Contact Information: Contact: Henry Fahman Tel: 714-843-5455 Email:
Providential Holdings Changes Annual General Meeting Date to March 13, 2009
| Source: Providential Holdings, Inc.
LOS ANGELES, CA and FRANKFURT, GERMANY--(Marketwire - January 20, 2009) - Providential
Holdings, Inc. (OTCBB : PRVH ) (FRANKFURT : PR7 ) (WKN 935160), a company
engaged in mergers and acquisitions, real estate development, mining, and
investing in special situations, today announced that the Company's Board
of Directors has decided to change the annual general meeting for the year
2008 to 2:00 P.M., Pacific Standard Time, Friday, March 13, 2009, at the
Company's principal offices located at 17011 Beach Blvd., Huntington Beach,
CA 92647.
The Company keeps the previously announced date December 05, 2008 as the
record date for the annual general meeting and will file an updated proxy
statement with the Securities and Exchange Commission in the near future.
The Company has determined it needs more time to fill its Board of
Directors with additional qualified independent members in order to meet
the requirements for listing on the NASDAQ Stock Market in the future, to
complete the listing of the Company's real estate development subsidiary
Philand Corporation on the Frankfurt Stock Exchange, to finish the
Company's quarterly report for the quarter ended December 31, 2008, and to
update the financial audits of the Company's majority-owned subsidiary PHI
Mining Group (PINKSHEETS : PHIG ) with the Securities and Exchange Commission
before the annual general meeting.
Henry Fahman, Chairman and CEO of Providential Holdings, Inc., commented:
"We believe it is in the best interest of the Company and our shareholders
to reschedule the annual general meeting in order to accomplish the
above-mentioned items before this very important corporate event."
About Providential Holdings
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, the most important of which are M&A and consulting
services, real estate development, mining and investing in special
situations. The Company assists U.S. and international companies to go
public and raise capital through the U.S. and European stock markets,
develops "Pointe 91," a luxury resort and upscale residential community in
Chu Lai, central Vietnam, through its subsidiary Philand Corporation
(www.philandranch.com), and engages in mining in Southeast Asia through its
majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). The
Company's main web site address is www.phiglobal.com.
To sign up for free e-mail notification of future releases, please visit:
http://investors.phiglobal.com/alerts.cfm?
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.