HOUSTON, Jan. 13, 2012 /PRNewswire/ -- PGI Energy,
Inc. (Pink Sheets: PGIE)
The executive team wanted to take this opportunity to address
shareholders' concerns and to provide an update. The company filed
timely, corporate action notice to the corporate action division of
FINRA regarding the issuance of a preferred dividend as announced
to our shareholders. The company has complied with all requests to
get the matter resolved for the issuance. The company decided to
issue the preferred dividend certificates to CEDE Corp. who has the
responsibility for crediting brokerage accounts for shares held
electronically. We expect CEDE Corp. to receive the certificates by
Friday, January 13, 2012.
Shareholders contacted our office regarding where we are in the
process regarding the Frankfurt Exchange listing. The Frankfurt listing committee on December 20, 2011 halted all new listing
including those that were pending listing on the first quotation
board until they implement new policies and procedures for listing.
As a result, the December planned listing was delayed and presented
by our listing partner to the Borse Berlin Exchange where we expect
trading to begin soon. The management team and board of directors
have entered into a business combination agreement whereby PGI
Energy Holdings International, Inc would become the parent company
and PGI Energy, Inc would remain the operating company. The new
ticker for the holding company will be (P9E). We further ratified a
board resolution whereby the announced stock repurchase plan can be
conducted by the PGI Energy Holdings International through open
market purchases with a plan to acquire up to 51% of the public
float to restructure the outstanding share structure. We believe
this plan of action can be achieved with capital from our
institutional investors upon their investment into PGI Energy
Holdings International. We believe this will add shareholder value
in the near future with a healthy share price. We do not plan at
the present time to do any reverse stock split as rumored. We
believe being an international company with dual listings will
ultimately benefit our shareholders. We plan to use funds from the
IPO raise in Berlin to fund
acquisition targets in the US. We still have existing contracts for
commodities products we are trying to close. The process has taken
longer than expected with renegotiations of banking terms to get a
closing. We hoped to close the transaction in December, which did
not occur. However, the transactions are still ongoing with a hope
of closing this month. We began presenting green energy equipment
acquisition purchase agreement for financing with financial
institutions. We hope to have a great market in the alternative
energy space. We hope to release financial results ending the
fourth quarter of 2011 in the month of February. We are looking to
launch an extensive IR campaign upon completing our listing in
Berlin. We are working with a team
that has world market reach to develop a multi language website. We
look to improve investor relations in the near future. We
appreciate our shareholders patience and hope to regain your
confidence once we implement these measures.
We look forward to building a long relationship with our
shareholders and adding real company value! Please note that while
we seek to implement the above, rarely are plans consummated
exactly as designed. There may be unexpected and unintentional
diversions from the plans outlined above. In any event, we will
continue to update our shareholders in order to maintain
transparency and confidence. Again, we look forward to adding real
company value in the near future.
About us
PGI Energy Holdings International, Inc is an energy
holding company, a Canadian company headquartered in Houston, Texas. The company's purpose is to
acquire assets in the proven producing oil, gas assets, refinery,
pipeline sectors of the energy industry and other synergistic
assets.
PGI has formed several partnerships to grow its core business
organically through strategic alliances diversifying its interest
in green energy through biomass production, waste to energy, wood
pellets production, syn gas, bio char production and plastics to
synthetic crude. PGI has several core divisions which provide
support to its operations and customers such as PGI Energy
Transportation & Logistics,PGI Energy, Inc., PGI Green E&P
and PGI Energy Trading.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "intends, "plans," "should," "seeks," "pro forma,"
"anticipates," "estimates," "continues," or other variations
thereof (including their use in the negative), or by discussions of
strategies, plans or intentions. A number of factors
could cause results to differ materially from those anticipated by
such forward-looking statements, including those discussed under
"Risk Factors" and "Our Business." Forward-looking statements are
subject to known and unknown risks and uncertainties and are based
on potentially inaccurate assumptions that could cause actual
results to differ materially from those expected or implied by the
forward-looking statements. Our actual results could differ
materially from those anticipated in the forward-looking statements
for many reasons.
For more information visit: www.PGIEnergy.us or Email:
ir@pgienergy.us
SOURCE PGI Energy Holdings International, Inc.