Tiu-led I-Remit Inc. has approved the sale of its entire interest in Global Hapimart E-commerce Inc. (GHEI) for P1.5 million.
During an emergency meeting held on April 30, the company’s board of directors authorized the divestment of 599,995 common shares, representing 100% of the issued and outstanding capital stock of GHEI.
The shares, which have a par value of one peso each, will be sold to two Filipino investors, Barbara April C. Tiu and Bernice Kathleen C. Tiu, I-Remit said in a regulatory filing.
Under the board-approved terms, Barbara will acquire 299,995 shares, while Bernice will purchase 300,000 shares.
The transaction was cleared by the remaining directors along with a temporary board.
The sale and transfer of the shares will be finalized under a Deed of Absolute Sale of Shares.
The divestment allows I-Remit to exit the e-commerce entity as it manages its broader corporate portfolio. Both buyers are residents of Makati City.
