bfhj The Netherlands Regulatory Authority for the Financial Markets Contacted Beneficial Holdings Regarding Its Offer for Thunderbird ResortsLAS VEGAS, NV--(Marketwire - September 11, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today received a notification from the Netherlands Authority for the Financial Markets, which maintains jurisdiction over the NYSE Euronext Stock Exchange where Thunderbird Resorts trades.
The Authority has reviewed the circumstances and considered the press release issued on September 8, 2009, to constitute an announcement under the Dutch Takeover Decree that Beneficial would make a public offer for Thunderbird Resorts.
The notification was in response to Beneficial Holdings' announcement that it "believed a fair and adequate offer for the shares of Thunderbird Resorts would be $2.12 per share along with one BFHJ share for every ten TBIRD shares."
The offer is contingent upon Beneficial being able to acquire 80-100% of the ordinary shares of Thunderbird Resorts based on an ultimate proxy if endorsed by the Board of Directors of Thunderbird Resorts.
As a result of the notification, Beneficial recognizes its capacity and will comply with all of the Dutch Authorities' guidance regarding its acquisition objectives.
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.
