C06808-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 16,235,000,000 |
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Subject of the Disclosure |
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Issuance of shares in the Corporation's subsidiary |
Background/Description of the Disclosure |
DITO CME Holdings Corp. (“DITO CME”) wishes to disclose that its subsidiary, DITO Holdings Corporation (“DITO Holdings”), a corporation that is owned 89.46% by DITO CME (though its subsidiary Udenna Communication Media and Entertainment Holdings Corp.), has issued 2,242,510,277 shares to Summit Global Ltd., an entity organized and existing under the laws of the Cayman Islands, at a consideration of Php 1.00 per share. The issuance of new shares at DITO Holdings amounts to approximately 18.5% of its issued and outstanding capital stock. After such issuance, DITO CME shall own 72.91% of DITO Holdings. |
Other Relevant Information |
With regard to the effect of the issuance of shares on the business and financials of the Company, the proceeds from such issuance of shares were used to fund the additional equity requirements of its operating subsidiary, Dito Telecommunity Corp. through the payment of subscription payables of DITO Holdings to Dito Telecommunity Corp. |
Name | Alyssa Hannah Nuqui |
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Designation | Associate Legal Counsel |