PhilWeb Corporation acquired NDM Bingo Center Blumentritt, Inc from Stacey Reyes Lato, Sy Pierre Watson S. Lato, Perry Weinne S. Lato, Kelvin John F. Alibarbar, Charmaine Nicolette Alibarbar and Palmary Corporation for PHP 15.5 million.
March 07, 2021
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PhilWeb Corporation (PSE:WEB) acquired NDM Bingo Center Blumentritt, Inc from Stacey Reyes Lato, Sy Pierre Watson S. Lato, Perry Weinne S. Lato, Kelvin John F. Alibarbar, Charmaine Nicolette Alibarbar and Palmary Corporation for PHP 15.5 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 5 million shares for PHP 3.1 per share. Palmary Corporation holds 4.35 million shares, Stacey Reyes Lato, Sy Pierre Watson S. Lato, Perry Weinne S. Lato and Charmaine Nicolette Alibarbar holds 0.05 million shares each and Kelvin John F. Alibarbar holds 0.45 million shares in NDM Bingo Center Blumentritt, Inc. In related transactions, PhilWeb Corporation is acquiring 15 other electronic bingo companies and 2 electronic bingo machine supplier companies from Palmary Corporation. The combined deal value for NDM Bingo Center Blumentritt, Inc and other 15 electronic bingo companies is PHP 450 million and deal value for 2 accredited electronic bingo machine supplier companies is PHP 280 million. The transaction is approved by Board of Directors of PhilWeb Corporation.
PhilWeb Corporation (PSE:WEB) completed the accquisition of NDM Bingo Center Blumentritt, Inc from Stacey Reyes Lato, Sy Pierre Watson S. Lato, Perry Weinne S. Lato, Kelvin John F. Alibarbar, Charmaine Nicolette Alibarbar 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 NDM Bingo Center Blumentritt, Inc from Stacey Reyes Lato, Sy Pierre Watson S. Lato, Perry Weinne S. Lato, Kelvin John F. Alibarbar, Charmaine Nicolette Alibarbar and Palmary Corporation for PHP 15.5 million.
PHILWEB CORPORATION 
