LBC Express Receives Show Cause Over Delayed 2021 Report

MT Newswires Live

Sep 30

LBC Express (PSE:LBC) received a show cause letter from the Securities and Exchange Commission's (SEC) Corporate Governance and Finance Department over an alleged one-day delay in submitting its 2021 Sustainability Report.

The regulator said that such delay may warrant penalties ranging from a reprimand to fines, according to a Tuesday Philippines Exchange filing.

The logistics company said it is reconciling its submission records and clarifying the basis of the letter with the SEC.

It plans to file its response within the prescribed period and will provide updates on further developments.

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