is watching BFHJ and saying, "Go! Go! BFHJ Go!"
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BFHJ Beneficial Holdings Responds Regarding Thunderbird Resorts Rebuttal to Acquisition OfferLAS VEGAS, NV--(Marketwire - September 9, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today provided its shareholders with its response to Thunderbird Resorts' press release.
On the evening of September 8, 2009, without attempting to contact BFHJ's management, TBIRD issued a statement that they did not plan to respond to our letter addressed to their directors requesting concurrence with our offer to purchase the entire outstanding ordinary shares, but no fewer than 80%, of the company for $2.12 along with one Beneficial Holdings share in exchange for every ten TBIRD shares.
In response to TBIRD's communication that suggested Beneficial Holdings may not have complied with securities laws, the company states that it did not issue a tender offer to purchase shares. Instead, Beneficial submitted its proposal to the directors in an attempt to formulate a mutually acceptable proxy plan. The letter specifically stated that upon the recommendation of the directors that the offer be accepted, Beneficial would formulate a proxy to shareholders. "What we did is no different than the initial letter Kraft Foods recently propounded upon Cadbury suggesting terms of an acquisition. Only after the companies try to work out an agreement do you submit a formal tender to shareholders for approval. Of course, Beneficial does not rule out a formal hostile tender offer if discussions are fruitless," said Alex Papic, Vice President of Beneficial Holdings.
Beneficial Holdings believes it offered a fair price for TBIRD and has followed all corporate protocol by advising TBIRD's directors in advance by indicating our objectives. Beneficial intends to fully pursue this proposed acquisition, and it located no legislation requiring a formal filing solely for making an initial proposal to the directors requesting that they recommend supporting a proxy.
Beneficial Holdings believes it is irresponsible of TBIRD to infer that the company may not have the ability to fulfill its offer, while refusing to respond as to whether it believed the offer was adequate. Beneficial does not believe this course of action is in the best interest of TBIRD's shareholders. Indeed, the letter to TBIRD clearly stated that upon the directors indicating that they would support the price offered, Beneficial would immediately establish an escrow. Beneficial is fully prepared to deposit in escrow any reasonable amount of funds necessary to move forward with the proposed acquisition if TBIRD agreed on the fairness of the offered price.
Beneficial Holdings realizes that our notification of interest took TBIRD's management by surprise, and the company intends to begin a dialogue as soon as possible. Through discussions, it will be determined whether TBIRD would be amenable to what we believe is a fair valuation and Beneficial will then move forward.
This press release does not constitute an offer of any securities for sale. It contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ. All statements in this press release are based on information available as of the date hereof, and the company undertakes no obligation to update any statement to reflect events or circumstances occurring after the date of this press release.
Contact:
Investor Relations
Beneficial Holdings
Email Contact
(702) 522-1527
Beneficial Holdings Responds Regarding Thunderbird Resorts Rebuttal to Acquisition Offer LAS VEGAS, NV--(Marketwire - September 9, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today provided its shareholders with its response to Thunderbird Resorts' press release.
On the evening of September 8, 2009, without attempting to contact BFHJ's management, TBIRD issued a statement that they did not plan to respond to our letter addressed to their directors requesting concurrence with our offer to purchase the entire outstanding ordinary shares, but no fewer than 80%, of the company for $2.12 along with one Beneficial Holdings share in exchange for every ten TBIRD shares.
In response to TBIRD's communication that suggested Beneficial Holdings may not have complied with securities laws, the company states that it did not issue a tender offer to purchase shares. Instead, Beneficial submitted its proposal to the directors in an attempt to formulate a mutually acceptable proxy plan. The letter specifically stated that upon the recommendation of the directors that the offer be accepted, Beneficial would formulate a proxy to shareholders. "What we did is no different than the initial letter Kraft Foods recently propounded upon Cadbury suggesting terms of an acquisition. Only after the companies try to work out an agreement do you submit a formal tender to shareholders for approval. Of course, Beneficial does not rule out a formal hostile tender offer if discussions are fruitless," said Alex Papic, Vice President of Beneficial Holdings.
Beneficial Holdings believes it offered a fair price for TBIRD and has followed all corporate protocol by advising TBIRD's directors in advance by indicating our objectives. Beneficial intends to fully pursue this proposed acquisition, and it located no legislation requiring a formal filing solely for making an initial proposal to the directors requesting that they recommend supporting a proxy.
Beneficial Holdings believes it is irresponsible of TBIRD to infer that the company may not have the ability to fulfill its offer, while refusing to respond as to whether it believed the offer was adequate. Beneficial does not believe this course of action is in the best interest of TBIRD's shareholders. Indeed, the letter to TBIRD clearly stated that upon the directors indicating that they would support the price offered, Beneficial would immediately establish an escrow. Beneficial is fully prepared to deposit in escrow any reasonable amount of funds necessary to move forward with the proposed acquisition if TBIRD agreed on the fairness of the offered price.
Beneficial Holdings realizes that our notification of interest took TBIRD's management by surprise, and the company intends to begin a dialogue as soon as possible. Through discussions, it will be determined whether TBIRD would be amenable to what we believe is a fair valuation and Beneficial will then move forward.
This press release does not constitute an offer of any securities for sale. It contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ. All statements in this press release are based on information available as of the date hereof, and the company undertakes no obligation to update any statement to reflect events or circumstances occurring after the date of this press release.
Contact:
Investor Relations
Beneficial Holdings
Email Contact
(702) 522-1527
From pennystockgurus.blogspot.net
We brought the BFHJ story to the table last week. BFHJ was, at that time, entering a quiet period before announcing an acquisition. We thought it was a good time to scoop up a few shares before the news hit the wires. On Friday the shares closed at $.026 and it appears that is just the beginning.
Lets hope you have those shares, because the news out tonight should move the stock in a big way Tuesday morning. The release, in its entirety, is below. For now we'll just focus on a few details before we head to sleep.
According to tonights release BFHJ will earn $.25 a share before EBITDA. The tentative valuation of BFHJ's shares per the acquisition is roughly $.21 a share, almost 1,000% higher than Friday's close. This valuation is base purely on the acquisition price. Obviously BFHJ is bringing substantial revenue aboard which could increase valuations even further.
Going alright! Looking for some excitement this morning on the markets.
bfhj looking to move, 10 million in float, .02-.03, announced they are trying to buy TBIRD, a casino company on the Amsterdam Euronext. TBIRD up 50% on the news.
bfhj weeeeeeeee made TBIRD go up 65% on the NYSE Euronext!
BFHJ caused TBIRD stock to go up 65% on the NYSE Euronext Exchange!!!! Weeeeeeeee.
BFHJ .023 x .039 offer to buy TBIRD caused TBIRD it to go up 65% on the NYSE Euronext Amsterdam in 15 minutes. So exciting they halted the issue for 30 minutes. Resumed and held its gains.
TBIRD halted from 930 to 10 amsterdam time, resumed at 10 holding the 60% gain on news.
looks like they suspended trading in tbird for about 15 minutes then it resumed, i dunno if they got price breakers or what.
TBIRD opened at 1.08 and is now 1.65 bid x 1.69 ask, high 1.75
TBIRD stock waking up on BFHJ takeover. Weeeeeeeee.
Thunderbird stock up 50% on news, popped from 1.05 to 1.65!!!
my dream come true, thank u carolina
ready, set, gooooooooooooooooooooo. we need news!
911 trade followed by a big block of 450k
did i c a 4
whats da differences please. pics on website were 2007 winter?
how comes he cant get da permits hammer?
yes we glad u here, stick around and give us more
L2 anyone?
whats the indication we will get shares or paid in the bk proceeding
I don;t see a correlation on the piggybackng of fannie, but let the sponge bounce more.
hahahahahahahahahhllolollo lo lolol that's funny stuff. but u really think it true?
.0001 180 million shares? now i seek to load up. i will be the market maker.
this used to be ask slapped in the morning then go down in the afternoon, today it was bidwhacked in the morning and ask slapped at night. funny stock.
i'd like to say i am quite excited about what might be coming,something big is. i agree with sony that it gotta be a gaming company. but what gaming companies are in central america that isnt on a usa exchange? mebbe something trading on the mexico exchage? isthere a mexican exchange?
i think the blowout will be whenwe buy something good
cheapies here.
cant wait for this to pop like it needs to
bfhj is buying tumbleweeds!!!!!!!!!!!!!!!
watch then buy
seriously? bfhj is mighty tighty odd stufs.
nothing will change but name symbol and cusip, you will have same shares
10 million shares, nice.
i think this is the most interesting zombie on the market
shells become something else. sometimes they reverse split but i dont think theyll do that here due to the low outstanding,
i dont believe the big blocks were retail trades i think they were mms moving shares or something cuz if a guy is gonna buy 5 or 6k worth he'd be ranting and raving about it.
but i agree lets do a share count if u guys r into it.
wish i got the .006
i love this oven.