PRVH - Press ReleaseSource: Providential Holdings, Inc.
Providential To Be Introduced To European Investment Community
Friday June 27, 7:01 am ET
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--June 27, 2003--Providential Holdings, Inc. (OTCBB: PRVH - News; Berlin: PR7, WKN 935160)(www.phiglobal.com) today announced that the company will conduct an intensive European advertising and awareness campaign in the German-speaking region. This is largely in response to broad interest in the mobile entertainment systems and information technology market displayed throughout Europe. The Europeans are taking the lead in a market that has shown a vivid foundation for unprecedented growth and profits over the next 5-10 years.
"Through our listing at the Berlin Stock Exchange, the European investment community will have much lower transaction costs and easier trading conditions for our stocks than they would have otherwise," said Henry Fahman, Chairman and CEO of Providential. "European shareholders have long term value in mind as the basis of their investing principles since German investors benefit from strong tax incentives such as zero tax rate for capital gains after a holding period of 12 months. We now want to take the opportunity to expand our shareholder basis in Europe as well."
Providential Holdings has recently announced that the Company expects to post substantial profitable operating results for the quarter ending June 30, 2003 and intends to speed up its investment efforts in the newly-approved Open Economic Zone of Chu Lai, Vietnam.
"With our anticipated continued revenue growth and profitable results in the coming quarters through M&A activities, mobile entertainment products, Provimex division and other initiatives, Providential is poised for growth. The new opportunities in Vietnam will further speed up our growth prospects. With an investor awareness program in Europe, we will be able to tap into the opportunities of a changing global capital environment and boost our status as a truly global player," Fahman continued.
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