RMS Titanic, Inc. Announces Name Change and Holding Company Formation
October 15 2004 - 3:54PM
PR Newswire (US)
RMS Titanic, Inc. Announces Name Change and Holding Company
Formation ATLANTA, Oct. 15 /PRNewswire-FirstCall/ -- RMS Titanic,
Inc. (OTCBB: SOST) announced today that it has completed the
formation of its new holding company Premier Exhibitions, Inc.
(OTCBB: PXHB). The stock of Premier Exhibitions, Inc. will be
quoted on the OTC Bulletin Board beginning Monday, October 18, 2004
under the new symbol "PXHB". RMS Titanic, Inc.'s stock will cease
quotation as of the close of business today. This tax-free
reorganization was structured in a manner that did not require
action by RMS Titanic Inc.'s shareholders under Florida law, whose
rights, privileges and interests will remain the same with respect
to Premier Exhibitions, Inc. Outstanding stock certificates of RMS
Titanic, Inc. will be exchanged for new certificates of Premier
common stock on a one-for-one basis; however, the articles of
incorporation, by-laws, officers, and directors of the company did
not change as a result of the holding company formation. The
purpose of the holding company formation is to create an
organizational framework that tends to be more flexible and
conducive to future expansion. As a result of the new framework,
Premier Exhibitions, Inc. will continue the company's overall
business of developing and touring museum quality exhibitions
throughout the world, while RMS Titanic, Inc. will be limited
solely to touring the company's Titanic exhibitions. RMS Titanic,
Inc. continues to be the only company ever permitted by law to
recover objects from the wreck of the Titanic, and likewise
continues to maintain its salvor- in-possession rights to the wreck
of the Titanic, which were granted to it by a United States Federal
Court in 1994. The Company is also hosting a shareholder conference
call on Tuesday October 19th, at 4:10 PM Eastern, to present an
update on the Company. Interested parties can access the call, as
well as ask questions after the presentation by utilizing the
following numbers: Dial number- 1-800-322-0079 International
number- 973-409-9260 Digital replay- 877-519-4471, Pin number:
5294661 International replay- 973-431-3080 FORWARD-LOOKING
STATEMENTS Certain information contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Such forward- looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. The Company has based these forward-looking statements
on its current expectations and projections about future events,
based on the information currently available to it. The
forward-looking statements include statements relating to the
Company's anticipated financial performance, business prospects,
new developments, new strategies and similar matters. The following
important factors, in addition to those described in the Company's
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the year ended February 29, 2004,
especially in the Risk Factors and the Management's Discussion and
Analysis sections, and its Quarterly Reports on Form 10-Q and its
Current Reports on Form 8-K (each of which is available upon
request from the Company), may affect the future results of the
Company and cause those results to differ materially from those
expressed in the forward-looking statements; material adverse
changes in the economic conditions in the Company's markets,
including terrorist attacks, competition from others, the amount
capital the Company receives from required financings, and whether
or not, and to what extent, the Company consummates its planned
leases to place exhibitions. We disclaim any obligation to update
these forward- looking statements. FOR ADDITIONAL INFORMATION:
Company Contact: Gerald Couture, Chief Financial Officer, (404)
842-2600 Investor Relations: Investor Awareness Inc.: Tony Schor,
(847) 945-2222, Media Relations: North Coast Advisors Inc.: Craig
T. Stewart, (585) 218-7371, DATASOURCE: RMS Titanic, Inc. CONTACT:
Gerald Couture, Chief Financial Officer of RMS Titanic, Inc.,
+1-404-842-2600; or Investor Relations, Tony Schor of Investor
Awareness Inc., +1-847-945-2222, or ; or Media Relations, Craig T.
Stewart of North Coast Advisors Inc., +1-585-218-7371, or
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