Philippine Daily Inquirer - - BUSINESS - By Karl R. Ocampo @ko­cam­poINQ

An Aus­trian trader is set to file a case against the Philip­pine Stock Ex­change (PSE) and di­rec­tors of agri­cul­ture prod­ucts dis­trib­u­tor Calata Corp. (CAL) for pub­lish­ing a dis­clo­sure with the in­ten­tion to “de­stroy” his rep­u­ta­tion. Al­fred Reit­erer, rep­re­sent­ing some mi­nor­ity share­hold­ers of Calata, said he would file a case sim­i­lar to li­bel in an Aus­trian court if the dis­clo­sure would not be taken down. Reit­erer got into a tus­sle with Ca- lata for help­ing mi­nor­ity share­hold­ers de­manda “fair” ten­der of­fer from the lat­ter af­ter it sold its 81-per­cent stock to seafood and aqua­cul­ture firm Mil­len­nium Global Hold­ings Inc. (MGHI). In a let­ter ad­dressed to PSE pres­i­dent Ramon Mon­zon, Reit­erer said the lo­cal bourse never re­quested any proof from CAL of its “ma­li­cious state­ments,” where he was said to be forc­ing share­hold­ers to buy back their shares in ex­change for 30 per­cent of the to­tal col­lec­tion that would be se­cured. Reit­erer said these share­hold­ers en­gaged the ser­vices of Sedigo and As­so­ciates Law Of­fices on their own, wherein the le­gal coun­sel would re­ceive a suc­cess fee of P3.06 per share on the con­di­tion that the shares would be sold. “I will au­tho­rize my le­gal coun­sel to file a case against all in­volved par­ties with the rel­e­vant courts in Aus­tria in ac­cor­dance with Sec. 111, 115 and 152 of the Aus­trian crim­i­nal code and on grounds of defama­tion of char­ac­ter and/or dis­credit un­der Sec. 1330 of the Aus­trian Civil Code,” the let­ter said. “By al­low­ing Calata Corp. to use the web­site of PSE as a pub­lic plat­form in their char­ac­ter as­sas- sina­tion, the PSE be­came a part­ner in crime be­cause of the gross ne­glect of duty to ask Calata Cor­po­ra­tion for clar­i­fi­ca­tion,” it added. In the dis­clo­sure in ques­tion, Calata said it re­ported Reit­erer to the Bu­reau of Im­mi­gra­tion and the Na­tional Bu­reau of In­ves­ti­ga­tion and urged them to look into the for­mer’s crim­i­nal records. “Mr. Reit­erer and his com­pan­ions shall not use the cur­rent pro­ceed­ings of Calata Cor­po­ra­tion to take ad­van­tage of and make an il­le­gal profit from un­sus­pect­ing share­hold­ers,” it noted.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.