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PSE extends disbursement of proceeds from stock rights offer


December 18, 2020 | 12:01 am
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BLOOMBERG/VEEJAY VILLAFRANCA
THE Philippine Stock Exchange (PSE) has extended the timeline for the use of the proceeds for its stock rights offer (SRO) to Dec. 31, 2023, the local bourse said on Thursday.
In a regulatory filing, the PSE said that it had so far disbursed 1,101.14 shares from its planned amount of 2,825.88.
It detailed that its net proceeds were meant to be used for acquisition of the Philippine Dealing System (PDS), product development and working capital requirements at 1,580 shares, 360 shares and 885.88 shares, respectively.
“This directive is being issued primarily for the purpose of ensuring the timely disclosure of information relating to PSE as a listed company and should not be construed as an approval by the (Securities and Exchange) Commission,” the PSE disclosed. ....

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On December 8, 2020, the U.S. House of Representatives approved final passage of a $740.5 billion annual defense policy bill, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (“National Defense Authorization Act” or “NDAA”), by a vote of 335-78-1, a veto-proof majority. Following a filibuster on December 10, on December 11, the U.S. Senate approved the NDAA by a vote of 84-13, also a veto-proof majority. The bill now heads to the President for his signature, who has threatened a veto because the bill does not include a repeal of Section 230 of the Communications Decency Act. Passage of the NDAA marks the 60th consecutive year that the Congress has adopted this legislation, which the Chairman and Ranking Member of the Senate Armed Services Committee noted “fulfills our most important constitutional duty: to provide for the security of this nation and the men and women w ....

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