Brief: Pharol Sentenced To Single Penalty Of 1 Mln Euros By Portuguese Watchdog CMVM

Pharol SGPS SA

17/03/2020 07:31

March 17 (Reuters) - Pharol SGPS SA  PHRA.LS :
    * INFORMED ON MONDAY ON DECISION TAKEN IN ADMINISTRATIVE
OFFENCE
PROCEEDING INITIATED BY THE PORTUGUESE SECURITIES COMMISSION
(CMVM)
    * PHAROL WAS SENTENCED TO A SINGLE PENALTY OF 1 MILLION
EUROS, AND
CMVM DECIDED TO PARTIALLY SUSPEND THE PENALTY, IN THE AMOUNT OF
750,000 EUROS, FOR A PERIOD OF TWO YEARS
    * IF PHAROL DOES NOT APPEAL, WHICH IS UNDER STUDY, THE FINE
TO BE
PAID WILL BE LIMITED TO 250,000 EUROS
    * THIS PROCEEDING WAS INITIATED BY CMVM AGAINST PHAROL AND
SEVERAL
FORMER DIRECTORS, AS THE DISCLOSURE OF CONSOLIDATED REPORTS FOR
2012 AND 2013, Q1 2014 AND CORPORATE GOVERNANCE REPORTS FOR 2012
AND 2013 DID NOT COMPLY WITH THE INFORMATION REQUIREMENTS,
REGARDING THE INFORMATION ON INVESTMENTS MADE IN DEBT ISSUED BY
THE ESPÍRITO SANTO GROUP

    
 Source text: https://bit.ly/2Wjbofd  
 
 Further company coverage:  PHRA.LS  
   


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