PhilWeb appointed Lance Gokongwei and Aldous Brigino to its board, the company said in a filing. Their appointments followed the departures of Susana Fong and Ismael Augusto S. Gozon; Brigino will serve as a non-executive director.
The appointments change the composition of the board at a gaming technology company operating in the Philippines.
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PhilWeb appointed lawyer Marie Antonette “Tonet” B. Quiogue as an independent director, with the changes taking effect on 5 March. The company said its board also accepted four directors’ resignations in connection with obligations under a share purchase agreement involving Gregorio Araneta Inc., Nexora Holdings Inc. and Velora Holdings Inc.
PhilWeb completed the sale of nearly 61.04 million treasury shares to JKS Tech Solutions for just over PHP1.01bn, at PHP16.50 per share. The transaction, completed on 30 October, forms part of a wider cross-investment arrangement; PhilWeb said the sale proceeds would partly fund its investment in JKS Tech.
PhilWeb Corp said it has completed the sale of nearly 61.04 million treasury common shares to JKS Tech Solutions Inc for just over PHP1.01bn (US$15.9m). In a filing, PhilWeb said this exercise was completed on 30 October and priced the shares at PHP16.50 each. The sale falls under a cross-equity deal that was first announced in September.
JKS Tech Solutions has partnered with MegaWin on gaming content in the Philippines, according to a report. PhilWeb Corporation recently agreed to acquire a 30% stake in JKS Tech Solutions, the report said.
PhilWeb said it is preparing to supply MegaWin digital casino games to Philippine gaming operators under an exclusive partnership, targeting a fourth-quarter 2026 rollout. The offering is intended for casino resorts and domestic gaming platforms, with software designed to connect to partner backend networks.
PhilWeb and its wholly owned subsidiary PhilWeb Capital have agreed to invest a combined nearly PHP4.23bn in JKS Tech Solutions in the Philippines, citing PhilWeb's Monday filing. JKS Tech Solutions administers gaming systems and holds accreditation from the country's casino regulator.