Key Developments: Semirara Mining Corp (SCC.PS)

SCC.PS on Philippine Stock Exchange

419.00PHP
21 Apr 2014
Price Change (% chg)

Php11.00 (+2.70%)
Prev Close
Php408.00
Open
Php403.60
Day's High
Php419.00
Day's Low
Php403.60
Volume
134,850
Avg. Vol
319,651
52-wk High
Php419.00
52-wk Low
Php222.60

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Latest Key Developments (Source: Significant Developments)

Semirara Mining Corp announces declaration of stock dividends
Friday, 7 Mar 2014 

Semirara Mining Corp:Says the Board approved, subject to stockholders’ approval, the declaration of stock dividends amounting to 712,500,000 Philippine pesos, divided into 712,500,000 shares at the par value of 1.00 Philippine pesos per share, or two common shares for every one common share held.From the unrestricted retained earnings of the Corporation as of December 31, 2013, and to be issued from the increase in the authorized capital stock of the Corporation.No fractional shares shall be issued and the value of any fractional shares shall be paid to the stockholders in cash at the closing price of the Corporation’s shares as of the record date.  Full Article

Semirara Mining Corp Declares Cash Dividend
Tuesday, 30 Apr 2013 

Semirara Mining Corp announced that the Board of Directors has approved the declaration of cash dividend of PHP 12.00 per share. The record date is May 17, 2013, and the dividend will be paid on May 29, 2013.  Full Article

Semirara Mining Corp. Incorporates Semirara Energy Utilities Inc.
Thursday, 21 Feb 2013 

Semirara Mining Corp. announced that it has received a copy of Semirara Energy Utilities Inc.'s Articles of Incorporation and By-Laws, a wholly owned subsidiary of the Company, approved by the Securities and Exchange Commission on February 18, 2013. The new company was incorporated to perform Qualified Third Party (QTP) function pursuant to Electric Power Industry Reform Act 2001 (EPIRA). Department of Energy defines QTP as an alternative electric service provider authorized to serve remote and unviable areas pursuant to Section 59 of the EPIRA law. The new company intends to act as the QTP over Barangays of Semirara, Tinogboc and Alegria, all in Semirara Island, Caluya, Antique.  Full Article

Semirara Mining Corp. Updates On Pani-an Site Incident
Tuesday, 19 Feb 2013 

Semirara Mining Corp. announced that its mining operations at the Pani-an site remain suspended as the Company and government authorities continue its search and retrieval efforts for the five missing mining personnel. To aid these efforts, sniffing canines have been called in through the Office of the Civil Defense. Further, the Company has guaranteed financial, employment, scholarship and livelihood assistance to the families of those involved. Despite the temporary halt in its mining operations at the Pani-an site, the Company continues to service its supply contracts to its customers using its stockpile.  Full Article

Semirara Mining Corp. Secures Coal Service Contract From Department Of Energy
Tuesday, 12 Feb 2013 

Semirara Mining Corp. announced that the Company has secured coal service contracts for Areas 9 (Oriental Mindoro) and 25B (Sarangani) by the Department of Energy.  Full Article

Semirara Mining Corp. Announces Result Of Lawsuit
Monday, 21 May 2012 

Semirara Mining Corp announced that in connection with the case docketed as “Engr. Inocentes R. Bornea, Jr., Complainant, vs. Semirara Mining Corp., et. al., Respondents, NLRC Case No. RAB-XI-11-00663-11, NLRC, Regional Arbitration Branch No. XI, Davao City,” the Company received a copy of the Decision dated April 24, 2012 dismissing the complaint for lack of merit. However, the Company, thru its corporate officers, was ordered to pay complainant Inocentes R. Bornea separation pay by way of financial assistance equivalent to his one month salary of PHP 40,000 and reimbursement of his actual relocation expenses amounting to PHP 8,459.68. The complaints against individual respondents: George G. San Pedro, Ruben P. Lozada, Vicente Cesar V. Malig, Gerry M. Marcellana, Balfredo R. Frangue, Engr. Felix T. Occena, MLA Bentayo, Jaime D. Tutor, Jesus B. Coronel, and Ceferino Baton are dismissed for lack of merit.  Full Article

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