Issued just now today PR for PGIE
(December 12, 2011) HOUSTON--PGI Energy, Inc. (Pink Sheets: PGIE)
PGI Energy Letter to Shareholders
The executive team wanted to take this opportunity to address shareholders to provide an update. The new entity is near completion of its listing on the Frankfurt first quotation board. We expect this process to be completed this month. The board of directors have reviewed plans for consolidation of operations recommended by the executives and have concluded that it is in the best interest of the company and its shareholders to combine business operations with the Frankfurt listed entity as the parent holding company and the US entity shall remain as the operating entity. Both entities will be public at present, unless the board proposes a change.
The parent company shall upon receipt of funds from our institutional investors, assume and pay the debts of PGI Energy, Inc (US) and shall fund its operations with consolidated financials going forward. The parent company upon receipt of adequate funds from its institutional investors plan to conduct a stock repurchase plan through acquisition of shares of PGIE in the open market. The new ticker symbol and trading quotation information will be released through a subsequent press release soon.
The company is actively negotiating equipment financing for sell/lease of green energy units to clients. The company is generating revenue from its transportation & logistics division and is planning to expand its fleet through ordering more trucks and hiring new drivers.
The company has negotiated significant commodities contract that it expects to close this month, but will not release deal specifics until the transaction closes as these are very complex transactions.
The company has put forth an aggressive plan to the Government of River Gee County under its contract with Liberia for infrastructure development. We are currently identifying natural resources such as palm oil, rubber trees, gold, rough diamonds, and cocoa available in the region for counterparty trade agreements to be traded by PGI Energy Trading LTD. We have presented vendors to the Governor to provide mobile medical clients, modular housing, and clean water filtration units both portable and commercial. We have meet with Humanitarian Aid groups to build relationships for medical doctors to provide medical care and supplies to the people of Liberia. We believe this private-public partnership will be very profitable for PGI and will aid the people of Liberia in their efforts to building an economically independent economy through barter and trade of natural resources.
We appreciate our shareholders patience and hope to regain your confidence once we implement these 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.
