation and Clearing Department of this Commission entitled "Arcangel et al vs. Brimo et al" docketed as SEC Case No. 002069 , touching as one of the issues therein the validity of the stockbrokers proxy votes. In view thereof, this Office refrains from rendering its opinion on the question propounded by Mr. Brimo (as one of the Management Candidates) that stockholders who are stockbrokers can vote shares of stock registered in their names but cannot execute proxies in favor of third parties. Please be advised accordingly. LibLex Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department
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