SEC lifts suspension order on Ever Gotesco

MANILA, Philippines - Shopping mall developer and operator Ever-Gotesco Resources & Holdings Inc. is again allowed to sell shares to the public, ending a month-long trading suspension on its stocks following its compliance of regulatory requirements.

“The Securities and Exchange Commission (SEC) has resolved to lift the order of suspension of the company’s registration of securities and permit to sell securities,” Ever Gotesco said in a disclosure.

Ever Gotesco then requested the Philippine Stock Exchange (PSE) to resume trading of the firm’s shares.

In July, SEC ordered the suspension of Ever Gotesco’s registration of and permit to sell shares amid the company’s failure to hold stockholders’ meetings.

“The records on file with SEC show that Ever Gotesco violated for the fourth time the Securities Regulation Code...for its failure to hold its annual stockholders’ meeting in 2012,” PSE earlier said.

Ever Gotesco, controlled by the Go family, was incorporated in 1994 focusing on the construction of shopping malls and leasing them out to commercial tenants.