Business
PREMIER DEVELOPMENT & INVESTMENT, INC. UPDATE - INCREASE IN HOLDINGS IN GNCC CAPITAL, INC.
PREMIER DEVELOPMENT & INVESTMENT, INC. UPDATE - INCREASE IN HOLDINGS IN GNCC CAPITAL, INC..
About this update from Gncc Capital, Inc.
[{"type":"text","content":"\n\n\n\nPREMIER DEVELOPMENT & INVESTMENT, INC. UPDATE - INCREASE IN HOLDINGS IN GNCC CAPITAL, INC.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nPREMIER DEVELOPMENT & INVESTMENT, INC. UPDATE - INCREASE IN HOLDINGS IN GNCC CAPITAL, INC.\nPR Newswire\nLAS VEGAS, Dec. 21, 2021\n\n\n\nLAS VEGAS, Dec. 21, 2021 /PRNewswire/ -- GNCC Capital, Inc. (\"GNCP.PK\", \"GNCC\" or \"the Company\" refers our shareholders to our Press Release dated December 13, 2021, a link for ease of reference: https://www.otcmarkets.com/stock/GNCP/news/PREMIER-DEVELOPMENT--INVESTMENT-INC-SUBSTANTIALLY-INCREASES-ITS-HOLDING-IN-GNCC-CAPITAL-INC?id=335484 whereby we confirmed that Premier Development & Investment, Inc. (OTC: PDIV) (\"PDIV.PK\" or \"Premier\") has now very substantially increased its holdings of restricted Voting Common Stock in GNCP.\nWe can now confirm that Premier's holdings in GNCC exceed 55% of GNCC's shares of outstanding Voting Common Stock.  \nWe can confirm that Premier has no desire to hold more than up to more than some 45% of GNCC Voting Common Stock; from time to time.\nAs Premier is a GNCC Insider, it is prohibited nor is it willing to dispose of any of its shareholdings in GNCC in the market. It would not be possible for Premier to obtain consent to remove the \"restrictive legend\" from its GNCP Common Stock. \nWe reiterate that that Premier views its holdings in GNCC as a long term, passive and now; an extremely attractive investment. The current GNCC stock price was considered as an irresistible and highly attractive further entry point for Premier (in the opinion of the Directors of Premier and of the controlling shareholders of Premier). \nThis is not considered to be a material transaction by Premier given its cash, fixed and short term liquid assets; coupled with its very short term investment holdings.\nGNCC has now managed to obtain the necessary Conversion Notices from additional Preferred Stockholders in order to convert into additional shares of GNCC restricted Voting Common Stock.\nThis ensures that Premier will not hold in excess of 45% of GN...