LOS ANGELES and FRANKFURT, Germany, Dec. 9, 2009 (GLOBE NEWSWIRE) -- PHIGroup, Inc. (OTCBB:PHIE) (Frankfurt:PR7) (Xetra:PR7.DE) (WKN A0RNQV), a company engaged in the development and management of real estate properties, mining interests and consulting, merger and acquisition advisory services, announced today that the company will distribute a special dividend payment to eligible shareholders with a record date of December 31, 2009.
Shareholders of PHIGroup, Inc. who hold a minimum of 200 shares of the company's common stock as of the record date will be eligible to receive a dividend payment in free trading common stock of Philand Ranch Limited. For every 200 shares owned of PHIGroup, shareholders will receive one share of Philand Ranch, a majority-owned subsidiary of PHIGroup currently listed on the Open Market Segment of the Frankfurt Stock Exchange under the symbol 1P8. The dividend shares will be rounded down to the nearest integer without fractional shares. The dividend shares will be free trading when they are delivered to shareholders of record.
Philand Ranch is working with the Bank of New York Mellon to make Philand Ranch shares available as ADR's to provide an opportunity for North American investors to more easily participate in the growth of Vietnam and Southeast Asian economies. Philand Ranch intends to list its shares on a senior U.S. exchange in the near future.
PHIGroup Chairman and CEO Henry Fahman, said, "To reward our long-term shareholders, we are delighted to distribute this special dividend. We intend to make additional special dividends from our various portfolio companies in the future."
About PHIGroup, Inc.
PHIGroup develops real estate and natural resources, provides M&A advisory and consulting services and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing Philand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam. PHIGroup is also engaged in mining in Southeast Asia and Haiti (PHIMining Group, Inc.) (Pink Sheets:PHIG) (www.phimining.com). Website: www.phiglobal.com.
About Philand Ranch Ltd.
Philand Ranch Limited, a United Kingdom corporation, Company No. 6923797, is engaged in the development of real estate, hospitality and master-planned community properties in Vietnam and the growing economies of Southeast Asia. The company is currently developing the first phase of a multi-billion dollar project at Pointe91 in Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary Philand Vietnam Ltd. Philand Ranch's stock is traded on the Frankfurt Stock Exchange: 1P8.F and Xetra: 1P8.DE; WKN A0RPEA. Website: www.philandranch.com.
About Pointe91
Located on an exclusive and majestic bluff overlooking the South China Sea with rocky shores that extend to the north and sandy beaches southward, the 118-acre Pointe91 is encompassed by a diverse topography and will grow to an eventual 300 contiguous acres. Pointe91 will offer exclusive luxury accommodations including 227 grand private residences in seven separate communities, an exclusive five-star beach hotel and spa with 180 rooms and 30 detached premium residences that will be part of a private residence club.
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.