THE Wenceslaos integrated their shares in D.M. Wenceslao & Associates, Inc. (DMW) under the family’s wholly owned holding company, WHC, Inc.
DMW said in a disclosure on Monday that it was done through a block sale transaction involving 578,798,847 shares of DMW Chairman Delfin J. Wenceslao, Jr. These were sold to WHC for P6.80 each on July 1.
“The transaction was conducted primarily for estate planning purposes and the aggregate ownership of the Wenceslao family in DMW was not affected,” listed DMW said.
It increased the family holding company’s ownership in DMW by 17.04% to 79.96%.
“We note that the transaction will not result in dilution and will not affect DMW’s public float,” the company said.
On Tuesday, shares of DMW at the local bourse went up by 0.56% or four centavos to end at P7.19 each. — Keren Concepcion G. Valmonte
