Alphaland statement on PSE’s initiation of delisting process:
“Mr. (Roberto) Ongpin is in Italy and has not yet seen any of these statements.
However, Atty. Rodolfo Ponferrada, Corporate Secretary, clarified that the PSE has not “delisted” Alphaland. The PSE decision includes fining Alphaland for late disclosure, additional one-month suspension of trading, “initiation” of delisting procedure (which in the appeal process might take many years to resolve), and the disqualification of Atty. Ponferrada as Corporate Information Officer.
Alphaland believes that this PSE decision is grossly unfair to it and intends to appeal it.”