LISTED information technology-related services firm EasyCall Communications Philippines Inc. (ECP) said Monday that its board had approved the sale of its 3.8-percent stake in Eperformax International Inc. (ePI) to TDG Ventures, Inc. (TVI) for approximately P44.93 million via a share sale agreement.
LISTED information technology-related services firm EasyCall Communications Philippines Inc. said Monday that its board had approved the sale of its 3.8-percent stake in Eperformax International Inc. to TDG Ventures, Inc. for approximately P44.93 million via a share sale agreement.ECP told the stock exchange that its board of directors last Friday approved the sale of 22.09 million ePI shares at a price of P2.03 apiece, double the acquisition price of P19.2 million.
''Management believes that the cash flow generated from this transaction may provide further cash resources to support current and potential future expansion in core strategic operating areas or other priority cash requirements,' it added.TVI is a domestic corporation that owns 82.65 percent of the outstanding capital stock of Easycall, which also owns 11.76 percent of TVI.
Exits Epi Sells Stake For P45M
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