PSE opens nomination for 2014 Board Elections
The Philippine Stock Exchange (PSE) will be accepting nominations for the election of its Board of Directors from March 10 until 12:00 noon of March 19, 2014.
Interested parties may check the nomination rules, qualifications of nominees as well as download the nomination forms from the PSE website at www.pse.com.ph.
The PSE Board of Directors is comprised of fifteen directors with a term of one year. The board composition includes one President-Director, not more than seven Broker-Directors, and at least seven Non-Broker Directors. For the Broker-Directors, at least one but not more than two must be a Category B Broker while the rest should be Category A Brokers. Category A Brokers are those with combined volume/value of trade and paid-up capital total of Php5.6 billion and above. Category B Brokers are those with combined volume/value of trade and paid-up capital total below Php5.6 billion. Meanwhile, the Non-Broker Directors should be comprised of three independent directors and four directors who will represent the interest of Issuers, Investors and Other Market Participants, with at least one representation from each sector.
The election of the PSE Board will be held on May 24, 2014 at the Exchange’s annual stockholders’ meeting.
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