Pride Holdings Group (OTC: PHSE), a diversified hospitality, entertainment, and LGBTQ+ focused holding company, today announced that its former Chief Executive Officer has voluntarily returned approximately 13.35% of the company’s outstanding shares to the company’s treasury. The returned shares have been transferred back to Pride Holdings Group and recorded on the company’s share treasury, effectively reducing the public issued shares and strengthening the company’s overall capital structure, with other shares being restricted for sale.
“This action reflects a strong belief in the long-term vision of Pride Holdings Group and a commitment to responsible stewardship of shareholder value,” said Mike Barrett, Chief Executive Officer of Pride Holdings Group. The return of shares was completed without cost to the company and did not involve the issuance of new equity or changes to current management or operational strategy.
Pride Holdings Group continues to focus on disciplined growth through strategic acquisitions, organic revenue expansion, and community-driven brand development within the LGBTQ+ consumer and hospitality markets. This share return is a significant vote of confidence from former leadership, signaling alignment with the company’s strategic direction and financial discipline. By reducing the number of publicly traded shares, the company may enhance earnings per share and demonstrate a commitment to long-term shareholder value.
The company will provide additional updates as appropriate through official filings and shareholder communications. For more information, please visit www.prideholdingsgroup.com. View the original release on www.newmediawire.com.
Pride Holdings Group is a publicly traded holding company focused on acquiring, operating, and scaling LGBTQ+ oriented hospitality, nightlife, entertainment, and real estate assets. Through its portfolio of venues, events, and branded experiences, the Company aims to create safe, inclusive, and economically sustainable community spaces while delivering long-term value to shareholders. This announcement underscores the company’s commitment to prudent capital management and shareholder alignment.
