Ann: OceanaGold Announces Third Quarter 2013 Resu, page-13

re: Ann: OceanaGold Announces Third Quarter 2...
http://www.interaksyon.com/business/43555/oceanagold-to-list-in-pse-by-next-year

MANILA - Australian miner Oceana Gold (Philippines) Inc. will be conducting its maiden share offering after its Didipio gold project becomes operational next year.

Jose Leviste, OceanaGold Phils. chairman, said the listing with the Philippine Stock Exchange will push through after the first quarter next year.

"We want to comply with the BOI, which requires all BOI-registered companies to list in the PSE," he said.

"We also want to be a model for green mining company," he added.

Under Rule 8 on Public Participation Requirement under the Omnibus Investments Code, the Board of Investments stated that a registered enterprise, unless exempted, should offer to the public 10 percent of its total subscribed capital stork within 10 years from date of registration.

BOI, however, has difficulty implementing the provision because of previous interpretation that this is merely directional in nature. Because ot this, the BOI can only urge registered firms to list in the local bourse.

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