PLANTATION, Fla.--(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.