iCrowd Newswire
29 Sep 2022, 01:18 GMT+10
HOUSTON, Texas, September 28, 2022 - Houston Natural Resources Corp. (OTC: HNRC) ("HNRC or the Company") announced today that it will spin off its non-energy assets to its wholly owned subsidiary Worldwide Diversified Holdings, Inc and then dividend them to its shareholders of record on December 16, 2022and will be distributed to the Company's shareholders upon an effective registration statement. The company is anticipating the registration statement to be completed in the fourth quarter of 2022. The transaction will provide for a dividend of $1.75 per share for every one share of HNRC held by the shareholder on the record date.
The Company has previously announced that, effective June 30, 2022, the Board of Directors has approved the transfer of the non-energy investments of $53,307,324 in exchange for common shares of Worldwide Diversified Holdings, Inc ("WDHI"). The Company received the requisite stockholder approval granting the Board of Directors the authority to affect the transfer of the assets and approve the dividend to the shareholders. WDHI will focus on acquisitions in the technology, telecommunications and software industries.
Shareholders owning shares through a broker or other nominee will have their positions automatically adjusted to reflect the dividend and will not be required to take any action in connection with the transaction. The transaction would not have any impact on the voting and other rights of stockholders and will have no impact on the Company's business operations or any of its outstanding indebtedness.
With the completion of the transaction, the company will now be focused on (i) acquisitions of income producing oil and gas properties, (ii) expansion of its wastewater treatment facilities, (iii) additional equipment for the existing 83 oil well rework project and (iv) on completing its listing onto the OTCQB.
Houston Natural Resources Corp (www.hnrcholdings.com) (OTC:HNRC). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, information technology and healthcare.
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: frank@hnrcholdings.com
Houston Texas USA.
Phone: (757) 707-4563
See Campaign: https://hnra-nyse.com/Tags:CE, Go Media, PR-Wirein, IPS, Reportedtimes, Financial Content, ReleaseLive, Google News, Extended Distribution, iCN Internal Distribution, English
Get a daily dose of International Technology news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.
More InformationNew Delhi [India], December 7 (ANI): The Department for Promotion of Industry and Internal Trade (DPIIT) orchestrated a comprehensive meeting ...
(Photo credit: Thomas Shea-USA TODAY Sports) Starter to third-string quarterback and back again in a span of three weeks, Zach ...
Russia's envoy has held talks with the chief of Gujarat, which contains India's largest refineries and will host a financial ...
© Provided by Xinhua "Over the past 40 years, Europe and China have forged mutually beneficial, dynamic and symbiotic economic ...
The Russian envoy has held talks with the chief of Gujarat, which contains India's largest refineries and an upcoming financial ...
Lucknow (Uttar Pradesh) [India], December 5 (ANI): The Yogi government has started the 'CM Fellowship Programme' in Aspirational Cities, also ...
New York - Former President Donald Trump returned to his civil business fraud trial as a spectator Thursday, after a ...
Chennai (Tamil Nadu) [India], December 8 (ANI): Indian spinning ace Ravichandran Ashwin on Thursday waded into the ongoing flood situation ...
New Delhi [India], December 8 (ANI): The fifth season of the Pro Tennis League (PTL) get underway on Thursday at ...
New Delhi - Celebrations erupted in Nepal's LGBTQ community when Maya Gurung, a transgender woman and Surendra Pandey, a man, ...
New York - Former President Donald Trump returned to his civil business fraud trial as a spectator Thursday, after a ...
(Photo credit: Ken Ruinard-USA TODAY Sports) Duke running backs Jaquez Moore and Jordan Waters are the latest players entering the ...