Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

Premiere Horizon says court finds probable estafa case vs 2 persons

PREMIERE Horizon Alliance Corp. disclosed on Tuesday that the Pasig City prosecutor’s office found two individuals with ties to the company indictable for estafa under Article 315 of the Revised Penal Code.

In a regulatory filing, the firm said that the Office of the City Prosecutor of Pasig City issued a resolution dated Dec. 28, 2022 “finding probable cause to indict and bind for trial Augusto Antonio C. Serafica, Jr. and Marvin C. Dela Cruz for the crime of estafa.”

On Dec. 6, 2022, Premiere Horizon filed a criminal complaint for estafa against the two for “alleged misappropriation” of P32 million in corporate funds. The amount is part of the funding for Premiere Horizon’s Bonifacio Global City project.

Mr. Serafica was a member of the company’s board of directors, while Mr. Dela Cruz is a shareholder.

On Jan. 16, Premiere Horizon said that Mr. Serafica and Elizabeth C. Timbol, an independent director, tendered their resignation effective on the same date for personal reasons.

Four days earlier, on Jan. 12, George Edwin Y. Sycip, a regular director of the company, also tendered his resignation for personal reasons.

On Jan. 9, Premiere Horizon announced that Felipe A. Judan, its independent director, resigned from his position effective Dec. 31, 2022.

In the company’s latest public ownership report, Mr. Dela Cruz was reported to hold around 1.39 billion shares in Premiere Horizon, which is 24.35% of the company’s total outstanding shares.

Meanwhile, Mr. Serafica holds a total of 261.57 million shares representing 4.58% of the company’s total outstanding shares.

On Dec. 28, 2022, the corporation announced that it received physical copies of the summons from the Securities and Exchange Commission (SEC) ordering Premiere Horizon to file a verified answer to a petition filed by Mr. Dela Cruz.

The petition sought the SEC’s issuance of an order directing and authorizing Mr. Dela Cruz to call for a special stockholders’ meeting. It also sought a sanction for the “continued refusal [of Premiere Horizon, its board of directors and officers] to hold a special stockholders’ meeting.

At the stock exchange on Tuesday, Premiere Horizon shares fell by 7.32% to close at P0.38 each. — Justine Irish D. Tabile

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Editor's Pick

The Board of Investments (BoI) has cleared Sinoma Energy Conservation (Cebu) Waste Heat Recovery Co. Inc. to serve as the operator of a 4.5-megawatt...

Economy

In the wake of Covid-19, people are working harder than ever. While many of us thought productivity may dip when we started working from...

Economy

Few individuals can resist the temptation to try before they buy; therefore, it was only a matter of time until online casinos realized this...

Economy

For more than half a decade, the CBD edibles market has been on the rise. Due to these items’ beneficial formulas, people came to...

Disclaimer: SecretsOfRichDads.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.