GNCC Capital, Inc. Final Update on Re-Domiciling in Order to Implement a Stock Repurchase Program and to Change CUSIP Number
November 19 2014 - 12:23PM
Business Wire
GNCC Capital, Inc. (OTC:GNCP) (“The Company”) announced on
September 29, 2014 and confirmed on October 30, 2014, that its
Board of Directors intended to re-domicile the Company from
Delaware to Wyoming. This was in order to implement a Stock
Repurchase Program.
- The Company confirms that these actions
were completed on November 14, 2014, in the State of Delaware. The
Certificate of Conversion from the State of Delaware was filed on
that date on the OTC Markets Disclosure Service.
- The Company confirms that the
additional documentation requested by Wyoming was filed on November
19, 2014 in the State of Wyoming. It is anticipated that the
re-domiciling process will be completed on or before Friday
November 21, 2014. Upon receipt of the stamped documentation from
Wyoming, this will be filed on the OTC Markets Disclosure Service.
The Company today filed all of the Wyoming Statutory Documentation,
as submitted, on the OTC Markets Disclosure Service as a
Supplemental Filing.
- The Company will immediately apply for
a change in its CUSIP Number following its re-domiciling. The
Company will advise as to its new CUSIP Number upon receipt.
The Attorneys to the Company advise that the Company is to
transact an electronic filing with OTC Corporate Actions
(FINRA) reflecting the re-domiciling of the Company to
Wyoming. They advise that this process with FINRA will take ten
days from the date of filing.
The FINRA SEA Rule 10b-17 Actions "includes dividends or other
distributions in cash or kind, stock splits or reverse stock
splits, or rights or other subscription offerings, and such other
actions as are provided for in SEA Rule 10b-17; and the term "Other
Company-Related Actions" includes, but is not limited to, any
issuance or change to a symbol or name, mergers, acquisitions,
dissolutions or other company control transactions; and bankruptcy
or liquidations."
Following this re-domiciling of the Company in Wyoming; and post
the ten day period from our FINRA notification, it is intended that
the Company will commence with its authorized stock repurchase
program. All shares of Common Stock repurchased in the market by
the Company will be cancelled upon their repurchase by the Company.
All stock repurchases by the Company will comply with Rule 10b-18
as promulgated under the Securities Exchange Act of 1934, as
amended. All stock repurchases by the Company will be published in
accordance with Rule 10b-18 as promulgated under the Securities
Exchange Act of 1934, as amended.
The Company’s Directors authorized a Stock Repurchase Program of
up to $750,000 on January 13, 2014 and amended it on September 26,
2014. The Company secured the necessary funding for this Stock
Repurchase Program without utilizing any of the Company’s existing
loan agreements and expressly without utilizing any of the existing
Company’s various Subsidiary Companies’ profits and cash. The full
details of which were filed on the OTC Markets Filing &
Disclosure Service on January 13, 2014 and include a basic FAQ
Review of these Rules. A link to this filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=127017.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Diversified Holding Company which at
present has Revenue Generating, Cash Positive and Profitable
subsidiary companies which are engaged in the owning and operation
of Adult Social Gaming Arcades based in South Florida. The Company
also has significant assets in Gold & Silver Mining Exploration
in Arizona. GNCC Capital, Inc. is a Current Information Filer on
the OTC Markets.
The Company’s most profitable assets, at this time, are our
Adult Social Gaming Arcades in South Florida which are currently
operating under our Gold Coast Gaming Corporation and as “Boardwalk
Brothers” and ”Play It Again”. The Company is aggressively pursuing
suitable acquisition targets in South Florida and in this
Sector.
The Company also intends to continue to diversify into other
Industry Sectors through acquisitions and as they present
themselves; only upon our stated criteria.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The
words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings, which are on file with the OTC
Markets Group.
GNCC CAPITAL, INC.Ronald Y Lowenthal,
702-951-9793Executive Chairmancorporate@gncc-capital.comorPeter
Voss, 702-951-9793Chief Executive
Officercorporate@gncc-capital.comorInvestor
Relations:investor@gncc-capital.comwww.gncc-capital.comhttps://twitter.com/GNCCCapital[We
would be very appreciative if all investor questions be directed to
this E mail address and not to our telephone voicemail until such
time as we have appointed a dedicated Investors Relations Firm whom
will deal with all telephonic enquiries]
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