C04462-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 4,250,547,620 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
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Dismissal of the Complaint |
Background/Description of the Disclosure |
We refer to the case for illegal dismissal docketed as “Jose Roberto C. Cabili, Complainant vs. Semirara Mining and Power Corp., Cristina C. Gotianun, and Almar G. Valdemar, Respondents, RAB Case No. VI-08-10689-22, National Labor Relations Commission, Bacolod City.” In November 2022, Semirara Mining and Power Corporation (SMPC) disclosed that it received a copy of the complaint/summons dated August 30, 2022 and that SMPC shall file the necessary pleadings before the Labor Arbiter considering the termination from employment is based on just cause. |
Name of the court or agency in which the proceedings are pending | National Labor Relations Commission, Bacolod City |
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Date Instituted | Aug 30, 2022 |
Docket Number | RAB Case No. VI-08-10689-22 |
Principal Parties |
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Jose Roberto C. Cabili, Complainant vs. Semirara Mining and Power Corp., Cristina C. Gotianun, and Almar G. Valdemar, Respondents |
Nature and description of the legal proceedings |
The termination from employment is based on just cause, after being involved in an accident resulting in damages to the company equipment due to his gross negligence. |
The effect(s) on the Issuer's business or operations, if any |
It does not have any effect on its business or operations. |
Other Relevant Information |
Today, we received a copy of the Decision to the above-mentioned case dated January 31, 2023, the dispositive portion of which states: “WHEREFORE, premises considered, judgment is hereby rendered: DISMISSING the Complaint for illegal dismissal and money claims for lack of factual and legal basis.” |
Name | John Sadullo |
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Designation | Vice President - Legal and Corporate Secretary |