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CPVDC has adopted a uniform policy on securities transactions to reinforce and formalize existing government regulations against insider trading.
Reporting of Transactions
CPVDC is compliant with the requirement of the PSE for directors and principal officers to report any acquisition, disposal or change in their shareholdings of the Company to the SEC and to report changes in ownership of company shares within five trading days.
The Company has expanded coverage of this reporting requirement to include members of the Management Committee All other officers are required to submit a quarterly report on their trades of Company shares to the Office of the Compliance Officer. |
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Trading Blackouts
The Company has adopted a policy on insider trading. Under this policy, directors, officers and employees who are considered to have knowledge of material facts or changes in the affairs of CPVDC which have not been disclosed to the public, including any information likely to affect the market price of the securities of CPVDC, are prohibited from buying or selling the Company’s securities during trading blackout periods. The policy covers the Company’s shares of stock, options to purchase stocks, bonds, and other evidence of indebtedness.
Covered persons include all members of the Board of Directors, all key officers, consultants and advisers and all other CPVDC. employees who are made aware of undisclosed material information, including members of the immediate families of key officers and covered persons.
During the year, notices of trading blackouts for structured disclosures were issued for a period covering ten (10) trading days before and three (3) trading days after the disclosure of quarterly and annual financial results. Compliance with these trading blackout periods is strictly enforced. There have been no cases of violation of the Company’s Policy on Insider Trading. |
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