Key Developments: Semirara Mining Corp (SCC.PS)
279.00PHP
20 May 2013
Php-1.00 (-0.36%)
Php282.00
Php279.00
Php284.60
Php279.00
254,830
280,505
Php305.80
Php200.00
Latest Key Developments (Source: Significant Developments)
Semirara Mining Corp Declares Cash Dividend
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.
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
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
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
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
Semirara Mining Corp. Announces Cash Dividend
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 29, 2012, and the dividend will be paid on June 25, 2012. Full Article
Semirara Mining Corp. Announces PHP 14 Billion Project Debt Facility Syndicated Term Loan
Semirara Mining Corp. announced that it has accepted the proposal for a PHP 14 billion project debt facility syndicated term loan with BDO Capital & Investment Corporation as lead arranger. The proceeds from the loan will used for design, engineering, procurement, construction and operation of the 2 x 150 MW coal fired (circulating fluidized bed) Thermal Power Plant (Phase 1). Full Article
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