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Providential Holdings Confirms Distribution Date for ATC Tech Stock Dividends TUESDAY, JULY 20, 2004 3:17 AM
- Market Wire
PRVH 0.18 +0.01 Enter Symbol: Enter Keyword:HUNTINGTON BEACH, CA, Jul. 20, 2004 (MARKET WIRE via COMTEX) -- Providential Holdings, Inc. (PRVH) , (Berlin and Frankfurt Stock Exchanges: PR7; WKN 935160) (http://www.phiglobal.com) today announced that it has made the necessary arrangement with its stock transfer agent to send out the dividend stock certificates of ATC Technology Corp, a wholly-owned subsidiary of the Company, to eligible shareholders within ten working days.
PRVH will distribute a total of 20,000,081 shares of ATC Technology Corp's common stock on a pro-rata basis to all Providential Holdings shareholders of record as of December 31, 2003. There were 108,227,317 PRVH shares eligible to receive the dividend distribution at that time, including allocations for its past bridge note obligations. This means for 5.41 shares of PRVH stock owned on record on December 31, 2003, the shareholder will receive one share of ATC common stock as dividend.
The Company will be responsible for all the costs associated with the issuing and mailing of the ATC Tech dividend physical certificates to shareholders who held PRVH stock in certificate form as of December 31, 2003. For all shareholders who held PRVH stock in their brokerage accounts as of the same date, the ATC Tech dividend shares will be automatically credited to their accounts when they are fully-registered, free-trading and DTC eligible.
Further information regarding this dividend distribution can be found at www.atctechnologycorp.com/shares. About ATC Technology Corp:
ATC Technology Corp is in the business of mobile video electronics and has recently signed an agreement to acquire 96% of Lifetech Scientific Inc, to be funded by its common stock.
About Lifetech:
Lifetech, www.lifetechmed.com/english/index.asp, is an established company with solid revenue and profit for the past five years. Its major products are the micro medical devices inserted into blood vessel by doctors to unclog coronary, pulmonary and renal artery blockages without open cavity surgeries. They are: coronary stents, renal stents, TAA/AAA stent grafts, vena cava filters, PDA occluders, ASD occluders, and VSD occluders. Patients can usually feel the benefits immediately and return home the next day. Lifetech Scientific Inc's products are made in its own clean room facility and sold directly to hospitals in China. It has an extensive network of sales offices through out China. The products that have been launched in the domestic market include: The company has spread its products to more than 20 provinces . Since the sales volume of occluder shares 25% of the domestic market, the company has become the biggest domestic supplier of occluder.