SEC chooses to be silent on CAP's submission of subscription pact

by The Manila Times

Oct 01, 2004 7:47 am

THE Securities and Exchange Commission (SEC) was silent on whether or not the College Assurance Plan (CAP) beat the deadline in submitting the subscription agreement late Thursday afternoon.

The agreement pertains to the infusion of P13 billion in its trust funds to meet its financial obligations. The documents will be the basis of the SEC's decision whether or not CAP should continue with its dealership.

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