PhilWeb Corporation acquired Umiac Inc. from Arlene Lato Ching, Perry Weinne S. Lato, Kenneth Lato, Sy Pierre Watson S. Lato, Stacey Reyes Lato and Palmary Corporation for PHP 35 million.
March 07, 2021
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PhilWeb Corporation (PSE:WEB) executed deed of sale to acquire Umiac Inc. from Arlene Lato Ching, Perry Weinne S. Lato, Kenneth Lato, Sy Pierre Watson S. Lato, Stacey Reyes Lato and Palmary Corporation for PHP 35 million on March 8, 2021. As per the transaction, consideration is payable in cash on execution of the deed of sale. PhilWeb Corporation will be acquiring 8.636 million shares for PHP 4.05 price per share. Palmary Corporation holds 8,635,995 shares and Arlene Lato Ching, Perry Weinne S. Lato, Kenneth Lato, Sy Pierre Watson S. Lato, Stacey Reyes Lato holds 1 share each in Umiac Inc. In a related transaction, PhilWeb Corporation is acquiring16 electronic bingo companies and 1 electronic bingo machine supplier companies from Palmary Corporation. The transaction is approved by Board of Directors of PhilWeb Corporation.
PhilWeb Corporation (PSE:WEB) completed the acquisition of Umiac Inc. from Arlene Lato Ching, Perry Weinne S. Lato, Kenneth Lato, Sy Pierre Watson S. Lato, Stacey Reyes Lato and Palmary Corporation on March 8, 2021.
PhilWeb Corporation is a Philippines-based company, which is engaged in developing, designing, building, operating, and managing gaming systems, applications, and operating platforms and facilities. It also manages online system computer systems, terminals, servers, and routers together with interconnecting and interlinking the telecommunications systems. The Company's subsidiaries include PhilWeb Casino Corporation, XO Corporation, PhilWeb Asia-Pacific Corporation, Premyo Sa Resibo, Inc., BigGame, Inc., PhilWeb International Gaming Corporation, PhilWeb Leisure & Tourism Corporation, PhilWeb Mobile Lottery Corporation, NDM Bingo Center 7, Inc., NDM Bingo Center 1, Inc., NDM Bingo CenterTomas Morato, Inc., NDM Bingo Center Visayas, Inc., PhilWeb Tourism & Entertainment Corporation, PhilWeb Software Corporation, PhilWeb Celebrity Corporation, PhilWeb Convergence Corporation, PhilWeb Cyberworld Corporation, and others.
PhilWeb Corporation acquired Umiac Inc. from Arlene Lato Ching, Perry Weinne S. Lato, Kenneth Lato, Sy Pierre Watson S. Lato, Stacey Reyes Lato and Palmary Corporation for PHP 35 million.
PHILWEB CORPORATION 
