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Aug 20, 2017 @ 19:18

Buddy Zamora, Benjamin Bitanga named new directors of PT&T

 

Nickel Asia Corp. founder Salvador “Buddy” Zamora II has been appointed as director of Philippine Telegraph and Telephone Corp., further fuelling speculations he has gained control of the listed telecommunications company.

PT&T announced Friday the retirement of its chairman and CEO Jose Luis Santiago and directors Lucie Bantolino, and Maureen V. Santiago as well as its corporate secretary Fina Bernadette Tantuico

Replacing them are Zamora, Benjamin Bitanga and his son Miguel. Federico Prieto has been named as the new corporate secretary.

Despite the new appointments, PT&T denied any change in its controlling shareholder.

“The controlling shareholders from whom the former group of director belongs entered into a management agreement with the group of new directors,” PT&T said in its filing with the stock exchange.

PT&T operates as local exchange carrier catering to small and medium business and residential segments across the country. It also provides broadband/Internet-based services and traditional bandwidth services.

It was last traded at P0.33 on Dec, 12, 2004 after going on a voluntary suspension for its failure to comply with the reportorial requirements of both the Securities and Exchange Commission and the Philippine Stock Exchange.

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