PGI Energy, Inc. (PGIE: OTC Link) | PGI ENERGY LETTER TO SHAREHOLDERS

PGI ENERGY LETTER TO SHAREHOLDERS

Nov 28, 2011

OTC Disclosure News Service

Houston, TX –

(November 28, 2011) HOUSTONPGI Energy, Inc. (Pink Sheets: PGIE)

 

PGI Energy Letter to Shareholders

 

The executive team takes this opportunity to address shareholders and to provide shareholders a company 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. FINRA must announce the dividend payment date for the distribution to occur. The Company believes it complied with all requests to get the preferred dividend issuance. It is our intent to assist FINRA, in any way possible, to announce the issuance date. Thereafter, DTC (CEDE Corp) will be notified and the distribution will be issued according to their instructions to post the dividend shares to the account of shareholders held in brokerage accounts. Clearly, the Company does not maintain a shareholders list for those holding electronic shares.

 

The Company was informed the announcement of the dividend payment date could be Wednesday, November 23, 2011 or Monday November 28, 2011. Later, the Company received an email notice from FINRA on Wednesday evening, November 23, 2011 stating the legal department wanted to conduct a review before the announcement could be made. The Company is working diligently with FINRA to get this matter resolved.

 

 Shareholders contacted our office regarding an update on the Company listing on the Frankfurt Stock Exchange (FSE). We hired a consultant to advise us and file appropriate documentation to begin the listing process. Please be advised that a separate affiliate Company seeks listing on the FSE.

 

Our affiliate Company expects to be much further along in the listing process within the next two weeks. Thereafter, we will update the shareholders. Upon successful listing on the Frankfurt Exchange, the affiliate Company will seek capital infusion to implement our business plan. Additionally, after successful listing on the Frankfurt Exchange, the Company may consider a number of options that affect shareholders, including, but not limited to, possible proxy for possible consolidation of the entities through either an asset purchase agreement, stock repurchase plan, stock exchange process and or holding company parent relationship.

 

Once a decision is made regarding Company direction, shareholders will be notified and may participate regarding the disposition of the domestic Company.

 

We are concerned about the current share price and believe the current plan outlined above will be corrective for our shareholders. Contrary to popular belief, we did not unload 600 million shares into the market in one day. Our investigation revealed there was 176 trades buying and selling among retail traders and, or market makers, that caused the high volume. No single group conducted all those trades and we definitely did not issue 600 million shares to anyone. The Company has no way of controlling the share volume and does not plan to do any dilutive capital raises in the near future.

 

We hired investor relations firm ATG Capital Group to begin a market awareness support campaign this week. We appreciate our shareholders patience and hope to regain your confidence once we implement the above measures.

 

We look forward to building a long relationship with our shareholders and adding real company value!

 

About us

PGI Energy, Inc. is an energy holding 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 Holdings International, 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

 

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/PGIE/news?id=38503

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