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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.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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