Providential Holdings Declares Dividend for Shareholders
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--Nov. 17, 2003--Providential Holdings, Inc. ( PRVH - news) (Berlin Stock Exchange and Frankfurt Stock Exchange:PR7; WKN
935160) (
www.phiglobal.com) today announced that it will distribute a minimum of twenty percent (20%) of ATC Technology Corp's common stock on a pro-rata basis to all Providential Holdings shareholders of record as of December 31, 2003. The Company anticipates the dividend distribution to take place in mid 2004 assuming certain conditions are satisfied, including the listing of ATC Technology stock on the OTC Bulletin Board or another exchange in the United States. Providential shareholders of record will not be asked to give any consideration for receiving shares of ATC common stock.
ATC Technology Corp, a wholly-owned subsidiary of Providential Holdings, is a manufacturer of mobile entertainment products, including Gamego(TM), Vidego(TM) and Moviego(TM), and has recently received orders from Wal-Mart USA and Wal-Mart Canada for its Gamego(TM) systems. URL:
www.atctech.com. Henry Fahman, Chairman and CEO of Providential Holdings, commented, "We are pleased to declare this dividend distribution as part of our commitment to creating enduring value for our shareholders. We will continually seek to reward our shareholders with both potential appreciation of our stock price and dividend distributions of our holdings in the future."
About Providential Holdings
Providential Holdings, Inc. (PHI) is a diversified holding company committed to creating shareholder value through growth. The company focuses on selective technologies, capital and financial services, international markets and special situations.
Products and services include mobile entertainment systems, information technology, identification technology, infrastructure development, telecommunications, trade commerce, and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth.
URL:
www.phiglobal.com. Forward-looking statements:
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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