OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Apr 4, 20222. SEC Identification Number A1999088743. BIR Tax Identification No. 202-955-7964. Exact name of issuer as specified in its charter DFNN Inc.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office L2 - L5 14/F PSE Tower, 5th Avenue corner 28th Street, Bonifacio Global City, Taguig CityPostal Code16348. Issuer's telephone number, including area code (02) 8396-52709. Former name or former address, if changed since last report None10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding |
| Common | 324,620,008 |
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DFNN, Inc.DFNN PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another CorporationReferences: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
| Subject of the Disclosure |
Acquisition and Subscription of Shares by a Subsidiary |
| Background/Description of the Disclosure |
On 1 April 2022, DFNN was informed that its subsidiary PGI Systems Pte. Ltd. acquired and subscribed to 5,000 shares in DPG Venture International Limited. |
|
Date of Approval by Board of Directors | Feb 25, 2022 |
| Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction |
DFNN subsidiary PGI Systems Pte. Ltd. to acquire and subscribe to shares in DPG Venture International Limited which will act as a conduit to allow the DFNN Group of Companies to internationally expand its IT solutions, products and services in the future. |
| Date | Feb 25, 2022 |
| Manner |
The parties executed the pertinent documents for the subscription of the DPG Venture International Limited shares. |
| Description of the company to be acquired or sold |
DPG Venture International Limited is engaged in the business of providing IT solutions, products and services. |
| Number of shares to be acquired or disposed | 5,000 |
| Percentage to the total outstanding shares of the company subject of the transaction | 100 |
| Price per share | USD$1.00 |
| Nature and amount of consideration given or received |
The subscription of the 5,000 DPG Venture International Limited shares was payable in cash in the amount of USD$5,000.00. |
| Principle followed in determining the amount of consideration |
The par value of DPG Venture International Limited was followed in determining the amount of consideration. |
| Terms of payment |
Cash - immediate payment upon the execution of the definitive documents. |
| Conditions precedent to closing of the transaction, if any |
None |
| Any other salient terms |
None |
| Name | Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates |
| DPG Venture International Limited | There is no material relationship with the issuer, their directors/ officers, or any of their affiliates |
| Effect(s) on the business, financial condition and operations of the Issuer, if any |
The acquisition and subscription of shares in DPG Venture International Ltd. by DFNN subsidiary PGI Systems Pte. Ltd. will allow the DFNN Group of Companies to internationally expand its IT solutions, products and services in the future. |
| Other Relevant Information |
N/A |
| Name | LERMA CASPER CUERDO |
| Designation | Accounting Manager |