Replies to post #102720 on PHI Group Inc (PHIL)

[Marilynt]

Interesting..

[Militia Man]

BUYBACK ~ PHIL imminent... ~ SECTION 7 – REGULATION FD DISCLOSURE



Item 7.01 Regulation FD Disclosure



The information in this Item 7.01 of this Current Report is furnished pursuant to Item 7.01 and shall not be deemed “filed’ for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing.



I. Extension of Repurchase Date for the Company’s Common Stock



On April 7, 2022, the Company’s Board of Directors passed a corporate resolution to extend the time period for the repurchase of its own shares of common stock from the open market from time to time in accordance with the terms mentioned below and subject to liquidity conditions, satisfaction of certain open contractual obligations and the judgment of the Company’s Board of Directors and Management with respect to optimal use of potentially available funds in the future.



1. Purpose of Repurchase: To enhance future shareholder returns.
2. Details of Repurchase:


a. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
b. Amount of repurchasable shares: As many as economically conducive and optimal for the Company.
c. Total repurchase dollar amount: To be determined by prevalent market prices at times of transaction.
d. Methods of repurchase: Open market purchase and/or negotiated transactions.
e. Repurchase period: As soon as practical until June 30, 2023.
f. The Company intends to fund the proposed share repurchase program with proceeds from long-term financing programs, future earnings, disposition of non-core assets and other potential sources, subject to liquidity, availability of funds, comparative judgment of optimal use of available cash in the future , and satisfaction of certain open contractual obligations.
g. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s creditors and may be terminated at any time based on future circumstances and judgment of the Company.