Good day Sir Hans Sicat:

I am writing regarding the suspension of SPC after it went below the minimum float.
I think sir na kailangan nang baguhin ang punishment/penalty for those companies
whose float goes below minimum. The reason is that it is not the company that
suffers, but the public investors, the small investor who bought SPC. It is ironic that
the penalty that should affect the company and protect the public is instead doing
more harm to the public investors.
It is because by suspending the trading of SPC, the small investors who want to get
out of SPC cannot do so because of the suspension. Their hard earned money in the
meantime do not earn them anything, and is held hostage due to the suspension.
The company even doesnt exert any effort to increase the public float. They do not
mind the suspension as well as paying cash penalties.
Why punish us, the small public investors for the wrongdoings of SPC? I suggest a
better deterrent and penalty that will compel SPC to increase the float immediately.
I suggest to penalize SPC and other companies whose float goes below minimum
EVERY MONTH that they CONTINUE to be below the minimum. That way, if they
dont want to continually pay the monthly penalty, then they will exert effort to
increase the float, instead of what they are doing now which is ignoring their
suspension.
Also this happened similarly with a company of Ongpin where they delisted after the
suspension and offered the public investors a small amount in their tender offer.
That is what happens in a suspension, the small time public investors are the ones
who suffer.
Sincerely,
Jovy Escalante (SPC investors)