Beneficial Holdings Adds to Management Team; Board of Directors
MONTVALE, NJ--(Marketwired - Apr 22, 2014) - Beneficial
Holdings, Inc. (OTC Pink: BFHJ) (PINKSHEETS: BFHJ) today announced
an addition to its management team and the appointment of
independent members of its Board of Directors.
*Nicholas DiBitetto has joined the Company as Senior Vice
President and Chief Financial Officer. DiBitetto is an
experienced financial professional holding controllership and CFO
positions at several real estate related enterprises in the New
York metro area over the last 30 years.
The Company's Chairman, President and CEO, Gregory N. Senkevitch
stated: "The addition of DiBitetto deepens our management team as
Beneficial moves to a higher level of activity. Nick will add
value as we move to normalize our public company reporting
regimen."
New Board members will take office on July 1, 2014:
*Harold J. Raveche, PhD is President of Innovation Strategies
International, LLC (www.innostrategies.com) with projects in Asia,
Latin America and India. Dr. Raveche serves as Founding Board
Director of Vision Technology Systems (www.vt-systems.com), the
U.S. Division of Singapore Technologies and Founding Director of
Biogen (www.biogendr.com) which manufactures patented technology
that converts biomass to synthetic gas for production of electric
and thermal energy. He was previously President of Stevens
Institute of Technology, an innovative global institution of higher
learning based in Hoboken, NJ.
*Allen Boston, CPA is a retired Ernst & Young partner,
spending 36 years in the firm's Baltimore, New York and Americas
practices, serving a wide range of clients in diverse industries,
including real estate and construction. He has served as
member of several non profit boards, associations and advisory
boards, including the Maryland and New Jersey State Societies of
CPAs and on the executive council of the American Institute of
CPAs.
*Norman Melnick is a retired inventor, entrepreneur and
investor. He was formerly the CEO of Penntech, Inc. which he
founded, took public and sold in the early 1990's. Mr. Melnick
was an early adopter of outsourcing manufacturing to China.
*Michael J. Petersen Esq. is a partner in the law firm Shulman
Hodges & Bastian LLP of Irvine, CA. He has served as corporate
counsel for Prudential Financial and its various
subsidiaries. After Prudential, he served as general counsel
to Newport Financial and its subsidaries. Shulman Hodges &
Bastian currently serves as counsel to the Company.
*Larry Newman, PhD is Co-Executive Director of the Executive
Center for Education and Development at Rider University and was
formerly the Dean of Rider's College of Business
Administration. As Dean, he worked with his colleagues in the
initiation of centers of excellence in Leadership, International
Business, Business Forensics and Entrepreneurial Studies as well as
the Executive Center for Education and Development in order to
advance the partnership between higher education and the business
community. In addition, he was instrumental in defining and
executing a strategic vision that resulted in maintaining the
College's prestigious accreditation for both the business and
accounting programs.
Commenting on the additions to the Company's Board of Directors,
Senkevitch said: "These appointments are part of our plan to
increase our governance profile, add to depth to our stature in the
business community and expertise in areas of technology,
sustainability and best practices. Each of these appointees
has tremendous accomplishments in their area of excellence. I
have had a business or professional relationship with each of them
over an extended period of time and their appointment to the Board
reflects my continued trust in their guidance and global
insights."
Beneficial Holdings' will discuss these additions to its
management team and board of directors as part of its scheduled
investor call. The call will start promptly at 11:00 a.m. EDT
on Wednesday, April 23, 2014. The toll free dial in number for
United States and Canada is (888) 481-2844. The international
toll number is (719) 325-2144 (not toll free). For either
number please enter pass code 6980950 when prompted. Allow at
least 15 minutes prior to the call for the registration
process. Investor questions will be answered as time
allows.
ABOUT BENEFICIAL
HOLDINGS, INC. Beneficial Holdings, Inc. is a holding
company seeking to acquire and invest in operating service-oriented
businesses in the real estate, financial services and energy
management sectors.
For more information on the Company please visit our web site at
www.beneficial-holdings.net.
FORWARD-LOOKING
STATEMENTS
This news release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. As a
general matter, forward-looking statements reflect our current
expectations and projections relating to our financial condition,
results of operations, plans, objectives, future performance and
business. These statements may be identified by the use of
forward-looking terminology such as "may", "will", "expects",
"plans", "estimates", "anticipates", "projects", "intends",
"believes", "outlook" and similar expressions.
The forward-looking statements contained in this news release
are based upon our historical performance, current plans,
estimates, expectations and other factors we believe are
appropriate under the circumstances. The inclusion of this
forward-looking information is inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual results, financial and otherwise, may differ materially from
the results discussed in the forward-looking
statements. Statements regarding the following subjects, among
others, may be forward-looking: our business and investment
strategy; our projected operating results; estimates relating to
our ability to make distributions to our stockholders in the future
and economic trends and economic recoveries.
All information in this release is as of April 22,
2014. The Company does not undertake a duty to update
forward-looking statements, including its projected operating
results. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company may, in its discretion,
provide information in future public announcements regarding its
outlook that may be of interest to the investment community.
CONTACT: GREG McANDREWS & ASSOCIATES Gregory A. McAndrews
(310) 804-7037 greg@gregmcandrews.com
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