The Philippine Stock Exchange (PSE) announced Friday that the shares of Island Information & Technology Inc. would resume trading on July 7, 2025, after four years of suspension.
The resumption of IITI’s trading follows the company’s full compliance with structured reportorial requirements, the PSE said.
Records showed that trading of IS shares was suspended on March 18, 2021 over the company’s failure to submit annual report for the fiscal year ending Oct. 31, 2020. The suspension remained in place for over four years as the company failed to meet additional disclosure obligations, including annual reports for fiscal years 2020 through 2023, quarterly reports covering the periods from Jan. 31, 2021, to July 31, 2023, and April 30, 2025
“Given the company’s compliance with the above-mentioned structured reportorial requirements of the Exchange, the trading of IS shares will resume on July 7, 2025 at 9 a.m.,” the PSE said
Upon resumption of trading, the static threshold or trading band, a mechanism that limits sudden price fluctuations, will be lifted, allowing the market to freely determine the initial price of IS shares.
This is in accordance with Article VII, Section 6 of the Revised Trading Rules of the Exchange, which applies in cases of extended suspensions.
Prior to the trading suspension IITI’s shares were trading at P0.144 per share.
IITI was incorporated on Dec. 10, 1959 as Island Oil Company to primarily engage in oil exploration and mineral development projects. Due to losses incurred, the management decided to shift its oil exploration activities to metal mining in the province of Isabela.
In 2000, the Securities and Exchange Commission (SEC) approved another change in the company’s corporate name to its present name, and the change in its primary purpose to information technology.