The Securities and Exchange Commission (SEC) has lifted the suspension order on mall developer Ever Gotesco Resources and Holdings Inc.’s registration and permit to sell securities.
The suspension order was due to the firm’s failure to hold annual stockholders’ meeting several times.
In a disclosure, Ever Gotesco informed to the Philippine Stock Exchange on Tuesday that the SEC has formally resolved to lift the order of suspension on the company’s registration of securities and permit to sell securities.
Earlier in July, the SEC suspended Ever Gotesco’s registration and permit to sell securities, which also lead to the suspension of trading of its shares at the local bourse.
In a memorandum, the exchange specified that the suspension was from the firm’s violation of the requirement of the Securities Regulation Code, involving its failure to hold an annual stockholders meeting for the fourth time.
Ever, led by the family of Jose Go, operates the Ever Gotesco Commonwealth Center and the Ever Gotesco Manila Plaza. It also has interest in the real estate business.