HNRC CONFIRMS DISTRIBUTION OF WORLDWIDE DIVERSIFIED HOLDINGS
Effective after close of business
This will combine the company's legacy businesses in software, telecommunications and consulting into one business,
The distribution to HNRC shareholders of one share of WDHI common stock for every two HNRC shares is to be effective after the close of business on May 26, 2023. The Spin-Off will provide current HNRC shareholders with ownership interests in HNRC, and later WDHI upon consummation of the spin-off transaction.
The distribution is intended to be tax-free distribution to HNRC shareholders for
The shareholders do not need to pay any consideration or surrender or exchange their shares of HNRC common stock to participate in the Spin-Off. After the distribution has been completed the company will be able to file the registration statement to provide for WDHI to become public trading. The registration statement is expected to be filed in the second quarter. The company will keep shareholders updated on the progress.
This will be a pivotal time for HNRC and WDHI, its customers, employees, and stockholders, one with unique and compelling growth opportunities. We look forward to creating an independent WDHI and HNRC will move forward its mission in a more focused and empowered way.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Houston Natural Resources Corp, E-mail: email@example.com, Houston, Texas, USA, Phone: (757) 707-4563