Philab Holdings to be delisted on July 11

The PSE [link] released a memo on Wednesday to say that it would involuntarily delist Philab Holdings Corp. [DNA suspen-dead] from the PSE on July 11. DNA was suspended in May 2018 for its failure to submit an Annual Report.

MB bottom-line: Mess begets mess, so I’m glad to see the PSE continuing to take a firmer approach with all of these zombie companies that have been allowed to remain on the PSE and in the system for years. I hope that whatever has kept the PSE from taking action, or whatever has incentivized the PSE to be so passive on the application of the rules, will be resolved under the watch of the new SEC Chairman, Francis Lim. Sure, 2018 was 7 years ago and people barely remember DNA as a stock, but Abra Mining [AR suspen-dead] has already been suspended for four years, and that situation is begging for a (similar?) resolution. 

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