Philux Global Group Extends Repurchase Date for Common Stock

Philux Global Group, operating as PHI Group, Inc., recently made an announcement on December 31, 2024, regarding the extension of its repurchase date for common stock. The decision was reached following a corporate resolution passed by the company’s Board of Directors.

The purpose of this repurchase initiative is aimed at enhancing shareholder value within the organization. Details of the repurchase program include the following key points:
– Class of shares to be repurchased: Common Stock of PHI Group, Inc.
– Number of repurchasable shares: To be determined based on economic feasibility and optimal benefit for the company and its shareholders.
– Total repurchase dollar amount: Determined by prevailing market prices during transactions.
– Methods of repurchase: Open market purchase and/or negotiated transactions.
– Repurchase period: Initially from the date of resolution until December 31, 2025.
– Funding for the program: The company intends to finance the repurchase program through long-term financing programs, future earnings, and other potential sources, subject to various considerations such as liquidity, availability of funds, and the judgment of the company’s board.
– Compliance with laws: The share repurchase program will adhere to state and federal regulations and certain covenants with the company’s creditors. It may be terminated based on future circumstances and the judgment of the company.

The company provided this information in a Form 8-K filing submitted to the Securities and Exchange Commission (SEC). The document emphasized that this disclosure under Item 7.01 Regulation FD Disclosure is furnished according to specified regulations and is not to be considered “filed” for certain purposes, as outlined in the report.

Regarding the financial aspects, the company’s common stock (Trading Symbol: PHIL) is registered on the OTC Markets exchange. Furthermore, the company outlined in the filing its financial statements and pertinent exhibits associated with this report.

This strategic move by Philux Global Group demonstrates a commitment to maximizing shareholder value and carefully managing the repurchase of its common stock to align with its overall corporate objectives and financial strategy. The company’s transparency in communicating this decision through regulatory filings underscores its dedication to maintaining open and clear communication with stakeholders and the investing public.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Philux Global Group’s 8K filing here.

About Philux Global Group

Philux Global Group Inc engages in the provision of merger and acquisition advisory, consulting, project financing, and capital market services to clients in North America and Asia. It also produces and sells spirits; and focus on various sub-funds for investment in real estate, renewable energy, infrastructure, agriculture, healthcare, and the international financial center and Asia diamond exchange.