The Securities and Exchange Commission allowed listed Manila Bulletin Publishing Corp. to continue its application for the extension of its corporate term.
Manila Bulletin said in a disclosure to the stock exchange the SEC decision was subject to the filing and submission of certain documents and payment of appropriate filing fees within 15 days.
“The company is preparing the documents as required anew by the SEC for submission to the SEC’s company registration and monitoring department,” Manila Bulletin said.
The Philippine Stock Exchange on Sept. 29 suspended the trading of Manila Bulletin shares as the amended articles of incorporation approved by the SEC on Dec. 16, 2014 had not indicated any extension of its 50-year corporate term.
Manila Bulletin earlier said it would submit with the PSE relevant information and documents to address the issue. It also asked the SEC to confirm that it had filed for an extension of corporate life.
A company without corporate life has no juridical personality under the legal system. Manila Bulletin was founded as the Daily Bulletin on Feb. 2, 1900.