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Of all the votes that voted regarding the matters raised in the proxy statement: 1) Election of Tam T. Bui, Henry D. Fahman, Frank Hawkins, Lawrence G. Olson, and Paul K. Nguyen as directors of the corporation until the 2010 annual shareholder meeting: 99.84 % voted for, none voted against, and 0.16% abstained; 2) Amending the Articles of Incorporation to change the corporate name to "PHI GROUP, INC." and the par value of the corporation's common stock to $0.001: 96.38% voted for, 2.40% voted against, and 1.22% abstained; and 3) Upgrading the listing of the Company's common stock to the NASDAQ Capital Market or another senior exchange and authorizing the Board of Directors to take the necessary steps as may be required to perform such listing, including a reverse split of the corporation's common stock ONLY IF it deems necessary, appropriate and beneficial to the shareholders of the corporation: 99.47 % voted for, 1.53% voted against, and 0.00% abstained.
Management also presented the audited financial statements for the preceding year, reviewed interim operating results and emphasized the company's focus for the balance of 2009, which includes M&A and consulting services, real estate development, and mining.
About Providential Holdings
Providential Holdings focuses on M&A and consulting services, real estate development, mining and investing in special situations. The Company assists companies to go public and raise capital, develops "Pointe 91," a luxury resort and premium residential community in Chu Lai, central Vietnam, (www.philandranch.com), and engages in mining in Southeast Asia (www.phimining.com). The Company's main web site address is www.phiglobal.com.
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.
John Nguyen Tel: 714-843-5460 Email Contact
SOURCE: Providential Holdings, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=4091B542D521A9C5
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