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Feb 6, 2017 @ 10:14

PSE fines Jollibee Foods. Find out why

The Philippine Stock Exchange has penalized Jollibee Foods Corp.

The PSE revealed that  Jollibee Foods was punished because one of its directors had a transaction involving the company’s  shares during a black out period.

A black out period can be anywhere from three to 60 days during which employees or a company are not allowed to make changes to their retirement or investment plan while major changes are being made to the plan. D

irectors and executive officers of an issuer are prohibited from buying or selling shares of their company during a blackout period.

The PSE made the announcement on February 3, 2017 but it did not identify the director nor did it say who among Jollibee Foods’ directors was responsible.

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