PANAMERSA Corporation pnms:PK UPDATE
March 7, 2008
San Jose, Costa Rica
Effective today, March 7, 2008 PANAMERSA Corporation pnms:PK is no longer an operating company of Fundacion Pan America, FPA. PANAMERSA Corporation pnms:PK is now a beneficiary company of FPA.
This change reflects another step towards better disclosure of financial activities during the year 2008.
PANAMERSA Corporation pnms:PK becoming a beneficiary of FPA means that the fixed assets such as investments in government foreign debt bonds, gold reserves and others in the FPA development funds will continue to be protected under the Foundation.
To date, we have reduced the authorized shares down from 10 Billion to 6 Billion, we have reclassified PANAMERSA Corp pnms:PK as a beneficiary company and we have moved the principal office to San Jose, Costa Rica because Costa Rica is the service center of Pan America.
A new board of directors is being structured currently. It will be conformed by a President, Mr. Pedro Borges Fiol, a new CEO, a CIO and four directors, two of which will come from our shareholders.
"Please note that PANAMERSA Corporation pnms:PK, a public company in the US, does not have any type of investments and/or relations with America I, Cuba. This, of course, is due to the embargo that we hope will be lifted by the end of 2008", said Mr. Borges.
We appreciate your support and will continue to protect our shareholders protect the interests for all, without frontiers.
San Jose, Costa Rica
Effective today, March 7, 2008 PANAMERSA Corporation pnms:PK is no longer an operating company of Fundacion Pan America, FPA. PANAMERSA Corporation pnms:PK is now a beneficiary company of FPA.
This change reflects another step towards better disclosure of financial activities during the year 2008.
PANAMERSA Corporation pnms:PK becoming a beneficiary of FPA means that the fixed assets such as investments in government foreign debt bonds, gold reserves and others in the FPA development funds will continue to be protected under the Foundation.
To date, we have reduced the authorized shares down from 10 Billion to 6 Billion, we have reclassified PANAMERSA Corp pnms:PK as a beneficiary company and we have moved the principal office to San Jose, Costa Rica because Costa Rica is the service center of Pan America.
A new board of directors is being structured currently. It will be conformed by a President, Mr. Pedro Borges Fiol, a new CEO, a CIO and four directors, two of which will come from our shareholders.
"Please note that PANAMERSA Corporation pnms:PK, a public company in the US, does not have any type of investments and/or relations with America I, Cuba. This, of course, is due to the embargo that we hope will be lifted by the end of 2008", said Mr. Borges.
We appreciate your support and will continue to protect our shareholders protect the interests for all, without frontiers.
posted by Panamersa at
9:26 AM
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