DFNN to wipe out P643M deficit

TECHNOLOGY solutions provider DFNN Inc. is cleaning up its books to wipe out P643 million in capital deficit and become capable of declaring dividends soon. In a disclosure to the Philippine Stock Exchange on Monday, DFNN said its board had approved the issuance of 8.3 million common shares to various existing shareholders by virtue of…

DFNN to undergo quasi-reorganization

LISTED DFNN, Inc. said it will conduct a quasi-reorganization to remove the deficit in its retained earnings, as the information technology solutions provider moves to declare dividends soon. In a special board meeting last Friday, DFNN’s board of directors approved the issuance of 8.31 million common shares to existing shareholders through a debt-to-equity conversion. “The…