In its executive session held on December 19 2011, the Securities and Exchange Commission resolved to approve the Philippine Stock Exchange's Amended Rule on Minimum Public Ownership. The Amended Rule, which took effect on January 1 2012, was issued in response to the position of the Bureau of Internal Revenue on the tax treatment of sales, barters or exchanges of shares of stock of listed companies that do not satisfy the minimum public ownership requirement.
March 29 2012