DITO CME Annual Shareholders Meeting

DITO CME held its Annual Shareholders’ Meeting today, 28 July 2020, under the leadership of Chairman Dennis A. Uy.

During the meeting, DITO CME Chief Operating Officer Donald Lim expressed that what happened in the last few months gave everyone new learnings about the power of digital, and new perspectives about one another.

He said: “The need for people to connect, to be informed and entertained, to engage in trade, regardless of circumstance, has become a primary basic need. We have begun to tune in to all forms of media platforms as our coping mechanism to get information and entertainment anywhere and everywhere. People have sought ways and means to communicate and transact without any physical contact or meetings.”

The DITO CME mandate is hinged on the pillars of e-services, e-payment solutions, and digital content, as it will plan to invest in and partner with creative organizations and thought leaders to develop and distribute entertainment, sports and educational programs for various platforms.

Furthermore, Dito CME plans to leverage on advertising solutions for its brand and business partners, not only through the eyeballs from content, but also leveraging assets within the Udenna Group. Lastly, technology – DITO CME plans to embark on the basic anchor of technology solutions, from cloud computing to mobile applications.

Lim also clarified the relationship between DITO Telecommunity and DITO CME. “DITO CME will own indirect interest in DITO Telecommunity once the necessary governmental approvals are obtained and the appropriate transfer documents are executed; however, the holder of the government franchise is DITO Telecommunity.”

In other matters, the entire original nine-member Board of Directors was reelected with three independent directors. The increase in authorized capital stock tabled during the meeting is the same increase that was approved in December 2019 to ensure that the corporation has sufficient capital stock in order to successfully inject interest in DITO Telecommunity. The increase was therefore requested anew.

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