PSE to involuntarily delist Philab Holdings on July 11

THE PHILIPPINE Stock Exchange, Inc. (PSE) is set to involuntarily delist the shares of healthcare firm Philab Holdings Corp. on July 11 due to noncompliance with the exchange’s rules.

“The delisting of the company’s shares shall take effect 30 calendar days from the date hereof or on July 11, 2025,” PSE President and Chief Executive Officer Ramon S. Monzon said in a document dated June 11 posted on the market operator’s website.

“Please be informed that, following the conduct of involuntary delisting proceedings involving the company, the exchange resolved to delist the company’s shares from the official registry of the exchange and impose the concomitant penalties under the exchange’s delisting rules,” he said.

Trading in Philab’s shares has been suspended since May 2018 after the PSE rejected the company’s 2017 annual report due to its receivables from the Department of Education.

The company has received additional sanctions from the PSE for its failure to comply with the submission of required filings, such as quarterly and annual reports.

One of the grounds for delisting is the repeated failure of the company to make “timely, adequate, and accurate” disclosures of information or to submit any reportorial requirement.

Incorporated in 2000, Philab is listed on the small, medium, and emerging board of the PSE. The company, formerly known as iRipple, Inc. and later as Alterra Capital Partners, Inc., was renamed Philab after Alterra Capital acquired a 93.48% interest in healthcare and life science equipment supplier Philab Industries, Inc. in 2016. — Revin Mikhael D. Ochave