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PHILWEB SEEKS VOLUNTARY SUSPENSION OF TRADING
Monday July 4,2016 : PHILWEB SEEKS VOLUNTARY SUSPENSION OF TRADING
With a share price plunging as a result of president Rodrigo Dutertes diatribe against online gambling, online gambling firm asks for a three day hiatus.
The Philippine online gambling group PhilWeb Corp., reeling from a more than 22 percent plunge in its share price, thanks to anti-online gambling comments from the new president of the country (see previous InfoPowa reports), has asked the Philippine Stock Exchange for a voluntary three-day suspension in trading on its shares.
“In view of unverified material information affecting the business of PhilWeb Corporation that will materially affect the investing public, we hereby request for a trading suspension in PhilWeb shares from 4 July 2016 to 6 July 2016,” Raymund S. Aquino, PhilWeb corporate information officer, said in a letter to the Philippine Stock Exchange Monday.
InfoPowa readers will recall that on the presidents orders, online licensor Philippine Amusement and Gaming Corporation has placed a moratorium on the issue of any licenses....and Philwebs contract with PAGCOR expires on July 11 this year.
PhilWeb currently operates a network of 268 PAGCOR e-Games cafes with a total of 8,839 gaming terminals nationwide.
The company is also concerned that the rapid decline in its stock price could impact its plan to raise P6 billion through the sale of Treasury shares, which may also be in danger following the presidents declarations and directives
Last month, PhilWeb announced it would make a private placement of up to 300 million shares at a discount to market but in no case less than P20 per share.
“The private placement will result in PhilWeb receiving cash and receivables of at least P6 billion. With this war chest, the company will have the ability to go on an aggressive expansion program,” PhilWeb said.
The 300 million shares is equivalent to a near 20 percent stake in the company, local observers have noted.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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