CEBU Air Inc. (CEB) on Monday has paid the Philippine Stock Exchange (PSE) a P50,000 penalty for violating the local bourse’s disclosure rules.
In a disclosure on Monday, CEB said it violated Sections 4.1 and 4.4 of the Revised Disclosure Rules.
The rules mandate listed companies to disclose any material information or corporate act, development or event within 10 minutes before releasing the information to the media.
Section 4.1 also mandates listed companies to provide the PSE with the original copy of any disclosure within 24 hours.
Section 4.4 states that changes in the issuer’s corporate purpose, resignation or removal of directors, and any decision taken to carry out extraordinary investments must be immediately disclosed.