PSE lifts trading freeze on Atlas, DMCI shares

The Philippine Stock Exchange (PSE) lifted yesterday the trading suspension on Atlas Consolidated Mining and Development Corp. after the company complied with the bourse’s reportorial requirements.

The PSE said Atlas has already submitted 200 copies of its quarterly report ending March 31, 2003 and paid the corresponding fines.

At the same time, the exchange said it will no longer halt trading of DMCI Holdings shares following the latter’s compliance with the bourse’s structured reportorial requirements.

Trading suspension on Banco Filipino Savings & Mortgage Bank and Pryce Corp., on the other hand, will remain suspended unless they submit the required financial reports.

Banco Filipino has yet to submit 200 copies of its 2003 first quarter report and annual financial statement for 2002. The exchange had issued an indefinite trading suspension on BF shares on Dec. 20 pending clarification on the implementation of a previous board and stockholder resolution of its capital increase through a stock rights issue.

Meanwhile, the PSE said it will suspend trading of Pryce Corp.’s shares effective today, July 16, unless compliance with reportorial requirements is made on or before said date.

Listed companies are given 105 days after the end of each financial year to submit their audited financial reports to the bourse. A 15-day extension is usually granted to firms that fail to meet the deadline.

After the 15-day extension, listed firms are required to submit formal requests to the PSE for additional extensions if needed.