Prime seals MoA with Philippine Collective Media

by The Manila Times

Aug 12, 2021 12:15 am

PRIME Media Holdings Inc. (PRIM) has signed a memorandum of agreement (MoA) with Philippine Collective Media Corp. (PCMC), which signifies PCMC Shareholders' subscription to 1,679,966,400 PMHI common shares to be paid in the form of PCMC shares, based on third-party appraisal valuation.

The MoA will require PMHI to increase its authorized capital stock by at least P2 trillion which will be the source for the shares that PCMC Shareholders' will subscribe to.

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