SOURCE: PHILand Ranch Ltd.
FRANKFURT, GERMANY and LOS ANGELES, CA–(Marketwire – August 5, 2010) – PHILand Ranch Ltd. (
Prior to the expiration of a previously announced funding commitment with EHMI Land Corp., the company had the opportunity to renew that agreement with certain revised conditions; however, PHILand Ranch chose not to further extend this financing arrangement.
The company is currently working with its auditors to complete a consolidated annual audit, expected by late September, to upgrade its listing to the entry level standard on the Frankfurt Stock Exchange. The company also is continuing with plans to list PHILand Ranch ADR’s (American Depository Receipts) for trading in the U.S. capital markets.
Discussions are underway with several institutions to coordinate an ADR listing. Once the ADR trading becomes effective, the company will announce the payment date for the previously announced dividend distribution of PHILand Ranch’s ADR’s to PHIGroup, Inc.’s (
About PHILand Ranch Ltd.
PHILand Ranch Limited, a United Kingdom corporation, 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 PHIGroup, Inc.
Email: [email protected].com