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PhilWeb appoints Lance Gokongwei chairman after leadership transition

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PhilWeb appointed Lance Y. Gokongwei as board chairman, replacing Crisanto Roy B. Alcid, who relinquished the chair and chief executive roles effective 27 August. Alcid remains a director, and Gokongwei will serve for the rest of the current term. The company said the appointment followed Gokongwei’s ₱2.02 billion strategic equity investment.

The appointment gives a new chairman oversight as PhilWeb pursues its technology business strategy.

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PhilWeb completes PHP1.01bn treasury-share sale to JKS Tech

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.

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