The company has outlined a three-year capital restoration plan running through 2027.
The Philippines.- PhilWeb Corporation has responded to a query from the Philippine Stock Exchange (PSE) regarding its negative stockholders’ equity position. It’s submitted an updated recovery plan and confirmed continued compliance with regulatory disclosure requirements.
The PSE had raised concerns over the company’s annual report for the year ended December 31, 2025, and its quarterly filing for the period ended March 31, 2026. PhilWeb reported that its total equity remained negative at Php 240.5m (US$3.95m) as of March 31, 2026, improving from Php 254.4m (US$4.18m) as of December 31, 2025.
In a disclosure filed with the PSE on Monday, April 27, PhilWeb clarified that the negative position was primarily due to the accounting treatment of treasury shares and does not reflect operational performance. The company has outlined a three-year capital restoration plan running through 2027. This includes stockholder subscription to 923.6 million unissued shares, a proposed increase in authorised capital stock from Php 2.6bn (US$42.72m) to Php 9.0bn (US$147.87m) to provide additional fundraising capacity and the reissuance of 300.4 million treasury shares, subject to market conditions and regulatory approval.
The company noted that its share price had reached as high as Php 12.86 (US$0.21) in 2026, above acquisition cost levels, which it said supports the feasibility of the reissuance strategy. PhilWeb also said it is pursuing new growth initiatives, including gaming content launches, platform expansion and potential integration with GCash.
It cited cost reduction initiatives to improve margins and cash efficiency, including the closure of six non-performing gaming sites, which generated monthly savings of about Php 2.0m (US$32,860). The company said it continues to conduct monthly performance reviews of its remaining sites to identify further underperforming operations.
PhilWeb added that expanding its e-Gaming Solutions segment has helped improve margins due to a lower cost base, generating Php 79.3m (US$1.30m) and accounting for about 34 per cent of total revenue in the first quarter of 2026.
The company has outlined a three-year capital restoration plan running through 2027. The Philippines.- PhilWeb Corporation has responded to a query from the Philippine Stock Exchange (PSE) regarding its negative stockholders’ equity position. It’s submitted an updated recovery plan and confirmed continued compliance with regulatory disclosure requirements. The PSE had raised concerns over the company’s…
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