CORRECTING and REPLACING Online Vacation Center Holdings Corp. Announces Filing of Form 15 to Suspend SEC Reporting Obligations
February 18 2011 - 12:39PM
Business Wire
Reissuing release to add ticker symbol for searching
purposes.
The release reads:
ONLINE VACATION CENTER HOLDINGS CORP. ANNOUNCES FILING OF FORM
15 TO SUSPEND SEC REPORTING OBLIGATIONS
Online Vacation Center Holdings Corp. announced today that the
Company has filed a Form 15 with the Securities and Exchange
Commission ("SEC") to deregister its common stock. Upon such
filing, the Company's obligation to file certain reports with the
SEC, including annual, quarterly and current reports on 10-K, 10-Q
and Form 8-K, respectively, was immediately suspended. The Company
expects that the deregistration of its common stock will be
effective 90 days after the date the Form 15 is filed with the
SEC.
The Board of Directors determined that the expense and
management attention required for SEC compliance and reporting
outweighs the benefits for the Company and its shareholders in
light of its history of the low trading volume of the Company's
common stock on the Over-the-Counter Bulletin Board and resulting
very limited liquidity in shares of the Company's common stock.
The Company anticipates that upon filing the Form 15, its common
stock will no longer be quoted on the Over-the-Counter Bulletin
Board, but instead but will quoted on the Pink Sheets, a
centralized electronic quotation services for over-the-counter
securities, so long as market makers demonstrate an interest in
trading the Company's common stock. However, the Company cannot
guarantee that trading in its common stock will continue in the
Pink Sheets or in any other forum.
About Online Vacation Center Holdings Corp.
Online Vacation Center Holdings Corp. is a Florida holding
company, focused on building a network of diversified vacation
marketers with a wide range of products that can be cross-sold to
an extensive customer base. Online Vacation Center Holdings Corp.
is one of the country's largest cruise retailers. Its portfolio of
travel companies, including Online Vacation Center, Dunhill
Vacations News and Curves Travel, allows customers to research,
plan and purchase a vacation. The Company, based in Plantation,
Florida, has been in business for over 30 years. Additional
information can be found at www.onlinevacationcenter.com.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements in this press release other than statements of
historical fact, including statements regarding the timing of the
deregistration process and the development of a trading market for
the Company's common stock on the Pink Sheets or any other forum
are forward-looking. We use words such as anticipates, believes,
expects, future, intends, and similar expressions to identify
forward-looking statements. Forward-looking statements reflect
management’s current expectations and are inherently uncertain.
Actual results could differ materially for a variety of reasons,
including, without limitation, the Company's ability to
successfully complete its deregistration, the effectiveness of its
deregistration within 90 days after filing the Form 15 with the
SEC, whether market makers quote the Company's common stock on the
Pink Sheets, whether a trading market for the Company's common
stock develops on the Pink Sheets or in any other forum, and other
risks described in our Annual Report on Form 10-K for the year
ended December 31, 2009 filed with the SEC on March 29, 2010 and
the risks discussed in other SEC filings. These risks and
uncertainties, as well as other risks and uncertainties, could
cause our actual results to differ significantly from management’s
expectations.
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