New York, Oct. 31, 2018 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com) (OTCQB: PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in select industries and special situations, today announced that the Company has decided to extend the Payment Date for the special stock dividend in American Pacific Resources, Inc., a wholly owned subsidiary of the Company, to March 29, 2019 to allow for further substantive developments of this subsidiary before filing a registration statement with the U.S. Securities and Exchange Commission for it to become a separate publicly traded entity.
The Record Date for this special stock dividend in American Pacific Resources, Inc. was June 29, 2018 and the minimum amount of Common Stock of PHI Group, Inc. held by each shareholder as of the Record Date was five (5) shares to be eligible for the above-mentioned special stock dividend. The Dividend Ratio remains to be the same as announced before: for every five (5) shares of PHI Group, Inc. Common Stock held by eligible shareholders as of the Record Date, these shareholders would have the right to receive one (1) freely tradable share of Common Stock of American Pacific Resources, Inc. when a registration statement is declared effective by the U.S. Securities and Exchange Commission.
About PHI Group, Inc.
PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. In addition, the Company’s wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com) provides M&A consulting services and assists companies to go public and access international capital markets. We have also been working diligently to launch a Luxembourg Reserved Alternative Investment Fund (RAIF) plus several sub-funds for investment in renewable energy, agriculture and real estate together with international partners.
Safe Harbor Act and Forward-looking Statements
This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
Contact:
PHI Group, Inc.
Henry Fahman
info@phiglobal.com