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.