Philux Global : Regulation FD Disclosure - Form 8-K
December 26, 2023 at 10:04 am EST
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Item 7.01 Regulation FD Disclosure
The information in this Item 7.01 of this Current Report is furnished pursuant to Item 7.01 and shall not be deemed "filed' for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing.
I. Extension of Repurchase Date for the Company's Common Stock
On December 22, 2023, the Company's Board of Directors passed a corporate resolution to extend the time period for the repurchase of its own shares of common stock from the open market from time to time in accordance with the terms mentioned below and subject to liquidity conditions, availability of funds, cash balances, cash flow conditions, satisfaction of certain open contractual obligations and the judgment of the Company's Board of Directors and Management with respect to optimal use of potentially available funds in the future:
1.
Purpose of Repurchase: To enhance shareholder value.
2.
Details of Repurchase:
a.
Class of shares to be repurchased: Common Stock of PHI Group, Inc. (n/k/a Philux Global Group, Inc.)
b.
Number of repurchasable shares: As many as economically conducive and optimal for the Company and its shareholders.
c.
Total repurchase dollar amount: To be determined by prevalent market prices at the times of
transaction.
d.
Methods of repurchase: Open market purchase and/or negotiated transactions.
e.
Repurchase period: As soon as practical until June 30, 2024.
f.
The Company intends to fund the proposed share repurchase program with proceeds from certain long-term financing programs, future earnings, disposition of applicable non-core assets and other potential sources, subject to liquidity, availability of funds, comparative judgment of optimal use of available cash in the future, and satisfaction of certain open contractual obligations.
g.
The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company's creditors and may be terminated at any time based on future circumstances and judgment of the Company.
PHI Group Inc. published this content on 26 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 December 2023 15:02:33 UTC.
Philux Global Group Inc., formerly PHI Group, Inc., is engaged in mergers and acquisitions as a principal and invests in select industries and special situations that may substantially enhance shareholder value. The Company operates Philux Global Funds SCA, SICAV-RAIF, a Reserved Alternative Investment Fund (RAIF) under the laws of Luxembourg, develops the Asia Diamond Exchange in Vietnam which consists of trading exchanges of both rough and lab-grown diamonds, and provides merges an acquisitions advisory and consulting services through its wholly owned subsidiary Philux Capital Advisors, Inc. Its advisors and consulting services include merger and acquisition advisory and consulting services, corporate finance, project financing, corporate turnaround, corporate governance, and other corporate services. Philux Global Advisors, Inc. serves as the investment advisor to PHILUX Global Funds and other investment funds.
PHILUX GLOBAL GROUP INC. 
