Are BHI and Calata taking the public for granted?

I - jority stockholders of a listed com them control of the board.

never been allowed to elect their nominees to the board of any listed company. They are portrayed only as the controlling stockholders in a (POR).

Calata Corp. (CAL) are only two examples of listed companies that make owners. Never mind that even if their common shares are listed on the Philippine Stock Exchange (PSE), they are

Does this mean the ownership website have long been lying to the Commission (SEC), the body vested over the exchange, which is a self

shares to save on tax payment with not to share ownership with inves- a stock corporation listed.

Ownership profiles

- common shares, or 44.329 percent, - billion common shares, representing

Calata did not show their principal stockholders in their PORs. Instead, they listed the members of the board either as direct or indirect stockholders.

common shares, or 44.306 percent. The board’s holdings, added to 2.75 - percent. The total represents the non

As of Oct. 4, six directors of Calata owned 219.406 million CAL common

shares, or 38.469 percent.

On the other hand, Calata’s of 350.935 million CAL common shares, or 61.531 percent.

Significant stockholders

- standing CAL common shares, company’s board.

Yet, they don’t, for reason known only to Calata insiders.

- - ing not necessarily its majority stockholders. Nevertheless, the company’s POR made them sig

- not been telling the SEC and the long been tolerating their reports in their POR.

of ownership that gives the - tors are either the principal or controlling stockholders, is not - ings and Calata. It will take time to review all the PORs on the that they are being taken for a ride by listed companies.

companies are never going to be the majority or controlling stockholders. The families who own these listed companies will never

Due Diligencer’s take

As has often been reported in this space, wrong entries in PORs of listed companies are not a monopoly of a certain company, or Calata. A few other listed companies do the same as shown by their

- geration in the PORs that may have been committed by some listed companies. If these postings principal stockholders, something PSE-listed companies telling the asking.