Please let me know if I’m wrong, but I thought as things stand right now, you must own your PHIL shares by JUNE 30th (this month) to be eligible for receiving 1 APR share for 20 PHIL shares you own? You still own your PHIL shares but get the APR shares as well.
Plus Henry has said there is incentive to do more Spinoff Company’s as well in the future besides APR.
News 
Market Data 
Discover 
