ABS-CBN Corp. announced Thursday it was again moving its annual stockholders’ meeting, this time to August 19 from the previously scheduled July 24, to give shareholders more time to nominate candidates for the company’s board of directors.
This is the second time this year that ABS-CBN had deferred its annual stockholders meeting.
In a regulatory filing on Thursday, the listed media company said its board approved moving the annual meeting to August 19 as it had yet to receive nominations for the incoming board.
The deferment gives stockholders more than three weeks of additional time to submit nominations for the company’s incoming board of directors.
ABS-CBN had first deferred its annual stockholders meeting to July 24 over a governance dispute within the Lopez family.
The dispute had drawn regulatory attention after the Securities and Exchange Commission formed a special committee to handle complaints related to the Lopez Group of Companies, including allegations involving ABS-CBN and several of its officers.
The media company has said it would address the issues through the appropriate legal process.
ABS-CBN shares on Thursday surged P0.23, or 9.16 percent, to close at P2.74 each amid a 0.93 percent advance of the benchmark Philippine Stock Exchange index.
