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GNCC Capital, Inc. Updates on Its Re-Domiciling to Effect Stock Buyback Program
GNCC Capital, Inc. Updates on Its Re-Domiciling to Effect Stock Buyback Program.
About this update from Gncc Capital, Inc.
[{"type":"text","content":"\n \n GNCC Capital, Inc. (OTC:GNCP) (“The Company”) announced on September 29, \n 2014 that its management and board of directors intended to recommend \n re-domiciling the Company as a Wyoming corporation. This was in order to \n implement a Stock Repurchase Program.\n \n \n The Company confirms that all applicable filings have now been completed \n for filing in both Delaware and Wyoming.\n \n \n The Company’s Directors authorized a Stock Repurchase Program of up to \n $750,000 on January 13, 2014 and amended on September 26, 2014. The \n Company secured the necessary funding for this Stock Repurchase Program \n without utilizing any of the Company’s existing loan agreements and \n expressly without utilizing any of the existing Company’s various \n Subsidiary Companies’ profits and cash. The full details of which were \n filed on the OTC Markets Filing & Disclosure Service on January 13, 2014.\n \n \n The full details of which were filed on the OTC Markets Filing & \n Disclosure Service, today, include a basic FAQ Review of these Rules. A \n link to this filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=127017.\n \n \n Following the re-domiciling of the Company in Wyoming and approval from \n FINRA, it is intended that the Company will commence with its authorized \n stock buyback program. All shares of Common Stock repurchased in the \n market by the Company will be cancelled upon their repurchase by the \n Company. All stock repurchases by the Company will comply with Section \n Rule 10b-18 as promulgated under the Securities Exchange Act of 1934, as \n amended. All stock repurchases by the Company will be published in \n accordance with Section Rule 10b-18 as promulgated under the Securities \n Exchange Act of 1934, as amended.\n \n \n The Company will file all requisite documentation in respect of its \n re-domiciling to Wyoming on the OTC Markets Filing & Disclosure Service.\n \n \n This stock buyback follows on from comments made by the Company’s \n Directors in various Press Releases whereby they stated that absolutely \n no Reverse Split of the Common Stock of the Company would be considered \n as it was considered to be detrimental to Stockholder interests. This \n planned Stock Buyback should allay the concerns of those whom consider...