Indirect holdings

Indirect holdings

SingTel’s forty seven.19 percentage possession in Globe translate to oblique ownership of 23.595 percentage in Vega Telecom at the same time as PLDT owns the complete 50 percent.

Yes, the sharing of ownership in Vega Telecom is 50:50, which means that 50 percentage for Globe Telecom and 50 percentage for PLDT. The query is how this 50:50 ratio would be defined when it comes for representation in the Vega’s board. Who will represent Globe Telecom?

In the case of PLDT, no doubt might be asked about board representation. Being Indonesian-owned, PLDT, at the side of NTT, may additionally allocate to them majority holdings in Vega Telecom, relegating Globe Telecom to minority representation on the board of Vega Telecom.

How approximately the general public? Globe Telecom mentioned the public as holders of 29.237 million not unusual stocks, or 22.02 percent. Does this ownership suggest they are entitled to as a minimum a nominee to the board? Not in any respect.

Meanwhile, the general public can handiest await the very last sharing of possession in Vega Telecom between Globe Telecom and PLDT. The trouble is, being a stockholder of Liberty Telecoms, Vega Telecom may not be protected by means of the overall disclosure rule.

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