NEW YORK, April 25, 2019 /PRNewswire/ -- RA Holding Corp. ("RA Holding" or the "Company") announced on April 3, 2018 that the Company determined, based on advice from its professional advisors, that it likely would be considered a passive foreign investment company" ("PFIC") for U.S. federal income tax purposes for its tax year ended June 30, 2017. Under U.S. federal income tax rules, for existing shareholders, once a company is a PFIC it generally is always treated as a PFIC. The Company is therefore likely to be considered a PFIC for U.S federal income tax purposes for its tax year ended June 30, 2018. This may have adverse U.S. tax consequences for certain United States shareholders or other holders of equity interests in the Company. The Company undertakes no obligation to advise you on the U.S. federal income consequences of the Company becoming a PFIC. You should discuss issues arising from our PFIC status with your own tax advisor. You may contact Mark Sweeting should you or your advisor need further information for that purpose. If you are a new United States shareholder for tax year ended June 30, 2018, you may contact the Company for further information as to whether RA Holding qualifies as a PFIC based on its June 30, 2018 tax year.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release includes forward-looking statements that are subject to numerous assumptions, risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons, including, but not limited to: our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Forward-looking statements are those statements which are not statements of historical fact. Forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "believes," "seeks," "estimates," and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update publicly or revise any of the forward-looking statements.
About RA Holding Corp.
RA Holding Corp. is the top level holding company in the group created pursuant to the plan of reorganization of Arcapita Bank B.S.C. (c) and certain affiliates under chapter 11 of the United States Bankruptcy Code.
Contact: Mark Sweeting of Sweeting Finance Limited; E-mail: [email protected]
SOURCE RA Holding Corp.