GNCC Capital, Inc. Re-Domiciling to Effect Stock Buyback Program
29 9월 2014 - 6:00PM
Business Wire
GNCC Capital, Inc. (OTC:GNCP) (“The Company”) announced today
that its management and board of directors intend to recommend
re-domiciling the Company as a Wyoming corporation.
Common shareholders and preferred shareholders of each class
having a vote sufficient to approve the re-domiciliation have
indicated to the Board their intention to approve this corporate
action. The Company has been incorporated in Delaware since 2008;
prior to then it was a Nevada corporation. Following formal Board
and Shareholder approval, the requisite filings will be made in
Wyoming and Delaware and a notification of corporate action will be
filed with FINRA, to be effective upon FINRA approval.
Wyoming corporate law is clear in that Wyoming corporations may
engage in stock buy-back programs without restriction; the
restrictions that apply to payment of corporate dividends are not
included in the provision of Wyoming law that specifically
authorizes stock buy-backs. The legal certainty provided by Wyoming
law on this point is a clear advantage over the present state of
Delaware corporate and case law. Additionally, there are
substantial savings on state franchise tax.
The Company’s Directors have legal opinion that recommends that
the Company effect this re-domiciling to Wyoming, given provisions
of Delaware Law; that in the Opinion of Legal Advisors to the
Company, currently prohibit the Company from implementing its
authorized Stock Buyback Program.
The Company’s Directors authorized a Stock Repurchase Program of
up to $750,000 on January 13, 2014 and amended 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.
The full details of which were filed on the OTC Markets Filing
& Disclosure Service, today, include a basic FAQ Review of
these Rules. A link to this filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=127017.
Following the re-domiciling of the Company in Wyoming and
approval from FINRA, it is intended that the Company will commence
with its authorized stock buyback 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 Section 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
Section Rule 10b-18 as promulgated under the Securities Exchange
Act of 1934, as amended.
The Company will file all requisite documentation in respect of
its re-domiciling to Wyoming on the OTC Markets Filing &
Disclosure Service.
This stock buyback follows on from comments made by the
Company’s Directors in various Press Releases whereby they stated
that absolutely no Reverse Split of the Common Stock of the Company
would be considered as it was considered to be detrimental to
Stockholder interests. This planned Stock Buyback should allay the
concerns of those whom considered that the Company would
contemplate a Reverse Split of its Common Stock. The Directors of
the Company, under no circumstances, will consider any reverse
split of the Company’s Common Stock.
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. Internet and
Social Media Reputation Management Services operating from
Carlsbad, California. 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 RelationsE Mail:
investor@gncc-capital.comWeb Site: www.gncc-capital.comTwitter:
https://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]
GNCC Capital (CE) (USOTC:GNCP)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
GNCC Capital (CE) (USOTC:GNCP)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024